Comprehensive cover at a competitive price. That’s what insurance is all about!
CONTRACTORS ALL RISKS INSURANCE
When arranging any type of Contractors All Risks insurance for you, we have clear common objective: To obtain the best insurance cover at the lowest possible price.
As a contractor you have to deal with a whole range of pressures in your business dealings: Low profit margins, complex calculations and possible errors in construction and input costs, compliance with timetables, a shortage of experienced manpower and meticulous rigid and site supervision by the principal. Asides all of this you are exposed to extensive financial risks arising from turnkey contracts which are the most common type of construction agreements these days, and in some cases serious errors can lead to financial ruin.
Busy and dynamic construction sites also present the risk of civil and criminal liability and the risks of accidents and injuries occurring during and after the construction works. For this reason it is essential to have the right insurance arrangements in place - Contractors All Risks, Products Liability and Professional Indemnity.
To obtain a quotation for insurance cover tailored to your needs
The extensive experience we have accumulated over the last 25 years in the construction insurance sector, the knowledge we have gained in the industry, our familiarity with diverse construction processes, our understanding of technical specifications and the countless hours we have spent at construction sites enables us to identify the risks you are exposed to and protect you against them.
Every project has its own unique aspects and complexity and we aim to ensure that every policy we arrange contains all of the extension you need to be as fully protected as possible. Contractors All Risks policies are not a commodity and need to be tailored to your precise needs.
✔ We are familiar with the requirements and attitudes of each insurance company. Providing insufficient information to the insurance company about the project quite often leads to higher premiums being quoted and so we have devised creative solutions to provide the insurance companies with all of the information they need to accurately assess the risk and provide the widest cover for the project at a competitive price.
✔ We believe it is important for us to be available at all times to provide you with professional advice and guidance at all stages of the project and thereafter. In the event of a claim, we work in close cooperation with a team of construction insurance experts to ensure your claim under the policy is paid fully and promptly.
✔ And what’s more…our reputation in the insurance industry as a specialist in construction insurance has enabled us to form close relations with underwriters and claims personnel in the insurance companies and the ability to obtain special extensions, reduced premiums and excellent service.
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You can rest assured that we will provide you whis the optimal insurance cover
Construction All Risks Insurance Tailored to Your Individual Needs
Each construction or property development project has its own unique aspects, and so each project needs a tailor-made Contractors All Risks insurance policy to address the diverse range of usual and unexpected risks that can arise along the way, as part of a comprehensive insurance package tailored to your needs…
Professional Indemnity insurance for contractors is a complex and intricate matter. If a truly “comprehensive” Professional Indemnity insurance policy was available for contractors, it would be possible to cover a very wide range of risks involved in construction projects, although this is not quite the case. On the other hand, contractors are required to provide a certificate of insurance including Professional Indemnity cover for major construction projects.
An example of the cover that is available is for lost income due to a fire at a construction site that leads to a deal in hand-over of the project.
For information or details about the type of insurance required,
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You’ve completed the construction project. You’ve handed-over the keys….but you continue to be liable. Products Liability insurance for completed operations provides you with cover for bodily injury or property damage to third parties as a consequence of construction defects. Whilst most Contractors All Risks policies provide cover for the duration of the actual project, Products Liability for completed operations provides long-term cover for your residual liability after completion of the project (in certain cases for up to 20 years).
Why do property developers need comprehensive insurance cover?
To cover various risks you may be exposed to arising from building contractors, subcontractors, equipment and property, timetables, raw materials, specifications, work procedures, legal requirements, municipal bye-laws and regulations, natural perils, work accidents…this is only a partial list to illustrate the diversity of unforeseen events that can arise in your field of business.