Designing Buildings (DB) – the Construction Wiki – has summarised insurance issues around individuals and firms engaging in building design and construction.
…. It is for each individual or party to decide upon insurance policies…
DBW writes:
Insurance provides third-party protection against risks. Risks on construction projects can be significant, and so insurance is very common, providing protection both for the insured, and for the party to whom the insured has a liability. It is for each individual or party to decide upon insurance policies that are appropriate for their circumstances. It is very expensive to over-insure and it could be very expensive to under-insure in the event that a claim is made. For this reason, expert guidance is advisable.
The following headings are addressed:
- Collateral warranty
- Contractors all-risks insurance/contract works insurance
- Directors and officers insurance
- Employers’ liability insurance
- Flood insurance
- Integrated project insurance
- Latent defects insurance
- Legal expenses insurance
- Legal indemnity insurance
- Office combined/contents/buildings insurance
- Performance bond
- Professional indemnity insurance
- Public liability insurance
- Residual value insurance
- Terrorism insurance
- Other types of insurance
