Types of Insurance Used in Property and Construction Fields
General Liability Insurance:
Protects against third-party claims for bodily injury or property damage on construction sites.
Workers' Compensation Insurance:
Ensures coverage for medical expenses and lost wages for employees injured on the job.
Construction All Risk Insurance:
Protects construction projects from damage to structures, materials, and equipment during construction.
Professional Liability Insurance:
Covers architects and engineers against claims of negligence, errors, or omissions in design or planning.
Property Insurance:
Safeguards construction businesses' structures and contents from risks like fire, theft, or natural disasters.
Commercial Auto Insurance:
Covers accidents and damages to company vehicles used for transporting materials and employees.
Directors and Officers Insurance:
Shields executives from personal financial liability in legal proceedings related to managerial decisions.
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