Insurance of construction activities. Insurance of investment and construction activities

Insurance of construction activities is an obligatory procedure for allowing the contractor to start construction work. But to date in the domestic construction market the situation has developed in such a way that the investor or the customer does not have the right to choose a certain construction company. All orders are processed through tenders, in which each construction organization can take part. Well, the insurance of construction activities of the SRO will reduce the financial burden and will significantly reduce the costs associated with the erection of the facility and putting it into operation.

Why you need insurance

In general, insurance guarantees the protection of property of construction participants, reduces losses from the destruction or damage to construction sites, property, necessary building materials, assuming all financial risks. As the insured can act all the participants in the construction - from designers, engineers to lessees of special equipment. Each of them is interested in insuring their part of the work: architects and designers protect the project of the new building they created, engineers - their professional reputation, general contractors - liability risks, lessees - special equipment leased, etc.

Types of construction insurance

In general, construction activity insurance is:

• Turnkey insurance. In this case, the general contractor is responsible for the erection, delivery of special equipment and construction materials, installation, commissioning works ;
• On the principle of "supply and control" - involves insurance of property in construction activities, provision of construction process with materials, necessary special equipment and equipment, employees, etc., by the customer himself. The general contractor has overall control over the installation and construction. Responsibility in this case is insured by representatives of the general contractor, and the customer insures property risks.

How the contract is drawn up

All property used on the construction site can be insured by the CAR-EAR system, which provides protection of buildings and temporary structures, technological equipment, engineering networks and other. The insurance contract is concluded between the representatives of the construction company and the agent of the company. The contract must necessarily specify the objects and processes to be protected. It:

• Products of construction and installation works;
• Special equipment and installation equipment;
• Temporary buildings, as well as buildings intended for overhaul, reconstruction or demolition;
• The results of the work of installers and engineers: paved engineering communications, mounted equipment and so on.

A separate point of the contract establishes the date of the beginning of the insured period. In most cases, the starting point is either the date of obtaining a construction permit, or the day of the immediate commencement of construction work. In some cases, a retroactive period of insurance is indicated.

Provision of insurance coverage

The next mandatory item of the insurance agreement is insurance coverage. It is provided on the principle of "protection against all risks". This allows the insurance company to support builders not only in the event of classical hazards: fires, natural disasters, civil liability to third parties, but also from specific risks that may arise. Among them, the most common are:

• Errors of designers;
• Defects in building materials;
• Shortcomings and misses in the work of staff;
• Damage caused by electric shock;
• Rupture of cables and other breakages of installation equipment;
• Other.

Sum Insured

The obligatory clause of the insurance contract is the amount of compensation in the event of an insured event. During the period of direct construction, the total value of the erected object increases from zero to the full market price. The same amount is growing with insurance premiums. But do not think that the insurance of investment and construction activities is carried out remotely, and company representatives are limited to only paper reports on the progress of work performed.

Each stage of the building is necessarily subject to an independent expert evaluation. The independent expert evaluates such factors as:

• Quality of construction at intermediate stages;
• Quality of construction and installation works;
• Observance of construction technologies;
• Evaluation of measures and means to ensure the safety of the building;
• Other.

Expert evaluation can provide both an insurance company and an independent expert organization that has the right to carry out such conclusions. In any case, the conclusions of specialists must be reported to the designers and builders. Also these conclusions directly affect the final construction budget - the fewer remarks to the work of builders, the higher the level of security at the site - the lower the insurance premiums.

Conclusion

Insurance of construction activities, as can be seen, has a systemic character in which all parties are interested in an objective and fair approach. Thanks to the implementation of insurance programs for unique objects, each contract concluded is universal. It can include the protection of all construction equipment and special equipment on construction sites, including what is used as short-term leases. It is also possible to include insurance programs for workers and specialists from accidents, medical insurance, civil or professional liability of construction companies to third parties. Finally, the company itself, which insures construction activity, necessarily includes itself in international reinsurance programs, which guarantee it fulfillment of its obligations and providing payments in the most critical cases.