Construction and erection (CAR/EAR) insurance
Both the Principal and the Contractor should look after not only the proper course of the processes of designing, constructing and operating an investment. In particular, they should also look after the security of construction by concluding an adequate insurance policy covering the construction and erection risks, based on the “All risks” model.
The policy provides security, among others, from the risks of occurrence of property damage resulting from random events, associated both with forces of nature or human activity.
The subject of insurance includes the construction and erection works and elements, listed in the insurance agreement and declared in the sum insured, constituting the subject of the contract and conducted or situated in the construction site specified in the insurance agreement. The Polish law does not oblige the Principal or Contractor to insure the investment process. It is optional, and its aim is to reduce or compensate the damage that may occur.
Moreover, the scope of the additional CAR/EAR insurance, i.e. the tort liability insurance (so-called “Section II”) includes the security against the risk of occurrence of damage caused to third parties or on their behalf, during the whole period of the policy or during the whole period of the construction process, for which the given insurance has been concluded. The construction and erection insurance may be concluded in the scope of insurance against property damage (“Section I”) or on the basis of civil liability insurance (“Section II”).
The scope of insurance covers all the risks that the Insurer has not excluded from the scope of protection, including, in particular: forces of nature, burglary and theft, robbery and vandalism, defects in materials, in design, mistakes of construction workers and other participants in the construction process, acts of third parties.
As an insurance broker, ATTIS Broker Sp. z o.o. is specialized in insuring construction investments and offers services in the following scope:
- adapting the provisions of agreements concluded with contractors to the conditions offered by the insurance market for the purpose of finding the optimum solution that provides the broadest protection of the investor on the basis of the services offered by the insurance market,
- issuing an opinion on terms and conditions of the construction (CAR/EAR) insurance presented to the investor by the contractors,
- issuing an opinion on the civil liability policies of the contractors for the purpose of providing the broadest protection of the investor and adapting the policy terms and conditions to the contractual requirements.