Construction and assembly

Construction and assembly insurance is addressed to construction companies, architects, designers, site managers, technical managers responsible for execution, distributors of construction materials, warehouses of construction materials, consulting firms specializing in consultancy by type of activity.

Usually, insurance of this type is optional, but there are some exceptions in which these types of insurance become mandatory, for example in the case of accessing European funds or in the relationship of companies with statutory authorities or when the Beneficiary expressly requests this policy in the Execution Contract.

How is this type of insurance concluded?

The insurance policy is drawn up based on the insurance application and/or the specific questionnaire request (in the case of airports, ports, railways, bridges or other works of art) completed by the insured. To these can be added, on a case-by-case basis, the Execution Contract, Technical Report, quantitative and value work charts, geo-expertise report, etc.

Covered Risks

Construction and assembly insurance includes 2 sections:

Material damage based on the execution works contract and can be insured against:

– Contractual works, including materials and other goods that appear during the execution of the contract

– Constructions and equipment of the beneficiary, owned by the beneficiary

– Construction equipment necessary for the performance of the contracted works

– Other expenses such as cleaning expenses in the event of damage, professional fees, architects, designers

– Construction works: civil, industrial, commercial, administrative, agricultural and/or assembly works (equipment, installations and productive/technological machinery).

Types of construction works that can be insured:

– residential buildings, offices, hotels, shopping centers, parking lots (underground and aboveground)

– industrial buildings: production halls, warehouses

– taxiways, asphalting works, construction or rehabilitation of railways, roads or motorways in or outside cities

– bridges and passages, tunnels, galleries

– sewerage works: laying pipes and ducts, water distribution systems

– utility networks: water, sewage, gas

– industrial installations: production installations and equipment

Third-party liability (as a result of the activity carried out) which includes 2 branches:

– Accidental bodily injury or illness

– Accidental loss or damage to property

INSURED AMOUNTS

For Section I, the insured amount is made up of the total value of the construction and assembly contract to which may be added:

– the total value of the materials and goods made available by the Beneficiary and which are to be incorporated into the construction

– the new value or the remaining value of the constructions and equipment owned by the Beneficiary

– the new value or the remaining value of the equipment, tools and machines owned by the Builder and used by him in the construction-assembly works

For Section II, the insured amount is chosen by the insured and is established in accordance with the limit per event and aggregated for the entire period of the works, unless it is contractually imposed by the Beneficiary.

Additional expenses may also be insured:

– cleaning of debris in case of damage;

– professional fees (architects, consultants, experts);

– fire brigade intervention;

– by court;

– with medical expertise;

– with technical expertise.

Exclusions

Loss, damage or liability caused, produced or aggravated directly or indirectly by:

– war, invasion, act of an external enemy, hostilities whether war be declared or not, civil war, rebellion, revolution, insurrection, strike, lockout, civil commotion, military power (dictatorship) or usurpation of power, group of malevolent persons or persons acting in connection with any political organisation, confiscation, conspiracy, requisition, nationalisation, destruction or damage by order of any government de jure or de facto, or of any political authority;

– nuclear reactions, nuclear radiation or radioactive contamination;

– intent or gross negligence of the Insured or his representatives;

– total or partial cessation of work;

– pollution or contamination;

– risks originating from space, such as: satellite, space shuttle, meteorite falls;

– the deductible provided for in the policy, for each event, to be borne by the Insured;

– indirect damages of any kind, including penalties resulting from failure to comply with execution deadlines, other contractual obligations, or loss of the contract.