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Construction & Design

Industry-Specific Knowledge Insurance Solutions Recommended

Industry-Specific Knowledge

The Construction and Design industry is a complex and dynamic sector, with numerous stakeholders, risks, and challenges. It requires a high level of expertise, attention to detail, and effective communication to ensure successful project outcomes. Our team at IIB has extensive knowledge of the industry's nuances, including:

- Building types and sizes
- Construction methods and materials
- Design and engineering processes
- Project management and scheduling
- Budgeting and cost control
- Risk assessment and mitigation strategies

IIB has a deep understanding of the Construction and Design industry. We know that the success of your projects depends on the careful planning, execution, and management of every aspect, from design to construction. Our expertise in this sector allows us to provide tailored insurance solutions that meet the unique needs of your business.

Insurance Solutions Recommended

Construction/Erection/Contractor’s All Risks (CAR)

The basic concept is to offer comprehensive and adequate protection against loss or damage in respect of the contract works

Third Party Liability (TPL)

Third Party Liability insurance is typically purchased in conjunction with a CAR insurance policy.

Cargo Insurance (CI)

Covers the risk of loss or damage to goods during transit, storage, or warehousing. It provides financial protection against theft, fire, water damage, and other perils.

Environmental Impairment Liability (EIL)

Environment Impairment Liability (EIL) insurance provides coverage for damages or losses resulting from environmental pollution or contamination

Terrorism & Sabotage insurance (TER)

This Insurance insures property against physical loss or damage & business interruption caused by an Act of Terrorism

Political Risks Insurance

Covers against political risks such as expropriation, confiscation, or nationalization of assets. Coverage extends to compensation for losses resulting from political instability or government actions.

Workers Compensation Insurance (WCI)

This is the most basic layer in the employee benefit tower. It mostly covers for the accidents related to work.

Directors and Officers Liability Insurance (D&O)

Covers individual Director against E&O and wrongful acts claims, either alleged or actual, arising from their civil liability under the duties of a director, manager or supervisor

Delay in Start-up (DSU)

DSU insures project owners for the financial consequences (as described in the policy) of a delay to project completion arising from an insured physical damage event.

Professional Indemnity (PI)

PI policy consists of an insurance against “a breach of professional duty owed to another party”.

Contractors’ Plant & Equipment (CPM)

This is an insurance of contractors’ plant and machinery on an annual basis.

Surety

Provides insurance coverage for bond obligations and guarantees issued by companies. Coverage extends to contract performance bonds, bid bonds, and other related guarantees.

Motor Vehicle Liability

Covers against claims for damages or injuries caused to third parties in the event of an automobile accident. Coverage extends to bodily injury, property damage, and consequential losses.

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