We’re pleased to tell you that our judicial review cover now includes delay costs as standard, for no additional premium. In other words, specific costs arising in the event of a judge awarding an interim injunction that delays works on-site.
The delay costs covered are:
- Interest payable on capital monies borrowed for the construction work
- Contractual penalties and standing charges (excluding wages, salaries and staff costs)
- Additional expenditure to relocate and use plant or other equipment elsewhere, which was acquired or leased for the construction works
- Depreciation incurred on such plant or other equipment which cannot be relocated and used elsewhere
And acting on market feedback, we have also amended our policy term from six months, now extending it to offer an indefinite term, to take into account the ambiguity around the time restriction for a Judicial Review application to be made.
We were one of the first firms to issue a judicial review policy back in the 1990s, and we continue to be competitive, continuing to review our pricing and cover to ensure we stay the market leader, offering the best cover at the most competitive premiums.