Insurance of construction and installation risks
Types of insurance coverage
All risk insurance (CAR)
All-risk insurance for installation works (EAR)
Public liability insurance (TPL)
Insurance of loss of expected profit of the customer (ALoP) / delay in commissioning of the construction object (Delay in Start-up)
Features of insurance
- The liability of the insurance company to the client (customer or contractor) increases in proportion to the increase in the value of the building (facility) under construction.
- The insurance coverage is valid for the entire period of contractual works, idle and operational tests of equipment, starting with the performance of preparatory works or unloading of the first batch of the insured property at the construction site and ending with the moment of commissioning of the facility.
- The contract may be extended for the warranty period stipulated in the contractor agreement, or in case of extension of the construction period - for the period of such extension.
Benefits of insurance in INGO
Different types of coating
Control of risk management
The most likely events leading to losses during construction and installation works:
- Destruction or damage to the construction object (buildings or structures) being constructed by a contractor, construction equipment, machinery and equipment at the construction site, real estate owned by the developer
- Fire or explosion during operational tests and acceptance of work when the installed equipment is loaded with raw materials
- Damage as a result of settling, subsidence of foundations, vibration
- Losses due to errors in the design or defects in structures and materials, errors in calculations, human factor, including insufficient qualification of personnel
- Interruption (suspension) of construction, delay in commencement of business operations at the constructed/installed facility
- Material damage or personal injury to third parties
- Theft on the controlled construction site
- Losses due to short circuit, electrical breakdown, overvoltage
The level of financial stability of INGO
outlook - "Evolving"
Frequently asked questions
Currently, it is not possible to include war risk coverage in the insurance program.
Yes, we take into account the individual characteristics of each project, so we use special additions to the standard coating. They can be divided into 3 groups:
- Clauses that extend the standard scope of insurance coverage
- Clauses that narrow the standard scope of insurance coverage
- Additional obligations of the insured
When insuring construction and installation risks, it should be borne in mind that the liability of the insurance company to the customer or contractor (i.e. the client) increases as the cost of the building under construction increases.