Engineering and Construction projects are complex projects that connect investors, creditors and contractors with contractual obligations.
IBS Construction Team provides services to all stakeholders of the sector, by means of its international competence and experience in different geographies, in both engineering and construction projects, as the team identify risks, analyse and transfer them through insurance together with taking the costs into consideration.
WHY IBS ?
Long Term Business Relationships
OUR INSURANCE COVERAGE
Contractors’ (All Risk) Insurance
Contractors’ (All Risk) Insurance offers major assurance for contractors. Constractors’ (All Risk) Insurance covers a wide range of risks that may be caused by nature, technical and human factors during the period from the unloading of construction materials to the construction site and the start of use of the facility. In addition, in return for the insured’s request and additional payment of premium;
· · All machinery, tools and equipment used at the construction site,
· Temporary barracks and auxiliary structures,
· Third party liability compensation assurance,
· Debris removal costs,
· The maintenance period starting after the provisional approval,
· Strikes, lockouts, riots, public movements and terrorism can be included in the insurance coverage.
Assembly (All Risks) Insurance
Electronic Device Insurance
Machine Breakdown Insurance
CPM (Construction Machinery Insurance)
CPE (Construction & Equipment)
CMI (Comprehensive Machinery Insurance)
CECR (Civil Engineering Completed Risks)
- Fire, lightning, explosion
- Collision of aircraft and parts falling from the aircraft
- Earthquake, volcanic movements, tsunami
- Storm over 8 Beaufort
- Flood and inundation
- Collapse, landslide, rock slide and other ground motions
- Frost, avalanche, icing
- Vandalistic actions
CPI (Comprehensive Project Insurance)
ALOP (Advanced Loss of Profit)
As a result of natural disasters or occurrence of risks that are related to the construction, the construction operations may not be completed on the planned date, and as a result, businesses may face serious financial difficulties.
With this policy, profit losses that occur due to the failure of completion of the construction on the planned date are covered by the Construction Insurance.
DSU (Delay in Start Up)
MLOP (Machinery Loss of Profit)