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Optional insurance types

Construction risks

The insurance object is the Insuree’s property interests, connected with unpredictable expenses and losses, resulting from installation and construction and other works on the construction projects’ erection. According to this agreement, the Insuree can be any natural or legal persons, who are facing the risk caused by installation and construction works.

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The insurance object is the Insuree’s property interests, connected with unpredictable expenses and losses, resulting from installation and construction and other works on the construction projects’ erection. According to this agreement, the Insuree can be any natural or legal persons, who are facing the risk caused by installation and construction works.

Insurance objects:

  • installation and construction works;
  • materials;
  • installed equipment;
  • temporary buildings and edifices;
  • installation and construction equipment;
  • liability in front of third parties for installation and construction works;
  • expenses on the ground breaking, caused by the insurance event, i.e. expenses, necessary to regularize the building territory for further works.

Insurance security against:

  • Fire, explosion, natural calamities (hurricanes, earthquakes, floods, landslides, etc.);
  • electric current activity (short circuit, atmospheric discharge, etc.);
  • installation and construction works error;
  • workers and operating personnel incautiousness;
  • the insured materials and objects defect;
  • falling of objects, chain and hawser splitting;
  • abusive actions of third parties;
  • materials and mechanisms theft;
  • thefts, accidents of construction equipment and vehicles;
  • Sewerage system, water-supply, central heating, gas and fire extinguishing systems accidents, water invasion from neighboring  (someone else's) premises,
  • unpredictable power, water-supply, central heating cutoff from exterior sources.

Insurance agreement can be signed for the period to one year, one year and more or for the installation and construction works period.

In the installation and construction works insurance agreement can be indicated the following exceptions:

  • military and political risks, public commotions, terrorism;
  • nuclear explosion, nuclear radiation or radioactive contamination;
  • projecting errors;
  • loss, caused by demolition, corrosion, combustion, decomposition, spontaneous inflammation and by other peculiar features or natural qualities of materials;
  • the Insuree’s intention (his direct employees);
  • errors, lacks and defects, the Insuree was aware of before the insured event took place;
  • indirect losses of any type, including forfeits, fines, loss from expiration, violation and decline of the agreement and lost profits;
  • loss or damage of documents, schemes, account books, bills, money, stamps and prints, certificate of indebtness, stocks, cheques, information, computer programs or data;
  • deficiencies and damage, found only in the process of inventarisation;
  • Damage, caused by research or experimental works.

Franchise:

The installation and construction works insurance policy always foresees the destiny of the Insuree in loss compensation — Franchise. Franchise can be fixed in full size or in per cents to the insurance amount or loss size. Loss, not exceeding the franchise amount, will not be compensated.
Insurance rate 0,15 – 0,9%.

Cargo carrier liability insurance

Cargo carrier liability insurance directed at the cargo carrier property interests in case of cargo, life, health or property damage of the third parties during cargo transportation and shipping activity. This type of insurance is very often applied with cargo insurance (on the road and in warehouse), which provides the fullest property interests insurance security of the parties.

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Cargo carrier liability insurance directed at the cargo carrier property interests in case of cargo, life, health or property damage of the third parties during cargo transportation and shipping activity. This type of insurance is very often applied with cargo insurance (on the road and in warehouse), which provides the fullest property interests insurance security of the parties.
The thing is, that because of plentiful unfavorable events (e.g. under extreme and unpredictable events, as well as because of other events) the carrier can’t provide the guaranteed cargo security, and in case of the insured cargo damage or loss the insured company, which compensated loss to the cargo owner, will claim to the guilty party. And almost always the cargo carrier is this guilty party. That’s why the cargo carrier liability insurance is of such importance in transport logistics.

The most common transportation risks:

  • Liability for destruction and damage of cargo, which is the subject to transportation;
  • Financial losses liability;
  • Third parties liability

The insurance amount is proportional to the current amount of  the price of cargo (in case of one particular transportation insurance), which is to be transported, or is set up by the parties’ agreement as a total liability limitation on all insurance events (in case of insurance for the agreed period).
Insurance rates are fixed individually, depending on the activity of the Insuree, and on the conditions upon which the insurance agreement is drawn up. The insurance cost can be influenced by the cargo size; quantity of transport vehicles, being used during transportation; chosen risks; liability limitation; Peculiarities of cargo to be transported, and so on.
Basic tariff is usually 0,2 – 2,5 %.




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Optional insurance types