Insurance solutions for construction and erection projects

Transcription

1 Aon Risk Solutions Construction Insurance solutions for construction and erection projects Comprehensive cover for your complex construction projects. Risk. Reinsurance. Human Resources.

2 Safeguarding your projects: we've got it all covered As a construction principal, investor or real-estate developer, you will be aware that every construction and erection project is subject to extreme time and cost pressures. Above all, however, you will be aware of the impact of unexpected damage. Such losses can disrupt the construction schedule while unforeseeable costs can render estimates invalid. Here at Aon, we know all about these risks thanks to our extensive knowledge of all types of construction and erection projects, large or small. What risks are involved? What insurance solutions are available to cover them? And how can you speed up the often time-consuming process of settling claims involving multiple insurers and their adjusters? How can you make sure all those involved in the project are adequately covered and that you are not taking an incalculable risk? Important questions which our hands-on experts will help you tackle. Based on our Aon Construct project insurance concept, we will put together a comprehensive, unified insurance solution that offers you the right combination of liability, contractors all risks and erection all risks insurance cover.

3 Aon Construct: our combined project insurance the advantages for you In order to cover complex construction and erection projects, you need not just a legal and commercial background but also, crucially, expertise in construction. We combine all this know-how for you in Aon Construct: a unique combination of liability, contractors all risks and erection all risks insurance that offers you attractive advantages. Insurance cover individually tailored to your project Bespoke cover against the risks that affect you. Scope of insurance based on your requirements All parties involved in the project are covered. Unified and comprehensive insurance structure No disputes between insured parties. No time lost checking the insurance paperwork of each individual contractor You control the insurance concept. You can usually allocate the premium costs to the contractors involved As construction principal, investor and real-estate developer, you should not normally incur any insurance costs. Potential delays in case of damage are significantly reduced As Aon manages the claim s settlement, only one insurer and one loss adjuster appointed by us will assess the damage. In the event of a loss, just one point of contact for all parties involved Short communication paths and fast settlement personal, local service. Benefits Liability Insurance The negotiated liability limit applies exclusively to the insured construction project Insurance cover also for claims caused by contractors doing their own planning and implementation Unlimited retroactive cover for planning services Warranty and finishing works are also covered Contractors and Erection All Risks Insurance Coverage is granted until the formal acceptance and handover of the construction work 24-month extended maintenance after the acceptance date is included Additional cost to accelerate construction and regain lost time in case of property damage is compensated Theft is covered Optional: coverage for loss of profits If you wish, you can also take out cover against delay or hindrance to the completion and use of your project as a result of one or more insured events relating to construction or erection.

4 Cover from the very start - reliable in every detail Our specialists (civil engineers, lawyers, business experts, insurance specialists, etc.) provide support from the early planning phases of your project. We analyse the key planning documents, assess the risks and present your project together with all the relevant data to the appropriate insurers. So not only do you end up with bespoke insurance cover with no gaps or loopholes matching your actual risks and the risks of the project, you also receive a sound plan for the allocation of costs the cost between all those involved in the project. Liability Insurance This covers both construction and planning risks, as well as environmental damage. All third-party liability claims against any party involved in the project (principal, contractors, subcontractors, designers/architects, consortia, etc.) are covered. This also applies to liability claims between insureds. Contractors and Erection All Risks Insurance Contractors and Erection All Risks Insurance covers you against the consequences of unforeseen losses such as fire, water damage, vandalism and theft of stored materials. Erection All Risks Insurance also covers damage to the installation equipment and damage during operating tests. Optional: Coverage for loss of profits Even where Contractors or Erection All Risks losses are covered, you can often still incur loss of profits due to delayed completion or costs of accelerating construction. If you wish, you can insure against these risks by covering against the loss of profits. This way, you can secure the financing of your project despite such losses or costs. Transport insurance You can also insure the transportation of building materials, machinery, plant and equipment, including installation equipment, to the construction site. Your dilemma: Multiple construction projects Your aim: To save paperwork Our solution: The master policy An annual Aon Construct policy represents an attractive solution if you are involved in construction activities on a regular basis. Based on your annual investments in construction, we will put together a bespoke plan covering all your construction projects. The Aon Construct master policy means: You can focus on your core business No more time-consuming, individual negotiations with insurers for every single project Savings in time and cost Fixed insurance premium for easier, more predictable financial planning

5 Got big plans? We're by your side, every step of the way. From the idea to the realisation and in the case of claims we are there for you. A promise we will keep, also for international projects. Planning Phase Risk evaluation based on the key planning documents Developing a bespoke insurance concept Briefing the insurers on the project Managing the tendering process Construction Phase Providing an individual service Handling all communication with the insurers Risk management, including on the construction site Active adjustment and documentation of the cover in case of changes to the project In the Event of a Loss Aon acts as single point of contact for all issues Coordinating claims management for all involved in the project Managing adjusters Controlling claims A selection of previous projects Paulaner Brewery, Munich The Fontenay, Hamburg ALEXA, Berlin The Icon, Vienna Infineon, Munich HELIOS Hospital Group, Krefeld

6 About Aon Aon is the leading global provider of risk management, insurance and reinsurance brokerage and human resources solutions. Our work is based on a comprehensive understanding of risk, opportunity and potential. Our expertise encompasses the unique needs of all regions, markets, sectors and target groups. We aim to offer you customised solutions based on in-depth analysis, so you always achieve your goals. We have more than 66,000 skilled employees dedicated to achieving this aim in over 120 countries, 1,700 of them based at eight locations in Germany. Aon Risk Solutions Construction Kleiner Schloßplatz Stuttgart construction@aon.de aon.de Aon Risk Solutions is a division of Aon Versicherungsmakler Deutschland GmbH Registered office: Hamburg Commercial register number: Hamburg HRB Caffamacherreihe Hamburg Registered insurance broker in accordance with 34d (1) Intermediaries register number (German Industrial Code/Gewerbeordnung): D-9F23_QP4LO Risk. Reinsurance. Human Resources.