Product Overview
Natural hazards, design errors or third-party liability risks that companies face can be very complex and challenging while operating their construction sites. There are other intangible matters, such as delays due to the loss of key personnel, lack of reliable suppliers, and stop-work orders by the government that should be taken into consideration when planning and identifying existing hazards.
Only a recognized industry leader will go far and beyond to provide the most appropriate insurance solution tailored to the needs of a construction works.
Scope of coverage
The purpose of construction insurance is to protect the insured against an economic loss resulting from an accidental, sudden and unexpected physical damage. These can affect the project, civil infrastructure works and goods to be installed during the execution period. Including the preliminary phase at the construction site, such as the reception of materials and equipment that are incorporated at a later stage to works, excavations, land leveling, earthworks, temporary buildings, stream course deviations, and in general, any other part of the construction project.
Coverage extent to:
- Construction All Risk
- Earthquake and volcanic eruption
- Another natural catastrophe
- Maintenance
- Debris removal
What sets us apart
Our dynamic solution package is created to provide coverage for construction projects, and more specific proposals for large infrastructure construction projects. In addition to coverage, we focus our efforts to offer you a comprehensive plan that includes risk engineering services, design of your protection program, identification of potential hazards, recovery and start-up plans that help prepare you when an unexpected event occurs, and superior claims handling service.
Liberty Differentiating Coverage and Services.
- All risk coverage, including maintenance and tests
- Advance Loss of Profit (ALOP)
- Extra expenses and expenses for acceleration of works in case of delays
- Coverage and endorsements tailored to the unique needs of each client
