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Insurance of construction and assembly works

Insurance of construction and assembly works

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This type of insurance includes the following and insurance protection applies to all risks occurring as a result of unexpected and sudden events:

  • Insurance of construction and assembly risks
  • Insurance of civil liability

The sum insured is determined in respect of the following:  

  • Construction and assembly works – shall not exceed the design face value of works, as well as the estimated cost of materials and other construction elements, wages, transport expenditures, customs dues and other associated fees
  • Construction machinery and procurement of the building site – shall not exceed the cost of rehabilitation of machinery and equipment, or actual (market) value of new, lost or damaged machinery and equipment, as specified in the insurance agreement

At the time of civil liability insurance, the sum insured is determined as mutually agreed between the parties as the limit of compensation for damages caused to the following persons:

  • Damages to life and health of individuals
  • Damages to properties of individuals and real entities