It is Customary to Associate the Term "Building Reinforcement Insurance Against Earthquakes" with TAMA 38 Works Against the Background of the Project's First Purpose - Reinforcing the Old Building Against Earthquakes.
It's important to understand that not every building that needs reinforcement against earthquakes is an apartment building intended for residence. There are public buildings, buildings designated for preservation, heritage sites that need to be reinforced against earthquakes, etc.
Regular building insurance usually includes earthquake insurance as well, while contractor works insurance also includes third-party insurance and employers' liability insurance, and upon completion of the work, you can also purchase product liability insurance. However, when you come to purchase contractor works insurance for the reinforcement project - you will discover many difficulties.
Building reinforcement works against earthquakes are among the types of projects that insurance companies see as a high insurance risk, and therefore the 'regular' contractor policies do not give you full coverage for performing reinforcement works, unless thorough work has been done for insurance planning.
Moreover, because of the severity of the risks, insurance companies are also not quick to issue insurance policies for reinforcing buildings against earthquakes.
A predicament? We have ways to resolve it.
Insurance for strengthening buildings against earthquakes. Not all strengthening of a building is TAMA 38.
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This is Where Our Professional Knowledge and Experience Come Into Play
To prevent a situation where you enter into work defined as high risk with partial insurance coverage or even without any coverage at all, you need a skilled insurance agent. Over many years of activity, we have learned to deal with projects considered most dangerous and to formulate creative solutions that satisfy the insurance company while providing the broadest insurance coverage at the most cost-effective price. And there are a few more exclusive advantages to us. Here they are:
✔ Maximum coverage at minimum cost – Regarding expanded coverage and building an insurance policy, we perform comprehensive and thorough fieldwork (such as our recommendation to perform a building documentation survey) so that the insurance company has a response that removes objections, allows reducing the level of exclusions, and even increasing the scope of coverage. Since we handle a critical mass of hundreds of construction companies, we can receive from insurance companies and offer our clients particularly convenient prices against policies of a high professional level.
✔ Speed of execution – The time to receive an offer for building reinforcement insurance against earthquakes takes a long time due to the need to thoroughly examine the level of risks from the insurance company's perspective. This insurance is among the group of insurances, such as TAMA 38 insurance, that insurance companies are not quick to insure at all. It's important to understand that without a signed and approved policy, you cannot start the project. We prevent delays thanks to the comprehensive information we provide to the insurance company and save it unnecessary time for checks and inquiries.
✔ Our team of experts – In complex projects with a high level of risk, we are assisted by a team of insurance experts, insurance surveyors, assessors, and engineers who stand by you to advise, assist, and mainly ensure that you exercise your rights when damage occurs, as well as - in the case of a serious accident where the notification of it is transferred to us in time - our accident specialist will accompany you in handling on the first day of the event.
You should purchase insurance from us to strengthen buildings against earthquakes.
Earthquake-proofing insurance guarantees you optimal insurance coverage in sections such as insurance for the existing structure, employers' liability insurance, contractor work insurance, and third-party insurance.
All of these, for the project in question, require special extensions and extreme attention to the small details, and the policy exceptions, which are numerous and particularly strict in projects such as strengthening buildings. Regular insurance will not provide a solution, or the coverage in the event of an insurance event will be only partial.
Contractors' work insurance - specially tailored for strengthening buildings
A contractor's insurance policy is the basic policy and includes: property insurance (the work, inputs, and light equipment), third-party insurance, and employers' liability insurance. However, since each construction project has its own uniqueness, the dangers that characterize it only, each project also has the need for insurance coverage and for formulating creative insurance solutions that are specifically tailored to it, while providing maximum coverage at minimum cost...
Safety in the TAMA 38 project
The extreme importance of adhering to safety rules in a TAMA 38 project stems from the fact that it is an unconventional construction site. The TAMA 38 project is the only one of all types of projects in the construction industry that "houses" residents and construction workers at the same time. This is a situation that requires extreme attention and strict adherence to safety rules and safety training not only for your employees but also for the permanent residents of the building because...
TAMA 38 Insurance
TAMA 38 insurance is one of the most complex, given the high likelihood of claims. This is a characteristic that explains why insurance companies are not in a hurry to issue insurance policies to strengthen buildings against earthquakes, such as TAMA 38. Furthermore, a particularly problematic characteristic of TAMA 38 projects is the fact that in the same building where construction work is being carried out, tenants who are exposed to many dangers continue to live at the same time...
Employers' liability insurance
Employers' liability insurance is a section within the contractor's work insurance policy , so the question is not 'whether to take out employers' liability insurance', but rather how to achieve maximum insurance coverage? This point is especially important in light of the unfortunate figure that characterizes the construction industry: 6,000 injuries, of which nearly 50 are fatalities, each year! This figure indicates a multitude of scenarios and dangers that lead the insurance company to minimize risks by reducing insurance coverage or increasing the cost of the policy. Our goal is to obtain the broadest coverage for you...
Examples of projects we have secured
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