Construction project in the three-digit million range
The term "industrial insurance" is initially abstract. But imagine: A construction project in the three-digit million range, a combination of refurbishment and new construction, a long-standing customer from the logistics environment, whose operations depend on precise protection of its buildings, processes and technical infrastructure.
This practical example from 2022 already shows how essential industrial insurance can be for the continued existence of companies. We supported our client from risk management through to the entire organisation of the project and provided professional cover for the construction project at every stage.
From liability to property - what all needs to be considered
The prelude: In order to be able to accompany and advise our client in the best possible way, it was necessary to initiate or set up both the purchase of insurance coverage and risk management accordingly. In the area of liability, this included above all the topic of planning liability as well as general builder's liability.
The additional challenge: In the property area, it was not only necessary to insure the pure (new) construction work, but also to define clear boundaries to the existing construction and property insurance at an early stage. One of our essential challenges was therefore to link these teams together in order to keep an eye on the overall risk of the project.
Our approach: As brokers, we subsequently conducted market meetings to achieve sufficient capacity and attractive premiums. In addition to research and negotiations, our tasks included concrete coordination with the property insurer of the existing building on the subject of the fire protection concept, as well as the risk inspection on site at the start of construction. Here we met with the risk engineers and underwriters of the insurers involved in this construction project. Due to a planned construction period of about eight years, it will not remain with this one on-site visit. With the abundance of tasks and the small-scale nature of the project, it quickly becomes clear that the customer needs a strong partner at his side.
Albatros as risk manager and fixed point in your construction project
In the end, the project was successfully insured and started without any complications. However, such a project naturally involves many risks. Therefore, it is reassuring for our customers to know that they have a competent partner at their side. We take over the coordination and keep track of all contracts, conditions, deadlines and responsibilities for you. This is our service promise as Albatros Corporate Broker.
In order to prepare our customers in the best possible way, we also invest in prevention and education. With our so-called "fire protection workshops," for example, we provide annual training for occupational safety specialists and fire protection officers within the Lufthansa Group. All with the aim of minimising risks and optimising protective measures.
