Contractors All Risks Insurance – giving you peace of mind and protecting your assets
The need for a comprehensive policy to cover building contractors always raises the well-known dilemma: On one hand faults such as property damage, bodily injury, third party liability are some of the most common and prominent features of the building industry, and on the other hand without contractor’s insurance – you will have to pay for the damage out of your own pocket, something that can have serious to catastrophic implications.
The building contractor bears a very high level of responsibility both from the perspective of the legal duties imposed on him in various areas, especially concerning safety at work regulations and potential criminal offences arising from such violations.
Another point is the fact that project contracts sometimes impose huge financial responsibilities on the contractor, a common feature of turnkey contracts in which errors in calculating project costs can lead to financial collapse – a regular phenomenon in the industry.
It is therefore important to professionally formulate your Contractors All Risks insurance portfolio to ensure you are fully covered against unforeseen losses at the construction site. That’s where we come into the picture.
Important to know – Certificates of insurance of the contractor
To obtain a quotation for insurance cover tailored to your needs
For an effective insurance solution you need an experienced insurance agent!
The vast experience and knowledge we have accumulated in the construction insurance industry is reflected in our reputation with the insurance companies and the trust they place in us when arranging Contractors All Risks insurance policies. This enables us to provide you with several distinct advantages:
✔ Cost – We aim to obtain significant premium reductions for various insurance policies such as Contractors All Risks, Professional Indemnity or Products Liability.
✔ The scope of cover – We tailor a policy to your needs from the outset thereby ensuring that all gaps are closed. We conduct negotiations during the underwriting stage rather than waiting until a claim occurs.
✔ Creative solutions – Each and every construction project has its own uniqueness and hence it is sometimes necessary to find solutions for products or covers that were not previously available. Our experience enables us to devise unique solutions in such cases.
✔ Hands-on guidance – In the unfortunate event of a claim, we work with a team of insurance experts including specialist accident investigators and lawyers who can guide you through the entire process in the event of a severe accident.
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Constructors all risk insurance
n all types of Contractors All Risks insurance we leave no stone unturned to obtain the wides insurance cover at the lowest possible price. In addition to our proven success in obtaining the best cover at the lowest price, we can offer various other advantages and added-value that makes it all the more worthwhile to arrange your policy with us.
National outline plan 38 project insurance - essential information
National Outline Plan 38 projects to reinforce buildings against earthquake are some of the most complicated in the field of urban renewal insurance. Since the works involve a high risk and the probability of claims, the insurance company are not always very keen on covering projects involving earthquake reinforcement of any type. We have access to insurance companies that are willing to cover such projects.
Professional indemnity insurance for contractors
Who pays compensation for delayed hand-over due to a fire at the site? This is just one example of many scenarios that can be protected by insurance. Experience shows us that there is no such thing as a flawless construction site or a contractor who never makes mistakes and professional indemnity claims can involve large amounts of money.
Products liability insurace for contractors
This policy covers building faults that have not yet been discovered and covers damages arising from a defective product (the building) or any part of it after completion of the project. Cover for “Completed Operations” under a Products Liability policy provides you with long term protection.
To obtain the widest cover at the lowest price you need an insurance agent with experience in the construction insurance sector.
National Outline Plan 38 project safety
Paying attention to safety regulations in National Outline Plan 38 projects is particularly important. These projects involve unconventional construction sites which are occupied by residents and construction workers at the same time. This necessitates paying meticulous attention to safety not only by the workers but also by the residents in the building who are unfamiliar with latent hazards at construction sites.
f you are a main contractor it is important to know: It is prohibited to employ subcontractors with reporting them to the National Insurance Institute on Form 648