Project Insurance

Project Insurance

Any major project activity like construction of Civil Engineering projects, Erection of machinery involves risks in transpiration of machinery from the machinery manufacturer to the project site, risks in storage of material at the project site, risks during civil construction activity and machinery installation work, testing of the machinery, and during the visit to the project site by the contractors as part of maintenance contract, will have the risks at each stage.

Also there is risk to contractors, employees working in the project site, to the surrounding property in the project site, the third part property near the project site and liability exposure to the third parties visiting site or living nearby because of the activities in the project site is there.

In addition if there is delay in the project completion from schedule timelines, because of the delay in the equipment arrival at the project sit or because of any unforeseen event at the project site during the erection and test activities the project implementation may be delayed. This will result in financial loss to the promoters. Such risk can be covered by the DSU and the Advance Loss of profit policies.

The risks in different projects like power plant, metro project, pipe line lying, are different.

Experts in SmartTech are familiar with such exposures and will be able provide unique insurance solution for each of the project.