According to the specifics of building, reconstruction and rehabilitation works it is priority for the building companies to manage risk factors. In this respect, engineering risks insurance is one of the most efficient ways to avoid unforeseen financial losses, occurred in the aforementioned sphere.

According to the specifics of construction sphere, engireering risks insurance “All Risks Policy” implicates:
Section I - Building process insurance
Section II - Machine and equipment insurance
Section III - Third party liability insurance
Section IV - Employee`s personal accident insurance

Section I – in case of building process objects of insurance are:
 Building object
 Building material, located at building site
 Auxiliary constructions, buildings
 Store houses
 Engineering systems
 Networks and any kind of property, necessary for building process at construction site

Insurance covers financial loss, caused by:
 Destruction or partial damage of building objects
 Damage or destruction of building material and property necessary for building process
 Expences caused by cleaning of construction site

Insurance risks implicate:
 Fire, explosion, thunder, fall of airplane or subjects inside it
 Damage by water, injure of waste system operation
 Element incidents: earthquake, storm, hail, landslide, avalanche, heavy snow, fall of rocks
 Rob, maraud, Vandal, illegal actions of third parties
 Weakening, vibrating of carrier elements
 Damage, caused by defective material

The amount of insurance sum is determined in accordance with the whole project value, including cost of building materials.

Section II - Machinery insurance
Insurance objects are all machine-equipments located at the building site, necessary for construction process, except cars, such as: turbines, generators, compressors, transformers and other similar equipments.
Insurance covers financial losses, caused by destruction or partial damage of machine-equipments at the construction site.
Insurance sum is determined according to the alternate value of insured machine-equipment, including transportation expenses and custom fees.

Section III - Third party liability insurance
In the construction process, there is risk to cause unintentional damage to the third party`s property or health, which may result in huge financial losses. Insurance covers compensational expenses, related to:
hird party`s body damage or death, during the construction process
Third party`s property destruction or damage, during the construction process
Amount of insurance limit and sublimit is determined according to insured`s preference.

Section IV – Employers` Accident insurance
Building site is a high-risk area, not only for the construction unit and the machine - equipment, but also for people who are hired directly to participate in the construction process. Injuries and accidents are frequent cases such as:
 Death;
 Disability;
 Bodily injuries.

Construction Risks "all-risk insurance" policy provides substantial compensation in such cases for employed person or his legal successor. The amount of compensation is determined by the insured orgamization before the contract signature.

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