Construction and Erection All Risks Insurance

Main covered risks:

• Material damage:

Construction works: the full value of the construction and installation works undertaken until the completion of the construction (temporary and permanent), including the value of all materials, labor, delivery costs to the site, fees, customs duties, liabilities, profit, as well as materials and construction elements provided by the investor for incorporation;

Machinery, equipment, and inventory: the replacement value in new condition of the same or similar in type and performance, sufficient for their replacement on the site. Additional costs for overtime, night work, work on public holidays, and urgent transport are covered by this insurance only if explicitly agreed upon in writing in advance.

• Liability to third parties, as a result of:

Bodily injury or illness to a third party due to an accident (with or without fatal outcome);

Losses and damage to property owned by third parties, due to events occurring in direct connection with the execution of construction or installation works, happening on or around the construction site.

• This insurance does not cover household contents or property of individuals;
• Physical loss, destruction or damage to: jewelry, valuable furs, ingots, precious metals or gemstones; registered vehicles, animals; land, plants; bridges, canals, roads and tunnels, railway lines; quays and harbors; property below the surface of the earth; documents, securities or checks, etc.

Full information can be found in the General Terms and Conditions of the insurance.