initiative was developed by the Transport for London after research found 55% of cyclist fatalities in London between 2008 and 2013 involved HGVs.
The core notion of Farmers' CLOCS offering, launched in July of 2007, is that Swiss Re and a syndicate of high-quality institutional investors agreed in advance to purchase surplus notes increasing regulatory capital in Farmers if a Katrina/Rita type hurricane occurred and caused substantial losses for Farmers.
The trigger for CLOCS to go into action is after all of Farmers' reinsurance is taken, "so the probability of a catastrophic loss is relatively low," added Skwarek.
Academics and vehicle manufacturers outlined their research and progress in designing safer trucks for the construction industry and all CLOCS members, of which Mace was one of the first construction companies to sign up to the programme, have agreed that the same rigorous approach to safety observed on construction sites will now be applied to road safety in their industry.
This commitment to safety extends beyond the boundaries of our sites and we are delighted to further support the CLOCS standard by bearing the branding across our projects, to help reduce the risk to vulnerable road users.
Mace played a major role in developing the national standard and the introduction of CLOCS champions will help to further enforce the programme across the construction industry.
By working collaboratively we can ensure that we continue to improve the safety of our roads and I am delighted to see so many companies pledge their commitment to the CLOCS standards.
By becoming CLOCS champions Mace and our colleagues within the industry have agreed to promote the CLOCS standard throughout their own fleets, if they have them, and throughout their supply chains.
Sir Peter Hendy, Commissioner for TfL, said: I would like to thank all of our new CLOCS Champions for helping to make our streets safer for everyone who uses them.
Over 60 organisations including some of the UK s leading developers and construction firms now support the CLOCS programme.