Individual insurance solutions for all aspects of the construction and trades sectorCorporate insurance concepts for the industry

The demands imposed on your company have become considerably more complex in recent years. It is not just the principle who may file a claim against you. Due to changes in the statutory boundary conditions and social developments, today a tradesman’s business must also deal with questions relating to the General Data Protection Regulation and the Strengthening of Occupational Pensions Act.

Today the risk management of your company means more than just maintaining an adequate sum insured in your business liability insurance for active contributory loss.

It has become necessary to undertake a holistic consideration of all major and incidental operational risks. Here in some circumstances it may be necessary to establish liability management, to organise fleet management, keep all insurance products up to date and in addition still be operationally active.

The challenges on the market

The activities of a company in the main construction trades/ancillary construction trades regularly give rise to various liability risks. At the business site, this can be personal injury or fire damage with a third-party claim. Planning gives rise to construction supervision with all attendant eventualities, and extends to claims for compensation on the part of the employers liability insurance association.

Of course, working on third-party property always entails a high potential for liability, regardless of the trade. The awarding of services to subcontractors or external service providers must be critically monitored on a regular basis. Such awarding constitutes a “pre-determined breaking point” in the liability management of your company.
The environmental risks range from simple storage of environmentally hazardous substances, to the company filling station, wheel washing system or paint booth and extends to the mobile crushing unit or asphalt mixing plant.

Your product may also give rise to compensation claims that have nothing to do with the warranty – they may be substantiated in costs for removal and installation of a defective product. The complexity of functioning liability management can be derived from these few examples alone.

Another central question: How does management protect itself against personal liability following an incident involving misconduct? For construction companies and tradesman’s companies there is an increased risk of claims being filed against the management bodies. Here the potential ranges from occupational accidents due to breach of supervisory obligation, a credit check not carried out properly, incorrectly acquired insurance cover and it extends to imminent insolvency, etc.

We can identify solutions that can protect you against loss of market share. Also the increasing frequency of catastrophic natural disasters considerably boosts the potential of a loss occurrence, and should be included in your considerations.

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Risks in the area of first-party loss / technical insurance

Technical insurance: Construction all-risks insurance for building construction and civil engineering is an essential component of risk management, since first-party loss in involved here: The road that was flooded after heavy rain and has not yet been accepted, theft of materials that had already been installed, or the structural shell damaged by an avalanche of mud, all result in an impairment of earnings.

In the area of machinery insurance, mobile construction machinery is subject not only to the risk of theft/vandalism, but also to the risk of flood and silting up. Construction machinery is often rented temporarily in a consortium or for a construction project and should also be covered by an insurance contract for this period. Attachments, such as excavator buckets, are not regularly included in the insurance cover, however they are subject to an increased risk of theft.

For the stationary machines of a tradesman’s business, machine breakage is of major importance, as is the risk of business disruption.

As a rule, construction companies operate a large vehicle fleet. This is where numerous types of damage regularly occur, from shunting damage to brake damage, breakage, operational damage, damage when container skips are set down, etc. We organise risk management, including driver training and workshop control, in order to minimise the sometimes extreme claims expenses. Thus the insurability of the vehicle fleet is also guaranteed for the future.

Solution approaches

For a holistic solution, we offer our “360-degree view”.

Your advantage is our in-depth analysis of your existing insurance programme, combined with a detailed analysis of your actual risk factors.

In addition, our own technical departments are in constant contact with the risk carriers. This enables an ongoing professional exchange and the necessary negotiations, which are conducted on an equal footing.

We would be pleased to prepare an individual profile for you. Put us to the test!

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