Project Insurance

Policies designed to suit your project.

We keep you confident.

Project Insurance Service

Everywhere construction works take place there is a risk of loss or damage. The liability for the loss or damages caused by construction works will be apportioned or allocated by the contract governing the works. This may mean that either contractor or the employer, or both, will be liable for this loss or damage. This is the reason why products like project insurance or Construction All Risks insurance have been designed and are available on the insurance market. Project insurance can take a number of forms depending on the complexity of the construction or technology project. Client’s requirements and the contractual necessities may also determine the minimum of coverage sought by parties to the construction contract. In the majority of cases construction insurance policies are wrapped up into the so-called insurance programme, which consolidates under one umbrella insurance policies applicable to main contractors and subcontractors. In the majority of cases this programme is negotiated on the basis of underwriting submissions, and usually managed by a sponsor. Construction policies may cover the risks likely to manifest during feasibility studies, design and design management and civil works.

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