Construction and installation risks insurance

The contract covers different stages: from the development of a feasibility study to the commissioning of the construction project.

Risks

An insured event in construction and installation risks insurance is damage caused by events, which have a certain probability of occurrence:

• fire, explosion, lightning strike, aircraft crash devices;
• tornado, hurricane, storm, typhoon;
• avalanche, mudflow;
• flood, flood, rain;
• collapse, landslide, soil subsidence, soil flooding waters;
• earthquake;
• illegal actions of third parties, including theft;
• utility network accidents (water supply, sewer, heating supply, electricity supply);
• installation errors;
• collapse or damage to the insured object as a result of a collision or collision with moving construction equipment;
• collapse or damage to an object, including collapsing or falling parts.

The main task of the insurance company is not only to compensate for sudden and unforeseen damage, arising during the construction of objects, but also to protect investment in construction.
 

Objectsinsurance

• construction work, including building materials and structures, salary costs, transportation costs, customs fees and duties, as well as construction elements and materials, supplied by the customer.
• installation work, including installed equipment, salary expenses, expenses for transportation, customs fees and duties, as well as materials, equipment and services, provided by the customer.
• property at the construction site (temporary buildings and structures, warehouse premises, scaffolding, engineering communications, construction machinery and equipment) according to the list attached to the insurance contract.
• expenses for clearing of the territory specified in the insurance contract from the remains of property, injured as a result of an insured event.

When insuring liability to third parties during construction and installation work:

• causing harm to life, health and/or property of third parties during the performance of construction and installation works specified in the insurance contract.

47.8 million tenge - the volume of premiums for this type of insurance in 2015.

Post-start warranty obligations of the policyholder, related to losses,causal due to:

• deficiencies, admitted during construction, installation and commissioning operations, identified during the warranty period operation;
• deficiencies, admitted when the insured fulfilled warranty obligations.

Advantages

• Insurance company with a high international rating and level of customer service.
• Quality service.
• Operational conclusion of an agreement.
• Flexible insurance conditions.
• Reliable reinsurance protection.
• Fast and unconditional fulfillment of obligations to clients.
• Possibility of concluding an insurance contract for a period equal to construction period.