High-risk construction liability insurance
10 March 2015
High-risk construction liability insurance is an essential consideration for building contractors and professional trades working in remote, challenging or hostile regions around the world. As well as providing vital protection for you and your business, securing construction liability cover is frequently a key component in fulfilling contractual obligations.
However finding cover of the right type and level can prove challenging, not to mention expensive, with premiums often being quoted in the £1000s. We recently covered one building contractor for as little as £300.
Construction liability insurance in Azerbaijan
One of our clients recently approached us to provide high-risk construction liability insurance for him as a project manager on an office installation contract in Azerbaijan. Contractually he was obliged to have Professional Indemnity and Public Liability insurance, but, due to the unusual location of his work, he was finding the pool of quality providers very small, and the premiums quoted unaffordable.
The problem sprang from the fact that his situation was deemed too high a risk for standard policies. He needed a bespoke policy that took into account the specific requirements of the job, his contractual obligations and the potential risks to his team, working in a remote country like Azerbaijan.
We are specialists in providing high-risk liability cover to those working in the world’s most challenging regions and industries. Years of experience mean that we understand the complex and differing nature of regional liability insurance requirements.
Emergency evacuation and repatriation too
Using our status as Lloyd’s Coverholders, we were able to create high-risk construction liability insurance for our client at a price he could afford. We also sourced a range of other competitively-priced cover, including global medical insurance with provision for emergency evacuation and repatriation. He was able to begin work in Azerbaijan, on time and within budget, secure in the knowledge that his workers and his liabilities were properly covered.
You can learn more about our high-risk construction insurance here or call our team on +44 (0) 207 305 5650.