INSURANCE FOR THE CIVIL & CONSTRUCTION INDUSTRY
Some dos and don’ts when managing a Contractor’s All Risk claim.
Contractor’s All Risk claim , our knowledge of the industry is our key advantage in achieving outstanding claims success. Building terminology is second nature to our team, which allows us to interpret policy wording and understand complex claim events while working with the insurers’ technical assessors to help secure the best possible claim result.
When should you notify us that an event has caused damage to the contract works?
You should contact us as soon as reasonably possible. We’ll provide immediate assistance.
Must you report losses that are less than your excess?
All losses should be reported as the final costing may exceed the initial claim estimate. There’s could also be the possibility of a liability claim attaching to the incident months, or even years later.
A passer-by was injured by an object falling from a workman’s platform. The injury is minor.
Must you report the incident to us?
A standard Contractor’s All Risk policy should cover your legal liability for third party bodily injury and property damage. We recommend that you report all events involving third party injury or property damage to us, even if the incident appears to be minor.
The injured passer-by submitted medical receipts to you with a demand for immediate payment. What should you do? Should you pay the passer-by and recover costs from us later?
You may ask the passr-by to send you a claim letter with his/her attached medical receipts and advise him/her that his/her claim will be sent to us for handling and that all further correspondence should be with us. We’ll then contact him/her regarding his/her claim. It’s important that the claimant’s letter includes his/her contact details, such as address and telephone number.
Your policy requires that you do not admit liability or offer any settlement without our prior consent. Do not pay the passer-by unless we have instructed you to do so.
What is consequential damage?
Typical examples of consequential damage include, among other things: loss of rent, damage to reputation, down or idle time, interest and finance charges, loss of use of goods, additional labour costs, material escalation costs, depreciation, rental costs, additional energy costs, loss of productivity and efficiency.
Will you be covered for consequential damage?
The short answer is no. Most insurers process claims on a case-by-case basis, assessing the merits of each incident. Typically, any delays caused by an event, including their resultant costs, won’t be covered. We recommend that you contact us to explain the situation so that we can advise you accordingly.
Is there a time limit for submitting claim documents?
Yes, there’s time limit for the submission of claims and associated documentation. We recommend that you submit all claim documents as soon as they become available. The earlier you submit the required documents, the sooner your claim will be handled and processed.
To properly process a claim, you should prepare a report and submit it to us. This report should include:
Your insurance policy number.
The date and time of the event.
The location of the construction project.
What the event was.
What the damage is
An estimate of the repair costs.
Mitigating actions that were taken, if applicable.
Photographs of the event and subsequent damage.
Details of any injuries.
The repairs implemented, or actions taken, to secure the facility and make it safe.
Names of witnesses if applicable.
Contact details of the person submitting the report.
The urgency of the response required from the insurer.
Police case numbers if relevant.
When you have a Contactor’s All Risk claim, we’ll be there to help, so please don’t hesitate to contact us or phone 080 777 7771 the moment you need help lodging a claim.
THE LEGAL STUFF
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