Subject of insurance are construction and installation operation, performed with high and low level of construction, materials and equipment, embedded installations and facilities, construction equipment and mechanization as well as expenses, related to the construction or cleaning of remains at the occurrence of insured event.
For the period of the insurance contract, the Insurer indemnifies the Insured for each malfunction, damage or loss with unforeseen and/or sudden character, for any reason, with the exception of the explicitly stated and additionally agreed exceptions of or in relation to sites, included in the policy, to an amount not exceeding the limits of each insurance event and to the amount of the insurance sum enlisted for each site. The insurance covers third-party liability of the investor or contractor for caused pecuniary and non-pecuniary damages.
The insurance is intended for investors, entrepreneurs, contractors and sub-contractors of construction and installation activities.
The insurance cover includes total loss or partial damage to all tangible assets at the construction site as a result of the sudden and unforeseen exhibition of the following risks:
– Breakdown in the construction process, caused by errors and lack of skills of the working personnel, negligence, unintentional omissions in the technology or the performance of the individual construction operations;
– Fire, explosion, lightning, impact or falling of piloted aircraft, its parts or cargo as well as the effects of water, foam or extinguishing agents;
– Storm (hurricane), heavy rain, flooding;
– Damage through weight by natural accumulation of snow and ice and/or freezing, avalanches, sea level rising (sea waves);
– Earthquake, sliding or collapse wo earth layers and rocks, sinking of the earth layers;
– Burglary, only for materials and facilities, enlisted at the site and located in locked premises;
– The insurance cover can incorporate the appropriately incurred expenses (required expenses) for cleaning of the site after the occurrence of the covered insurance event, but not more than the insurance sum agreed for them;
– The insurance coverage is also related to damages to materials, equipment and construction machinery, intended for the insured constructions site during their temporary storage at the site and during their installation and dismantling, as a result of the above stated risks (excluding robbery);
The Insurer will indemnify the Insured up to the limits, stated in the policy for sums, for which the Insured is legally liable to pay in relation to caused:
– Death, bodily injury or illness as a result of accident;
– Full loss or partial damage to movables and real-estate properties, belonging to third parties, to the extend they occurred in direct relation to the construction operations, insured according to Section “Pecuniary damage” and occurred at the construction site or in immediate vicinity to the site during the term of the insurance.
In relation to claims for indemnity as per the current section, the Insurer will indemnify the Insured also for:
– Awarded interest and court expenses for the case against the Insured, with the exception of layers fees;
– All other expenses, incurred with the written approval of the Insurer.
Loss or damage as a result of strike, riot and civil unrest.
Warranty service of the construction works.
Additional costs for over-time labor, night labor, work during holidays, quick transportation.
Property on storage, outside the construction site.
Damage of underground cables, pipes and other facilities.
Risk of the designer.
Vibrations, removal or enervation of the support.
The insurance sum as per the individual groups of properties is determined in the following way:
for construction and installation works – the full replacement value of the construction works as to the finishing of the site, including the value of all construction materials, labor costs, transport costs, rents, duties and other inherent expenses
for construction materials and equipment – the replacement value of machinery, facilities and equipment (of the same type and quality), as well as for materials, located at the construction site.
Insurance term – The insurance comes into force on the day of the start of the construction and its term continues to the final finishing of the site and its transfer with a hand-over protocol.
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