National Joint Stock Insurance Company "Oranta" performs insurance of property interests, connected with possession, usage and disposal of property by carrying out construction and erection and other works while erecting construction and/or assembly projects.
Insurance of construction and erection and other works while erecting construction projects is performed against the following risks:
fire (conflagration, explosion, lightning stroke, falling on insured property of piloted aircrafts, their parts or any cargo transported by them);
acts of Nature (storm, whirlwind, hurricane, gale, hail, rain showers, snow cover pressure, flood, earthquake, rock falls and avalanching, and other natural disasters);
illegal actions of third parties (theft, robbery, brigandage, intentional destruction or damage of property, including arson);
accidents (industrial accidents when performing construction and erection works, including accidents in engineering systems (in water supply, sewerage, heat supply), affect of electrical energy in the form of short circuit, electric arc, voltage overload of current network, increased and decreased pressure in units and mechanisms of equipment, damages caused a result of actions of centrifugal force, damage by any parts that crumble or fall, damages by construction site engines which fall (overturn), etc);
runover, collision of land vehicles with their further destruction, damage of insured property.
For insurance are accepted:
construction works, namely: a construction project (building materials, constructions, etc.), expenses for construction;
erection works, including projects which are mounted, expenses for erection, as well as materials, equipment and services that are provided by customer;
equipment in the construction site (temporary and auxiliary houses and buildings, storage facilities, scaffolding, engineering services, etc.);
objects which are on the construction site or in the directly nearness to the site that belong to a customer or contractor;
construction machines and equipment.
Sum insured is established taking into consideration the full project (estimated) cost of construction and erection works, actual cost of objects that are on the construction site, construction machines, etc.
Insurance tariff depends upon the object of insurance, chosen risks, insurance term, other factors and is within 0,15-1,5% of the Sum insured.
