Experience:
The construction investment process involves many distinctive insurance products, such as construction and assembly risk insurance, contractor’s civil liability insurance, construction equipment insurance or, finally, insurance guarantees. The biggest challenge for a broker is to plan and combine insurance products in such a way that the investment insurance scheme is as tight as possible (ensuring the possibility of maintaining the continuity of the project without unnecessary downtime), covers all participants in the work, is financially optimal and does not lead to unnecessary duplication of the same insurance at different stages of the investment.
Nord Partner provides its Clients with comprehensive solutions for designing insurance contract terms, uses its negotiating capacity to obtain insurance coverage even with complicated investments or non-standard investor expectations, e.g. with regard to insurance guarantees. Provides tools to plan and manage guarantee limits and conducts a full loss adjustment process
We provide services for i.a.:
- Capital groups implementing key construction projects in the country;
- Construction sector companies;
- Developers;
- Investors planning construction contracts;
- Contract Engineers;
- Persons performing independent functions in construction.
Examples of implementation:
- Preparation and operation of the construction of power units for supercritical parameters;
- Implementation of shopping mall insurance schemes;
- Design of contractual provisions concerning insurance requirements
in the scope of construction of public use buildings by local government, together with a traffic network in an investment worth several hundred million zlotys; - Design of contractual provisions for civil liability and CAR/EAR risks
for the construction of new power units in the power plants operated; - Negotiating and implementing a complex insurance programme and a guarantee triggering system during the investment consisting in rebuilding the terminal at one of the larger national airports;
- Design of insurance provisions and implementation of the insurance scheme for the construction of a new road bridge along with the traffic network over one of the main rivers in the country;
- Design and implementation of risk programmes for construction and assembly during construction of football stadiums with an auditorium for more than 20,000 people;
- Implementation of the process of securing against risks related to the construction of strategic elements of flood protection on rivers with a significant risk of flooding.