Being one of the fastest-growing economies in the world, India has witnessed a rapid boom in the construction, power, and infrastructure sector. Each Project today is large with various complexities originating from geography, execution process, scale, multiple stakeholders, etc. With a multitude of risks involved in project execution, it is imperative for principals or contractors to take appropriate risk mitigation insurance programs that cover these risks.
Construction projects normally operate on a large scale. With multiple stakeholders involved in the project, the nature of financial transactions can also become complicated. Then, it is again important to comply with the local guidelines and regulations at all times. With risk exposure from multiple fronts, it becomes important for the entity to sign-up for a holistic insurance programme that offers adequate coverage against all the risk factors that the entity/project might be exposed to during the normal course of business.
Construction phase insurance is highly recommended for entities like,
• Construction Companies and/or contractors and sub-contractors.
• Manufacturers setting up greenfield plants or expanding existing ones.
• Power and Utility Sector Industries.
• Infrastructure project companies
• Private equity investors and managers
• Banks and other financial institutions
Ever since our inception, we have had the opportunity of working with an extensive range of clients operating in this space. This expertise has provided us with a practical orientation required to deliver cutting-edge insurance solutions and managing the claims.
At Zoom Insurance we have expanded our services to also include the following:-
• Contract review for determining the insurable interest and defining insurance responsibilities between the contractors and the principal.
• Data driven risk evaluation to offer the most effective risk advisory and insurance syndication solutions.
• Innovative and customized insurance solutions that deliver a positive impact on the business operations of the client.
• Claims/loss adjustment support.
With our experience and expertise, we deliver a vast range of benefits to our clients in the construction, power, and infrastructure sector. Some of the most notable benefits of our insurance services include: –
• Experienced team of consultants to answer all questions and queries in an organised and professional manner.
• Placement and claims servicing being done by some of the best professionals with insurance and engineering domain expertise.
• Round the clock customer support services for all types of questions or problems being faced by the client.
• Leveraging the latest technological tools to deliver cutting-edge insurance and risk management solutions.
• Extensive experience of working with local and international underwriters/insurance companies.
Our consultants have extensive experience in handling all types of insurance requirements for entities involved in the construction and infrastructure sector. Here are some of the vast range of services that we offer to our clients,
1. End to End Risk assessment-Risk Transfer Mechanism & Process-Claims advocacy throughout the project
2. Loss of profit and transit risks
3. Terrorism & Political risks
4. Project liability risks or Professional Indemnity Insurance for Contractors
5. Lenders Due Diligence
6. Employer’s Liability or Workmen’s Compensation