This Code of Practice is the latest edition of a Code prepared jointly by the insurance and tunnelling industries. It’s aimed at reducing the frequency and severity of serious incidents resulting in insurance claims, to within sustainable boundaries. The Code has been in use since 2003 by the Insurance industry as a benchmark against which projects can be assessed.Read more
The 3rd Edition responds to an industry-wide survey that canvassed opinions on the application of the Code to date. It addresses revisions around competence and culture, differentiating between risk management and management of risk, digital modelling, improved language on instrumentation, monitoring and emergency response plans, and the importance of managing high consequence events.
The Code sets out industry best practice for the management of construction risks in underground works. If followed, these should reduce the risk of significant losses (insured and uninsured) across the industry. The Code’s widespread adoption since 2003 has succeeded in reducing incidents and losses to tolerable levels.
The Insurance industry now uses the Code as a benchmark against which projects can be assessed. Insurers may require compliance with the Code as a pre-requisite for their provision of insurance cover for damage to the works during construction.