We have developed construction and assembly risk insurance for business entities from the sector of small, medium and large companies that want to protect a construction or assembly project against chance events, such as: execution errors, design errors, fire, explosion, burglary, natural disasters and third party actions.

The insurance is directed primarily at:

• investors (principals),
• contractors and subcontractors,
• institutions financing construction or assembly investment projects.

The information necessary to conclude an insurance contract is determined at the risk analysis stage by the underwriter.

In order to conclude an insurance contract, we need, among others, the following details:

• description of the contractor's experience and a list of the largest contracts of a similar nature completed in recent years (references welcome),
• a copy of the construction contract(s) with an indication of the contract value,
• a copy of the material and financial schedule,
• design documentation including at least: description of the method of foundation works and ground conditions, description of works and technology of execution of works,
• the exact place of work,
• description of site security mechanisms,
• list of construction machines (if they are to be covered by insurance),
• description of existing property (if it is to be insured),
• the contractor’s claims history (if available) for at least the last 3 years.

Valuation of the cost of insurance requires a professional risk assessment.

The price of insurance is determined individually depending on the scope of insurance, type of contract, level of complexity of works, place of work, experience and claims history of the contractor and other individual factors that affect the risk - we also take into account past claims.

The amount of deductible or deductible franchise is determined individually. It depends on factors taken into account in the risk assessment. For medium-size investment projects, the deductible with standard insurance coverage is usually about PLN 10,000.

In individual cases, we can set a different amount of deductible franchise – according to the level of risk.