From 1 September 2011 the Public Transport Authority implemented a Principal Controlled Insurance Program for all publicly-tendered construction contracts.
Previous arrangements required contractors to obtain and maintain all insurances on a contract. This meant the cost was normally assigned to the individual contract and varying degrees of coverage were achieved.
Under the new arrangement, the PTA assumes responsibility for the following contract insurance requirements:
- Public liability (including general and product liability);
- Contract works (material damage); and
- Professional indemnity (on specific projects only such as Alliances).
All other classes of insurance required under the contract remain the responsibility of the contractor.
The program has two categories:
- A general (or “floater”) category for contracts worth up to $50 million; and
- Contract-specific cover for contracts of more than $50 million in value.
Further information is included in the relevant tender documentation, and the certificates of currency are available below along with tables outlining the deductibles for each policy of insurance.
Further information on the program can be obtained from Nicole Peters, Manager Procurement at the Public Transport Authority at email@example.com
Certificate of Currency