The insurance policy covers material damage that may occur during construction and assembly activities, as well as liability to third parties for property and non-property damage. The policy is active for the duration of the construction project, and additional coverage may be provided for the warranty period.
Insured parties may include:
- Investors who assign a project for implementation;
- Construction contractors who perform the construction activities;
- Subcontractors;
- Suppliers;
The insurance policy covers the following risks:
- Fire; explosion; lightning, collision or fall of a manned aircraft and/or its parts or cargo, explosion, fire extinguishing;
- Natural disasters;
- Earthquake, landslide or collapse of earth layers, subsidence of earth layers;
- Theft by burglary, robbery;
- Malicious acts of third parties, vandalism;
- Strikes, riots, civil commotion;
- Liability to third parties for property and non-property damage;
- Poor workmanship;
- Defects in the materials used;
- Costs for limiting damage and clearing up debris after the occurrence of an insured event;