Public-Private Projects JLT took the strategic decision to invest in developing a specialist capability dealing with P3 style projects to their unique risk profile, combining construction and operational risks and the dynamics of the public and private sector interface.Our first P3 team, based in London, was established in 1995 to provide insurance and risk management services to the construction and facilities management sectors, authorities and financers. We now have P3 capabilities across the globe with experienced personnel in the U.K, France, Hong Kong, Latin America and Canada.The P3 teams work alongside the specialist industry sector groups within JLT to ensure our clients always receive the advice required to mirror the individual transaction requirements. We believe that we have a unique set of abilities within our teams that will deliver the best risk solution to any individual or portfolio of projects. We have extensive P3 experience, having acted for more than 200 closed transactions (100 transactional and 100 advisory). Our expertise/lessons learned across the globe on P3 style projects provides clients with unsurpassed intelligence on this subject. From our experience it is clear that one needs to take a proactive role to ensure that the most cost effective risk and insurance solution is delivered.Services are tailor made, but typically include all aspects normal to non-P3 insurance services on a preliminary and ongoing basis, as required, plus: Review of Project RFP and associated documents Assist client proponent in making its construction bid for the P3 project, including review and handling of requirements for insurance programs in RFP, Partnership Agreement, Loan Agreement, and draft Construction/Design Agreements Placement of Insurances should client proponent be awarded the project Signing of Brokers’ Letter of Undertaking to Lenders, verifying insurance is in place to certain levels and specifications and agreeing to otherwise deal with specific requirements and monitor specified parameters for the life of the project Assist as required in any loan syndication requirements post project award Assist in preparation of all insurance documents required to financial close General services related to initial and ongoing risk review, contracts review, bid strategy, establishment of insurance program, establishment of actual and estimated insurance costs (construction and operational phases) for bid purposes Liaise with various parties’ legal counsel as required; including as to any assignment of policy documents procedures Negotiation with government entities and lenders (and/or their insurance consultants) as required; early anticipation of lender requirements where possible Review of Delayed Start Up and Business Interruption requirements in relation to Project profits and/or debt serving requirements of lenders or equity investors.