Construction Insurance or Contract Works Insurance policy includes cover for property damage and legal liability and covers contractors and subcontractors from accidental physical loss during construction project or damage to the building project during the construction period.
Builders may face legal action if there are problems with the structure, regardless of whether you are to blame for the problem. That is why (PI) Professional Indemnity Insurance is essential, as it ensures that your company is covered for any actual risk or alleged design liability.
The process of identifying construction risk and determining how and to what extent it should be shared is known as risk allocation. Most owners understand that risk is an inevitable component of the construction process.
Indemnification for liability arising from a structural defect in completed commercial building projects.
Workers compensation is a type of insurance that pays employees if they are injured at work or become ill as a result of their job or defective work culture.