Technical malfunctions, material defects and operating errors can result at any time in damage that results in plant and machinery downtimes. In the case of installation projects or on construction sites, external factors like natural hazards or fire risks exacerbate the risk exposure. HDI’s Engineering and Construction insurance solutions provide insurance for existing risks. ‘All Risks’ cover provide comprehensive insurance against property damage and business interruption losses. Project cover factors in the extensive risks involved in major construction and plant engineering projects. Policyholders in all categories have access to risk engineers from HDI Risk Consulting. They provide support to clients in the form of early identification and avoidance of potential risk situations.
During the construction/installation of:
and the operation of assets within industries involved in:
the company’s property is exposed to various perils such as from:
Physical damage caused by these perils and more, including when followed by a downtime of works/operation which causes financial consequences for contractors and owners/operators of such property.
HDI offers a broad range of Engineering and Construction Insurance-products from standard policies to bespoke solutions including manuscript wordings. HDI can arrange insurance programs for projects OCIP (Owner controlled insurance programs) and CCIP (Contractor controlled insurance programs) covering interests of various insured parties according to the needs for the specific project and / or local requirements.
HDI reimburses all the agreed costs incurred to restore structures, machinery to its status prior to damage. Additionally ALoP/DSU (Advanced Loss of Profit / Delayed Start Up) or BI (Business Interruption) insurance offer protection for consequential financial loss of profits; ICoW (Increased cost of working) is an integral part of any ALoP/DSU/BI cover.
HDI products’ proposition embraces construction/engineering policies protecting all industries’ projects controlled by either Investor or Contractor as well as policies during the operational phase for Operators’ assets, e.g.:
For e.g.:
Undertaken by contractors active within the country and world-wide
For e.g.:
Industrial Special Risk (ISR) for:
Engineers with many years of professional experience in the industry work for HDI as underwriters, claims-engineers and risk-engineers and provide support to clients on the full range of technical insurances.
HDI has sufficient capacity at its disposal to provide insurance cover for major projects.
Our world-wide network enables us to serve our clients in their home country as well as providing insurance policies almost world-wide.
HDI provides claims management services based on experience, ranging from minimising and repair of damage to a reliable claims settlement.
HDI Risk Consulting provides a cross-industry risk engineering service to help clients identify and quantify risks. Where necessary they can recommend risk-reduction and risk-avoidance actions. Risk engineers assess technical risks, which can result from the condition and operation of machinery, and plant and equipment. Construction project advice and support is provided in line with the relevant safety and security related requirements through local inspections and central co-ordination.