Berkshire: Investment in infrastructure brings flurry of investment, reports JLT Speciality

Infrastructure is a particular focus for investment in the Berkshire region at the moment as highlighted in a recent report by JLT Speciality based in Reading. The region is currently undergoing an unprecedented series of major infrastructure investments in its national road and rail network costing approximately £5 billion. 

Alongside motorway projects for the M4 and road improvements in Slough, Newbury and Bracknell, a new rail station at Green Park, Reading, on the Reading to Basingstoke line will improve public transport accessibility and reduce local road congestion. 

Meanwhile, housing developments are planned in Wokingham and Bracknell, creating thousands of new homes, schools and other community resources. Despite the optimism surrounding these projects, their scale brings risks of attracting negative media attention, disrupting local businesses and communities and running over budget.

Peter Cant, head of the Reading risk practice, said: “If the benefits of such infrastructural investment are to be fully realised, effective risk management and mitigation and transfer are vital. 

With large-scale projects the optimum insurance solution is not always achieved, however, because procurement teams are sometimes overly focused on price, which can result in insurance products being purchased that are not necessarily fit for purpose. We have seen deals where, from an insurance perspective, there is disproportionate loading on up-front cost, with less emphasis on overall value for money.”

To read more about the investment planned in the south region and the risks they face, see JLT’s recent Whiteboard publication click here.