Russia is an economy on the up, and one of the most obvious indications of that success is the construction of complex skyscrapers. A panel of insurance experts discussed the challenges of providing insurance cover to such projects.
It has been said that the prosperity of a city at any given time can be gauged by counting the number of cranes on the skyline. In good times, cities build; there will be plentiful investors to fund such projects and plenty of insurance capacity underpinning that.
As one of the few global economies to have bounced quickly back to growth since the economic downturn, Russia is a case in point. Its construction industry is also benefiting from a wide-ranging stimulus package from government designed to get the economy moving again.
But insuring complex and large infrastructure projects is rarely an easy task and insurers have increasingly invested in innovative programmes and expertise to match the complexity of the projects they are providing protection for.
Russia, Property insurance, Reunion, Emerging markets