Megaprojects: insure, reinsure, avoid?

Insuring megaprojects is a complex task for all parties involved. In this spotlight paper, we focus on the (re)insurance implications surrounding the delivery of infrastructure megaprojects. We highlight the context in which large losses may occur, showcase how (re)insurance policies may respond and address potential misconceptions around what may be covered by current Construction All Risks (CAR) wordings, while keeping the realities of a megaproject in mind.