Interview with Itzik Simon on the home page regarding rural construction insurance

מPlanning a move to a rural community?In communities where a new neighborhood is being developed, various risks await you—many of them related to construction insurance. Here is how to manage yourself properly in this challenging field.

The rural sector is reinventing itself. According to data recently presented at the Rural Settlement Fair held last July at the initiative of the Settlement Division, approximately 55,000 housing units are expected to be marketed in rural communities in the coming years, about 40,000 of them in the Negev or the Galilee.

There are many different construction methods in rural communities. In some cases, land is marketed with infrastructure development, and each family contracts independently with a contractor of its choice (“Build Your Own Home”). In other cases, the approach is centralized construction—namely, the community, represented by the association/committee or its members, initiates an engagement with an executing contractor. The contractor builds dozens of housing units according to several models from which the residents may choose, a process that is closer to purchasing a property from a contractor than to self-construction.

Whether it is centralized construction or self-construction, the process entails various insurance-related challenges. In order to gain a deeper understanding of these issues, we turned to Itzik Simon, CEO of a leading construction insurance agency specializing for over 30 years in insurance for the construction and engineering sectors….

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