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Originally Posted by oldschoolcalgary
i work in architecture and have never seen this kind of insurance...
if you have any info, i'd appreciate it as it might be useful to clients/corporations i work with
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Quote:
Originally Posted by Envitro
Same here, not in construction/architecture, but I'm a Project Manager and the only cost overrun insurance that I know of is doing your job well so you don't get fired. That, and a healthy contingency to cover the known and unknown unknowns.
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I work in O&G and my company does provide a "cost-cap insurance" on certain operations that limits financial risk - at a cost. My CEO was talking about it when they rolled it out, and mentioned some other examples it was used and was talking about it being common, but I can't quite recall exact examples.