Construction and assembly insurance
During construction of a house or building or extension or restoration works there are certain risks that can be transferred to the insurance market, both for material damage caused to the works, or for obligations to answer to third parties for motives of the building work.
Types of building insurance
All risk building and/or assembly
Directed at promoters and/or constructors of buildings, or factory assembly companies to mitigate the effects of an unforeseen and accidental event.
Building and/or assembly liability
Covers liability arising from the consequences of damage caused involuntarily to third parties during the execution of construction of buildings or the assembly of factories.
Construction guarantee insurance
The objective of a construction guarantee insurance policy for damages is to cover the 10-year period obligation laid down by the Building Law (LOE in Spain) for promoters/constructors of the building. Read more
BOND INSURANCE
A bond insurance policy for advance payments in construction guarantees the developer or client the reimbursement of advance payments made to the contractor in the event of a breach of contract. It protects the investment made before the project is completed.
In construction projects, this type of policy is mandatory under current regulations, ensuring that advance payments are protected and providing financial security for both the developer and the contractor.
Services
It is fundamental resolve any mishap that could occur during the building or assembly process with agility and efficiency. At Oller Brokers we understand this and resolve adverse events with maximum efficiency to not delay the project or incur additional costs.