CONSTRUCTION WORKS
DESCRIPTION
AIM OF THE INSURANCE:
Construction is quite a risky process, and insurance is the most effective risk management system, which compensated damages caused to objects as a result of negative events. Insurance at a relatively low cost allows for the reimbursement of possible major losses.
INGO ARMENIA has been insuring the largest construction projects in Armenia for more than 20 years. We cover most of our foreign direct investment projects.
INGO ARMENIA’s experience includes major road, bridge construction projects, mine, plant, HPP (Hydro Power Plant) and TPP (Thermal Power Plant) construction risk insurance, World Bank funded projects, and more.
International recognition and trust allows us to provide you with the best insurance coverage.
WHAT CAN BE INSURED?
- Unfinished construction facilities;
- Assemblies;
- Property on the construction site which belongs to the contractor, customer or developer, including buildings, in the process of reconstruction;
- Construction equipment;
- Temporary structures and other construction equipment;
- Materials that are stored outside the construction site.
WHAT RISKS CAN BE INSURED?
One of the specialties of CAR insurance in “INGO ARMENIA” is insurance of specific technical risks in addition to standard ones.
Standard risks: fire, explosion, lighting strike, fall of flying objects, natural disasters, illegal actions of third parties.
Technical risks: errors during construction and mounting, accidents of engineering lines, subsidence, collapse or damage to constructing objects, designer’s risk.
You may insure building and assembly works both against each of the listed risks and against all of them in a package “all risks”.
SUM INSURED IS EQUAL:
- to the amount of project value – for construction and incomplete construction objects;
- to the amount of real value – for engineering machinery, equipment of construction site, buildings and constructions that are situated in the building site.
INSURANCE FEATURES OF “INGO ARMENIA” ICJSC:
“INGO ARMENIA” ICJSC offers insurance of risks on all stages of activity of construction and assembly organization: starting from unloading of materials on the building site up to completion of period of after launch warranties.
Our company has developed complex CAR insurance policies, which provide maximal insurance coverage for the clients. The rules correspond to all existing international standards.
EXTENDED COVERAGE:
In complex with CAR insurance You may insure the third party civil liability of the contractor. In this case “INGO ARMENIA” ICJSC bears all expenses of compensation of damages caused to life, health and property of third parties.
Thus “INGO ARMENIA” offers its clients maximum insurance protection.
HOW MUCH DOES A CAR POLICY COST?
You may receive fast insurance premium calculation by filling in the application form and sending it to the following e-mail address: info@ingoarmenia.am
