Тhe insurance coverage under Property Damage Section includes total loss or partial damage on the insured property, having arisen as a result of a sudden and unforeseeable manifestation of all risks, related to the performance of the construction and assembly works, except for those explicitly excluded as per the General Terms and Conditions under General Exclusions and Special Exclusions sections.

The coverage also automatically includes costs of up to 5% of the total sum insured for the property under Property Damage Section, incurred by the Insuree for damage containment purposes and for elimination of the consequences from the occurred insured event.

Depending on the specific needs, the main coverage may be expanded with additional clauses, such as:

• Coverage of damage, arisen during the warranty period of up to 12/24 months
• Special terms for coverage of damage on underground cables, pipelines and other facilities
• Other, offered under the product

Loss of Profit Section provides insurance coverage against actually sustained financial loss in case of delay in the planned delivery of the construction and assembly site and subsequent protraction of its commissioning as a result of damage, occurred on it and covered under Property Damage Section.

The insurance coverage provides insurance protection upon:

• loss of an insurable gross profit
• increase in operational costs

To the main coverage under Property Damage section you may add Civil Liability of the Insuree or material and non-material damage caused by the Insuree to third persons, having arisen in direct relation with the carried out construction-and-assembly activities.

The indemnity is based on a liability limit, negotiated in advance and written down in the Insurance Policy.

You may conclude the insurance policy in one of the following ways:

• at replacement cost – the value needed to restore or replace the property with a new one of the same type and quality, without applying impairmentor
• at actual cost – the value against which instead of the insured property, a new one of the same quality, type and condition may be provided while taking into account the degree of amortization/depreciation .

The sum insured for machines, equipment and construction machinery can be determined by you using expert evaluation of a licensed appraiser or their book/balance sheet value.

The insurance premium is determined depending on:

• construction site type or assembly works type, and the degree of risk, associated with them
• equipment and machinery, insured as part of the construction-and-assembly site
• negotiated sum insured
• selected combination of insurance coverage options