Unexpected Archeological Discovery Insurance

The discovery of archaeological remains during the course of works can be a disaster for a developer and can lead to long and costly delays, conflicts with archaeologists and planners, cancellation and heavy financial loss. This country is extremely rich in archaeological remains still undiscovered under the soil. This evidence of the past is regarded as a priceless and irreplaceable national asset and legislation serves to protect it: the National Planning Framework (2012) puts archaeology and other heritage matters for the first time at the heart of the planning system. Most local planning authorities also have firm policies designed to protect archaeological remains.

Prospective developers routinely face planning conditions requiring the safeguard of the archaeological resource at every stage. Even with the best of preparatory archaeological advice and the most rigorous of assessment and evaluation, the possibility of an unexpected discovery once development has commenced is ever present. The unexpected discovery of important remains can have serious consequences for all parties, and the conflicts which can arise between archaeologists, developers and planners may be difficult to resolve. Additional archaeological costs alone can be very significant and developers can also be saddled with huge delay costs, the cancellation or redesign of a scheme and the wiping out of any anticipated profit. Developers should anticipate these risks and insure themselves against such consequences.

Unexpected Archeological Discovery Insurance

Summary of Cover

Adam Brothers Contingency can arrange effective and comprehensive coverage against unforeseen costs arising from an unexpected archaeological discovery. These costs can arise in any of four major ways:

Delay Costs

Delay costs are defined as being additional costs incurred in relation to the delayed completion of the development, which the insured becomes legally liable to pay. This is likely to be the most significant unexpected cost to the developer.

Archaeological Costs

Archaeological costs are defined as being all costs incurred, with the prior written consent of underwriters, in undertaking a scheme of archaeological work, including fieldwork, post-excavation work and preparation of results to an agreed standard for publication, which is required by the planning authority or other statutory or curatorial organisation, to the standard of best recognised professional practice.

Cancellation Costs

Cancellation costs are defined as being costs incurred as a result of the necessary cancellation of all or part of a project because of revocation of planning consent or the designation of unexpectedly discovered remains as a Scheduled Ancient Monument.

Redesign Costs

Redesign costs are defined as costs necessarily incurred by the developer as a result of a requirement to revise the layout or constructional details of a project in order to ensure the preservation of unexpectedly discovered archaeological remains.

It is also possible to cover any other provable loss that may be incurred as a result of an unexpected discovery, such as loss of profits or decrease in value.

Contact us for a Unexpected Archeological Discovery insurance quote

To discuss an insurance quote, please contact our Contingency insurance team on:

Telephone: +44 (0)20 7090 1109

Email: contingency@griffithsandarmour.com

Adam Brothers Contingency is part of Griffiths & Armour Global Risks.

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