Construction Risks Division

The Assiteca Group, thanks to the experience accrued in all major industrial sectors, is able to conduct an accurate risk analysis, and therefore to define the Risk Management policies most suitable to each company.

In particular, for the construction sector, Assiteca is able to assist all those involved in a construction project (customer, contractor, designer and site engineer, subcontractors, fitters, etc.) starting from the tender, and throughout the engineering, building, testing and maintenance stages to all the steps after the construction is completed.

The analysis is aimed at identifying the best insurance solutions to protect the Customers’ assets and their liabilities against any risk during one of the three typical phases of a construction project:

Engineering and Contract:

  • Damage to third parties and the works to be built, due to engineering, calculation, control and consultancy mistakes, including capital losses (Professional Third Party Liability policy);
  • losses incurred due to the failure to execute the contract and to properly realize the works, the improper functioning of the works and any defect identified during the final test (sureties, including that for the protection of pecuniary rights of the purchasers of real estate to be built – Law 210/2004)

Construction:

  • Damage to works being built (natural and accidental events, human errors, etc.), to pre-existing works and to site equipments, from the start of works to final delivery. Damage during testing and the maintenance period (CAR policy)
  • Liability of the company deriving from its obligations to third parties or own staff or other workers, during the activity performance
  • Damage caused to third parties due to defects identified in the manufactured products after their delivery (prefabricated structures, fixtures, movable walls, etc.) (product third party liability insurance)
  • Damaged incurred and caused during the transportation of materials, site machines and equipments, including theft and robbery and failure to deliver (Transport policy)
  • Damage to the built work and to third parties due to (partial or total) collapse or serious defects, up to 10 years from the completion of the work (decennial post-construction indemnity policy, Law 210, or decennial post-construction compensatory  as per “Merloni Law” or Leg. Decree 122/05)

Operation:

  • Damage to the works related to risks deriving from the operation and use of the works (fire, natural and catastrophic events, etc.) and anything contained in them.
  • Damages deriving from the ownership and use of many vehicles (cars, trucks, site vehicles, etc.) in various cases with specific issues, like special transport and others.

Assiteca, having worked with many construction workers’ funds, is also able to mange with the highest professionalism any issue arising from Consortia and Temporary Associations on Enterprises.

Assiteca also assists the various financing entities in the risk analysis and the search for insurance solutions in Project Financing operations.