FAQ

• Combined insurance solution specifically for a construction and/or installation project
• Replaces the business and professional insurances of all contractors
• Usually concluded by the building owner
• Has only one insurer, which is the addressee for all damage scenarios
• Generates various benefits for the client and all contractors

• Building owner
• All contractors from planning and construction
• For example
  

  Planning	Construction
  Architects	General contractor
  Specialist planner	Main contractor
  Surveyor	Subcontractor
  Project Manager	Subcontractor
  Project developer	Working groups
  …	…

  Planning
  | Architects
  | Specialist planner
  | Surveyor
  | Project Manager
  | Project developer

  Construction
  | General contractor
  | Main contractor
  | Subcontractor
  | Subcontractor
  | Working groups

  …

All insurances relevant to a construction and/or assembly project for all contractors involved in the planning and execution are combined in the project insurance.

• Construction work and assembly insurance
• Builder’s liability insurance
• Planning liability insurance
• Public liability insurance
• Environmental liability insurance
• Environmental damage insurance
• Construction interruption insurance (optional)

• Only one insurer for all loss scenarios
  • Thus no disputes or legal disputes between different liability insurers of the contractors.
  • Clear and fast claims settlement
• Building owner has absolute transparency and clarity about insurance cover
• Uniform and high-quality insurance cover for all contractors and the client
• Avoidance of interfaces in insurance cover between planning and execution as well as main, subcontractors and sub-subcontractors
• Easy access to liability insurance cover even after completion along the limitation periods of warranty claims or in the event of insolvency of the contractors
• Waiver of recourse by the insurer against the contractors or their business and/or professional insurances

New construction, conversion and renovation

• Building construction projects
  • e.g. residential and commercial projects, hotels, hospitals and care facilities as well as neighbourhood developments
• Industrial construction and assembly projects
  • e.g. factories and plant expansions
• Mechanical and plant engineering
  • e.g. combined heat and power plants

• Starts with site set-up including retroactive insurance cover for upstream planning activities
• Ends with overall completion including downstream insurance cover for damage within the limitation periods of the statutory warranty
• For industrial buildings and/or machinery and plant construction Co-insurance of the trial operation phase

• The builder pays the premium and receives compensation for damage to the structure
• The premium is apportionable to the contractors
• In order to save on their own insurance premiums, contractors may exempt their business or professional insurance policies from premiums and claims or convert them to subsidiary cover

• Risk analysis and development of an adequate hedging solution
• Tendering and negotiating project insurance in the insurance market
• Explanation and coordination of the project insurance with authorised third parties
  • e.g. lawyers, banks and contractors
• Continuous advice on insurance law issues
• Control and monitoring of claims settlement
• Interface control when insurance cover is transferred to the subsequent use or operating phase