Sri Lanka Insurance Corporation General Limited (SLICGL) recently hosted an enlightening CAR (Construction All Risks) insurance Awareness Session at Courtyard by Marriott Colombo. The session aimed to educate stakeholders from the construction sector and the Road Development Authority (RDA) on the pivotal role of CAR insurance in mitigating risks inherent in construction projects.
Led by Dr. Weedige S. Sanjeewa, Head of the Department of Insurance and Valuation at Wayamba University of Sri Lanka, the session delved into various aspects of CAR insurance. Participants gained insights into coverage scope, benefits, risk assessment, policy features, claims management, and best risk mitigation practices.
SLICGL’s commitment to supporting the growth and resilience of the construction sector while safeguarding stakeholders’ interests and investments was a focal point of the session. The event provided a platform for meaningful dialogue, knowledge exchange, and networking among stakeholders to collectively address risk management challenges faced by the construction industry.
Expert speakers and industry veterans highlighted CAR insurance’s significance in protecting construction projects from unforeseen risks, liabilities, and financial losses. The audience comprised construction companies, contractors, project managers, engineers, and RDA officials engaged in infrastructure development projects.
The initiative gains importance as Sri Lanka experiences rapid infrastructure development, underscoring the need for robust risk management practices and adequate insurance coverage. CAR insurance emerges as a critical tool for stakeholders to navigate the diverse risks associated with construction projects, ensuring continuity and resilience in the face of challenges.
