Project Specific Cover

Arranged either on behalf of the Contractor or the Owner/Developer (Employer), a Contractor will often be able to utilise their existing annual insurance policies, though the absence of such a policy or a high valued contract or project, may be better serviced by a separate stand-alone policy.

Owner/Developer (Employer) incepting such covers retain control and tailor insurance requirements to suit their needs/requirements and not just those of the Contractor.

Owner/Developer (Employer) undertaking major refurbishments to their existing property portfolio will often be responsible contractually for both their existing structure and contract works. A key feature for Owner/Developer is that a Project controlled arrangement can include their existing structure whilst being worked upon on an ‘All Risks’ basis.

Project Insurance policies incorporate cover for Public Liability, Contract Works, Terrorism and Non Negligence Liability.  A policy initiated by the Owner/Developer has options to extend to additional financial exposures as a consequence of delays in completing the project caused by a peril insured under the Works. These can include (ALOP) Advanced Loss of Profits or DSU (Delay in Start Up) based upon gross revenue.  Latent Defects provides the Owner/Developer or Financiers with protection against claims for damage, defective work or materials which may only become apparent after the completion of the Project.

The majority of annual construction insurance policies incorporate a limited Defective Condition Exclusion, more commonly referred to as DE3.  With long established market leading facilities in place, enhanced covers to either DE4 – Defective Part Exclusion or DE5 – Design Improvement Exclusion, are available.

Projects often require numerous parties to be named as Insured Parties such as Subcontractors, Financiers and Local Authorities.  Senior Wright selected Insurer partners are familiar in particular with requirements of Financiers and can accommodate such requests.

Under the Joint Contracts Tribunal (JCT) agreement, there are various options relating to the insurance of the works:

Contract Specific in the name of the Contractor – JCT Contract Option ‘A’
Contract Specific in the name of the Employer – JCT Contract Option ‘B’
Contract Specific in Joint Names – Contractor and Employer – New Build – JCT Contract Option ‘C’
Contract Specific policy in the names of the Employer and Contractor – Property Development/Refurbishment – JCT Contract Option ‘C’.
To incorporate an existing structure – All Risks!

Please contact for any further information.


    Request A Callback