The notion of construction insurance
The French construction insurance scheme has 4 to 5 different contracts which cover the construction site itself, the civil liability of the developer, and the building itself when it is achieved. They have to be subscribed by the developer of the construction.
During the construction work, the Contractor's All Risk Insurance (Tous Risques Chantiers or TRC) protects from the damages caused onsite such as the collapse of the building during its construction.
During the same period of time, the client covers his civil liability (bodily injuries, material and immaterial damages caused to third parties) thanks to the Professional Indemnity Insurance (RCMO).
After the handover of the building, the Dommage Ouvrage policy has to be applied. This insurance covers the damages caused to the building during a period of ten years. It is a compulsory insurance according to the French law (loi Spinetta).
The Dommage Ouvrage insurance goes with the Responsabilité Civile du Constructeur Non Réalisateur (CNR) which follows the Professional Indemnity Insurance (RCMO).
When a construction costs above 15 million, according to the French law, the subscription to a collective decennial liability insurance (CCRD) is compulsory. This contract covers the civil liability of all the contributors to the act of construction and has to be subscribed by the developer.
Our role at BMS
BMS evaluates the project and presents it to the insurance companies.
BMS designs the ad hoc insurance program, prepares a "quotation document" to be presented to the insurance companies. Then, BMS negotiates the underwriting of the program, and provides the follow up of the program with an emphasis on Claims management services.
At any time during this process, the client can have a contact with the dedicated person.
Our insurance partners
We have strong relationships with insurance companies active on the French market, we work closely together, always trying to find what could be the best for our clients.
Our expertise is recognized by major insurance companies such as Allianz, Zurick, Covéa-MMA, Albingia, AXA, QBE, Aviva, XL Group, HDI…
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