Public Private Partnerships and Private Finance Initiative (PPP/PFI)

PPP/PFI is a procurement method creating public-private partnerships, whereby funding for public infrastructure projects is provided by private capital through a concession agreement.

How it works

A private sector party agrees to finance, build and operate infrastructure projects (e.g. hospitals, schools, roads and prisons) and to provide long term lifecycle investment and facilities management such as cleaning and catering, in return for payments over the concession period (typically 25 years). Payment is only made if services are delivered according to the requirements of the concession agreement.

Risk Transfer

Through the concession agreement certain risks are transferred to private sector parties as they are better equipped to handle such risks. For instance, should construction costs overrun or there is a delay in the completion of the projects then these costs are borne by the contractors. In the same way, finance costs are borne by the finance providers and service delivery by the
service contractors.

We can provide a range of insurance advice and broking capabilities in all aspects of your PPP/PFI projects.

    IMPORTANT: Please complete this application as fully as possible and return it to Consort Insurance, together with any relevant plans, Schedules of Condition or other supporting documents.

    JCT clause 21.2.1 (or equivalent) insurance

    Section 1 - General details

    :
    £
    £

    Section 2 - Existing property

    If the existing property is being completely demolished or the contract site has already been cleared, please proceed to SECTION 3. Otherwise, please answer the questions below:

    YesNo
    YesNo

    Section 3 - Surrounding property

    Please give a description of all surrounding property not forming part of the Contract Works:

    YesNo
    If Yes, please forward a copy of this to
    dahlia.osuoha@consortinsurance.com
    YesNo

    Section 4 - Construction and extensions

    Please complete DEMOLITION Section if applicable (where such demolition forms part of a contract for erection, reconstruction, alteration or repair by the insured):

    Demolition

    YesNo
    YesNo
    YesNo
    YesNo
    YesNo
    YesNo
    YesNo

    Section 5 - Declaration

    The undersigned declares on behalf of all parties proposing for insurance that to the best of his/her knowledge and belief, the statements provided herein are true and complete and all material facts or circumstances have been fully disclosed. The undersigned declares and agrees that the proposal form together with any other information supplied shall form the basis of any subsequent contract of insurance and undertakes to inform the insurer of any material alteration to those facts occurring before completion of the contract of insurance.