The construction and erection risk insurance provides protection against unforeseen events occurring during the construction, erection, overhaul, reconstruction of buildings and structures and the guaranteed maintenance of the object of construction/erection.
The following construction works may be insured
industrial objects (industrial buildings and infrastructure facilities, such as road and railway constructions, airports, seaports, bridges, canals, canals, dams, tunnels, gas, oil and product pipelines);
civil engineering structures (office buildings, housing, etc.);
objects on or in the vicinity of the site belonging to the client or contractor.
In addition, construction equipment (excavators, cranes, transportation mechanisms, etc.) and site equipment (owned or rented) may be insured for the duration of the works.
The insurance contract for the construction period guarantees, among other things, compensation for losses due to the occurrence of any unintentional events caused by fire, explosion, natural disasters (floods, earthquakes, etc.), damage to engineering networks (water, gas and heating pipes), unlawful acts of third parties (theft, intentional damage/destruction of insured property).
The period of validity of the policy is estimated to coincide with the completion of the construction-assembly works, including the period of acceptance and warranty. If the execution of the works is delayed, an additional premium will be charged to extend the insurance.
