Technical Insurance
Insuring (complex) risks of dynamic construction processes
Whether you are a contractor, installer or client on a construction project. The risk of damage is always present. You can also be held liable for, for example, damage to adjacent buildings or injury to a casual passer-by as a result of the work. Thus, a Construction All Risk (CAR) insurance is crucial.
During the construction period, material damage due to external unforeseen circumstances, as well as design faults and faulty materials, for example, are covered for new construction, rebuilding and renovation. Subsequently, the maintenance period can be co-insured to cover material damage caused before the start of the this time, i.e. also due to design faults.
Why CAR insurance?
A project in the (construction) phase knows even more technical risks than a completed structure. Besides damage from fire, storms and other external calamities, there is a greater risk of theft or vandalism, for example, because a construction site is relatively easily accessible. There is more risk of rain or storm damage as long as the structure is not yet wind- and watertight as well. In addition, damage is often caused by mistakes made by the executing parties themselves, such as a construction, design or engineering error, or by a defect in a material. Moreover, construction activities such as pile driving, excavation and well drilling can cause damage in the surrounding area. All these risks can be covered by CAR insurance.
Who are insured under CAR insurance?
Both the client (companies, government or project developer) and the contractor can take out CAR insurance. The advantage is that all parties involved in the construction are co-insured, so that in the case of damage there is no need to discuss who is responsible for the damage. CAR insurance can be taken out for a specific project, but you can also choose to take out continuous CAR insurance. This is particularly practical for contractors or clients who deal with construction projects on a regular or even continuous basis.
What does the CAR insurance cover?
The CAR insurance provides comprehensive cover and consists of several sections, of which only section I (the work) is compulsory. The other sections can be chosen as required. This makes CAR insurance perfect for all relevant construction risks.
Section I; The work.
During the construction and maintenance period, the work is insured against material damage, loss and destruction.
Section II; Liability.
This section covers liability damages arising from construction activities on or near the construction site.
Section III; Client’s existing property.
Under this section, cover is provided for damage to existing buildings and property of the client, requiring only a connection with the construction activities. Overhead damage is also covered.
Section IV; Property of management and staff.
This section insures the personal property of people working on the construction site.
Section V; Tools, chains and sheds.
Under the section, tools, chains and sheds present on the construction site are insured. This cover is usually taken out only by and for the insured contractor.
What is the insurance term of CAR insurance?
Throughout the construction period, the construction project is insured. If the project extends, the insurance can be extended at an additional premium. After the construction period, the so-called maintenance period is co-insured for damage that is only discovered during the maintenance period and which cause lies before the maintenance period. Work carried out according to specifications during the maintenance period is still insured as well.
Why technical insurance through Meijers?
Are you aware of the risks that occur in construction work? At Meijers, we know that you put a lot of time, money and effort into realising your construction projects. To mitigate the business risks you face from the start of your construction project, we can assist you.
We have an experienced team of technical specialists who work closely with you to identify and better understand your needs and risks. Our approach is based on building strong relationships. By working with you, and your in-depth understanding of your business and requirements, we can find the technical insurance that fits your risks and needs.
More information?
Would you like more information on the CAR insurance or other technical insurances? If so, please contact one of our specialists Theo Groefsema, Jurgen Bronchel or Rutger Cosijnse.
Theo Groefsema, Senior Accountspecialist
Having worked as a loss adjuster for 12 years, I have gained extensive experience in fire, (professional) liability, construction claims and CAR (Construction All Risk). This period has given me a deep understanding of risks in different industries. In 2006, I decided to take my career in a new direction and switched to underwriting, specifically as an underwriter of CAR insurance with insurers. Since June 2023, I have been working as a CAR insurance underwriter at Meijers. This role allows me to make the best use of my extensive knowledge and experience. This allows me to provide our clients with the best possible coverage and advice. The insurance industry is constantly evolving and I see a future where, through innovation and customisation, we can protect our customers even better against unforeseen circumstances.
At Meijers, we strive to proactively respond to changing needs and risks so that our clients can always count on the best coverage. Clients choose Meijers because of our short lines of communication and our ability to provide tailor-made solutions. We have a personal approach. This enables us to respond quickly and effectively to their questions and needs, providing them with excellent service. At Meijers, we constantly strive to deliver on our promises and give our customers the best possible service. With my background and dedication, I am confident that together we will achieve great success.
Jurgen Bronchel, Senior Accountspecialist
I am a true specialist. Have been working in technical insurance for 35 years, which is really my thing. Especially insuring construction work in all its facets. This can be on an expiring and ongoing basis. Technical insurance also includes insuring machinery/installations, solar panels, soil decontamination, etc.
I am energised by customers, by solutions, by mediation. No two construction projects are the same and therefore require tailor-made solutions for our clients. It's about really being there for the customer. That is our job. In large or difficult projects, I always put insurer and client together. That creates understanding and solutions.
