For Large-Scale Projects You Need a "Big" Insurance Agency
Evacuation and reconstruction insurance, similar to TAMA 38 insurance, is complex to implement and requires specialization in construction industry insurance, risk analysis, and delving into deep resolutions regarding all aspects of project execution processes.
In addition to the risks of contractor works, there is another component that deters insurance companies – the population that needs to be evacuated from the existing building. In many cases, it involves a weak and sometimes problematic human landscape (see the Ramat Elishiv evacuation and reconstruction project in Lod, which was characterized by crime, drugs, and serious delinquency). The meaning of the expression in the headline – a 'big' insurance agency – refers to our successes in building evacuation and reconstruction insurance policies with large insurance coverage, at small cost.
Speaking of population evacuation - one of the risks in such projects is the prolongation of the project and as a result, delay in the delivery of apartments, and unplanned expenses of rent for residents forced to live in rented housing until the project is completed.
In part, the risk is not insurable, but as far as physical damage that occurred at the site is concerned - appropriate insurance coverage can be obtained.
Demolition rebuilding insurance
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All the Profit is Yours:
Years of persistence and professionalization have led us to the position of the leading agency for insurance in the construction industry. Throughout our more than 30 years of specialization in the field of construction company insurance, we have also created close relationships with insurance company underwriters who open doors for us out of appreciation for the quality of underwriting information we submit to them. Especially when it comes to policies with a high level of risk such as: contractor works risk insurance, TAMA 38 insurance, developer insurance, evacuation and reconstruction insurance, and professional liability insurance.
The advantages that work for you:
✔ Cost reduction – High risk level translates in insurance companies to raising rates and even refusing to make insurance. With the professional tools exclusive to us, we will succeed in issuing you an evacuation-reconstruction insurance policy on preferred terms.
✔ Insurance coverage – Another tool in the hands of insurance companies designed to reduce risks is exclusions and special protection requirements, including delving into deep resolutions on how to execute the project. Failure to meet these requirements involves loss of insurance coverage (even though sometimes these are requirements that are clearly impossible to implement). This is exactly the point that illustrates why you need an agent with 'big' capabilities and whose word carries weight to create a policy with optimal insurance coverage for you.
✔ Shortening processes – Insurance companies' reservations, and against them, the need to create creative solutions for you that on one hand cover you and on the other hand are acceptable to the insurer, all these require time. And yet - despite all this - we have the tools and channels to expedite processes to prevent unnecessary delays for you.
✔ With you at every stage – We, and our team of insurance experts, accompany you not only when building the policy but also throughout the project execution period and afterward. We believe in immediate availability and close professional guidance within which we provide direction, and during an insurance event, we ensure that the insurance company meets all its obligations as arising from the policy terms. And if necessary, in the case of a serious or fatal accident, we will also provide you with experienced accident investigators and lawyers who will assist in your conduct.
Contractor work insurance because a large project needs large insurance
This is the basic policy. The question is whether the coverage is sufficient? That's right, it includes: both property and works insurance, third-party insurance and employers' liability insurance . However, each project is different from the previous one, and therefore, if you want to benefit from maximum insurance coverage, the policy should also be built accordingly. This is why the contractor's work insurance policy should be built by an experienced and knowledgeable agent. Well, you've come to the right place...
Professional Liability Insurance - Essential Information
A mistake or omission may cause various types of damage, and not all damage in a project is necessarily physical damage. Coverage in the contractor's policy is limited to physical damage only. There is no construction contractor who does not make mistakes. And any mistake or damage in the construction industry involves heavy expenses. This is where we come into the picture...
Product liability insurance
The purpose of the product liability insurance policy for Pino Binui projects is to cover damages that will be caused as a result of a defect in the product (the structure) or one of its parts after the project is completed. Emphasis on after the project is completed. The Sales Law requires a warranty for up to 10 years and in some cases up to 20 years. And there is no shortage of examples: exterior tiles that fell on people, a balcony that collapsed, a railing that collapsed while a person was leaning on it, etc. And so that the costs of damages do not come out of your pocket, it is important to have an experienced agent by your side who can see ahead...
Insurance company survey
A tool that allows you to expand your coverage and reduce exclusions and requirements from the insurance company.
Performed on behalf of the insurance company by an expert surveyor in the construction industry, and he is the one who will usually determine the mandatory protection requirements for insurance coverage for the project, as well as the terms of coverage in the event of damage or physical injury to an employee or third party in the project.
The survey will sometimes even affect the way the work is performed. Damage Controls Failure to comply with the survey requirements may even result in the denial of insurance coverage...
Survey to document the condition of nearby buildings
A tool that allows you to expand your coverage and reduce exclusions and requirements from the insurance company.
A documentation survey of adjacent buildings is a condition for covering damage due to shaking and weakening of ground support for buildings adjacent to the project in third-party insurance and is extremely important for insurance coverage.
The survey is intended to document the condition of the buildings adjacent to the construction project before work begins in order to determine, if damage will be caused to nearby buildings, to what extent, if any, the work caused this damage...
Examples of projects we have secured
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