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Corporate Construction Insurance | Nairi Insurance

Construction and Assembling Operations Insurance

Construction and Erection Works Insurance

corporate

CONSTRUCTION AND ERECTION WORKS INSURANCE Construction is a high-risk sector. Make your risks manageable.

Damage during construction and erection works is unavoidable if you haven’t planned for it in advance.

WHAT IS COVERED?

Under a construction and erection works insurance policy, you can insure:

Construction and erection property
Insured’s liability towards third parties
Insured’s employees against accidents during construction and erection works

Insured’s employees against accidents during construction and erection works

Post-completion warranty obligations

WHAT IS CONSTRUCTION AND ERECTION WORKS INSURANCE?

Construction and erection works insurance includes the following three main components:

Insurance of materials and property (including machinery and equipment) used during construction and erection works,
Insurance against damages caused to third parties during construction and erection works,
Insurance of the contractor’s employees against accidents occurring during construction and erection works.

WHAT TYPES OF RISKS ARE COVERED?

Insurance can be arranged specifically against the following risks:

Fire, explosion, lightning strike, falling aircraft
Natural disasters
Ground subsidence
Flooding by groundwater
Malicious acts by third parties targeting insured property, including theft, burglary, and robbery by forced entry
Accidents in utility systems (water supply, heating, sewage)
Erection errors
Collapse or damage to the structure
Any other sudden and unforeseen events occurring at the construction site

WHERE CAN YOU PURCHASE THE POLICY?

From the head office of Nairi Insurance
From Nairi Insurance branches and agency offices
From Nairi Insurance agents
By calling the 24/7 hotline (010) 50 00 10
Online

WHAT DOCUMENTS ARE REQUIRED TO SIGN THE CONTRACT?

State registration certificate
Tax ID (TIN), bank account details
Information about business activities

Depending on circumstances, additional documents and information may be required.

In accordance with the Republic of Armenia Law “On Combating Money Laundering and Terrorist Financing,” the Company may request additional documents or information from the client based on the “Know Your Customer” (KYC) principle, as well as ask additional questions during verbal communication, for the purpose of proper client due diligence.

The type, class, and/or subclass of insurance, the procedure and conditions for renewal or amendment of the insurance contract, the terms, conditions, and fees for providing duplicates of the insurance contract, certificates, and other information during the term of the policy, as well as the cases and conditions for early termination and cancellation of the insurance contract, including the amount and calculation method of the insurance premium refundable to the insured, are specified in the Terms attached below.

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