8th BIM Workshop
VENUE: Royal College of Physicians,
No. 6 Kildare St., Dublin 2
Chairman: Mr. Michael Moriarity, President of ACEI
Keynote Speaker: Steve Bamforth, Griffiths & Armour
Keynote Speaker: Stephen Bamforth - Griffiths & Armour
Stephen specialises in advising construction consultants on their professional indemnity insurance requirements and maintains an active involvement with both key clients and insurer partners. He represents G&A on a number of industry sector trade bodies and professional associations and works closely with government on proposed legislative changes and innovative approaches to the management and insurance of risk within construction.
Title: Applications of BIM in Assessing Financial and Insurance Risk
As with the legal issue, there are concerns that insurers may not understand BIM. They may see it as something "new and untested", without realising the benefits to reducing risk on projects and consequently charge a premium to insure BIM projects.
Equally, project investors/financiers may not understand BIM or the overall cost savings and quality improvements anticipated from a BIM process to projects - the 20% anticipated savings could mean the difference between a project being viable or not, but this needs to be demonstrated/understood.
Hopefully insurers and banks will participate in the discussion.
An outcome of this workshop could be a set of briefing documents about opportunities rather than risks that BIM could bring to projects.