Protecting all types of business in the construction industry
We specialise in creating comprehensive and cost effective insurance protection for property and construction businesses of all types and size.
Contractors All Risks
Public and Products Liability
- accidental death or personal injury to any person excluding employees
- accidental loss or damage to third party material damage
A performance bond is a financial tool used to guarantee that in the event of a developer or contractor’s default, funds are available to finish the construction or other project. This is usually required where the insolvency of a contractor during the period of the contract will most likely result in delayed project completion and additional expenses for an alternative contractor to finish the work.
The Joint Contracts Tribunal (J.C.T.) Standard Form of Building Contract is in everyday use in the construction industry. Its provisions are extensive and include a number of clauses requiring insurance protection to be effected.
21.2.1 insurance protects the Employer in respect of any expense, liability, loss, claim or proceedings which they may incur or sustain by reason of injury or damage to any property other than the Works and Site Materials caused by collapse, subsidence, heave, vibration, weakening or removal of support or lowering of ground water arising out of or in the course of or by reason of the carrying out of the Works excepting injury or damage.
To discuss your individual business requirements contact either Mark Tomkinson or John Paul Allcock. Alternatively please use our online enquiry form.