SUBJECT OF THE INSURANCE
Insurance protection against damages occurring during the execution of construction work, of equipment at the construction site and/or construction machinery, as well as against claims by third parties related to material and non-material damages as a result of the execution of the construction work.
The term of the insurance begins with the start of the work or after the unloading of the objects described in the table at the construction site, provided that the insurance premium has been paid or a part of it in case of contracted payment by installments. The liability of the INSURER lapses upon the commissioning or entry into operation of the part of the contracted insured objects.
Within the term of the insurance, pursuant to the present section, the INSURER will compensate the INSURED for each unforeseen or sudden physical damage or breakdown due to any reason at the sites or a part of them, which are included in the appendix, up to an amount not exceeding the limits of each of the specified objects and the total insurance limit of the policy.
The insurance premium is determined based on the type of the object, risk circumstances, and additional clauses included in the basic coverage.
In case of a loss, the INSURED must promptly notify the INSURER, who performs an inspection.