While risk management sounds like a cliché, the importance of using insurance and guarantee as risk management tools often lacks the necessary attention. In extreme cases, insufficient coverage may lead to significant economic loss
or even project failure if unexpected risks events occur. On 26 March 2019, the Insurance Authority (IA) and the HKMA Infrastructure Financing Facilitation Office (IFFO) co-organised a seminar to showcase the strategic roles of insurance
and guarantee on project risk management. This article aims to summarise key messages taken from the seminar, which may be useful in facilitating stakeholders’ development of risk management strategy.
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