Construction Insurance and UK Construction Contracts
PFI/PPP projects in the United Kingdom
Principles and structures
The private finance initiative (“PFI”) was introduced in 1992 to encourage private sector businesses to tender to local and central government authorities for the provision of public infrastructure and services. Since then, over 700 projects have been completed and the total value of projects falling under the PFI/PPP umbrella in the United Kingdom exceeds £68 billion.