Sole traders or larger businesses involved in the construction industry take on many contractual obligations and legal liabilities in the course of their day to day operations.
It is important that they take out appropriate insurance to ensure that they are adequately protected against actions which could arise in the event of their negligence in carrying out their work.
We can arrange flexible insurance policies which can be tailored to reflect the specific requirements necessitated by individual contracts or projects.
Whether you are a Main-Contractor, Sub-Contractor or Developer, we can provide the advice and expertise to put in place a suitable insurance package to protect your business.
Typical covers required by Contractors and Allied Trades include:
- Employers Liability
Cover for your legal ability for injury sustained by your employees in the course of your business and indemnity to the principals for whom you are working in like manner in respect of the principal’s liability arising from the performance of the contract. In the UK Employers Liability is a compulsory requirement. Typical limits are €13 million or £10 million.
- Public Liability / Products Liability
Covers for legal liability for bodily injury to third parties or third party property and indemnity to the principals for whom you are working in like manner in respect of the principal’s liability arising from the performance of the contract.Protection should also be provided against legal liabilities imposed on you under the two most widely used forms of construction contract i.e. RIAI and GDLA.
- Contractors All Risks Insurance (also known as Contract Works Insurance)
Property damage cover for contract works (e.g. new building), own plant, hired-in plant and employee’s tools.
- Contract / Performance Bonds or Roads & Services Bonds
A bond is an independent guarantee whereby another party (or guarantor) undertakes to pay the direct loss suffered by the principal / employer as a result of a breach of contractual or legal obligations by a contractor.
- Engineering Insurance
Statutory Inspection and property damage cover on specialist items including pressure plant, electrical or lifting plant.