Home / Insurance solutions / Sectors / Construction and engineering
Construction and engineering insurance
Every project is a different risk, with its own contract, deadlines and guarantees. Contractors and engineering firms need a programme that responds on site and years afterwards.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises construction and engineering companies on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
We advise medium-sized and large contractors and engineering firms. We review the entire programme, including master policies covering all projects, or a specific policy for a single project or tender.
- Contractors and civil worksBuilding, civil works, infrastructure, refurbishment, building services, etc.
- Engineering and concessionsEngineering firms, site supervision, project management, concessions, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Damage during construction
Fire, weather events, theft or workmanship errors before handover.
How it is covered
Risk
Third-party damage
Damage to neighbouring properties, pedestrians or utilities affected by the works.
How it is covered
Risk
Structural defects
Liability during the ten years following acceptance of the works.
How it is covered
Risk
Professional errors
Errors in calculations, design or site supervision.
How it is covered
Risk
Guarantees
Bid and performance guarantees required by tenders and contracts.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- Contractors' and erection all risksDamage to the works during construction, including under annual policies.
- Decennial insuranceStructural damage during the ten years following acceptance of the works.
- General liabilityDamage to third parties caused by the business activity and premises.
- Professional indemnityClaims for errors or omissions in the services provided.
- Surety insuranceGuarantees to public authorities and clients, instead of a bank guarantee.
- Collective agreement accident coverThe accident benefits required under the collective bargaining agreement.
- Fleets and machineryVehicles and construction plant, on fleet terms.
- Environmental liabilityPrevention and remediation of environmental damage.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
Is decennial insurance compulsory?
The Spanish Building Act (Ley de Ordenación de la Edificación) requires it for residential building works. We arrange it for developers and contractors.
Can I insure all my projects under a single policy?
Yes. Annual construction policies can cover every project started during the year, on terms agreed in advance.
Can I replace a bank guarantee with surety insurance?
In many cases, yes. Surety insurance is accepted as a guarantee in public and private contracts and does not use up bank credit lines.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.