Engineering risk insurance has the objective of guaranteeing to the constructor the payment of indemnity as a result of the damages caused by accidents during the execution of civil works of various natures, as well as arising from the installation and assembly of machinery and equipment, equipment breakdown of production etc. The policies of this branch have coverage for the work itself, as well as for the materials, the object of installation and the equipment or machines in operation, therefore, it is a branch that covers several risks inherent to civil construction.
in this insurance may appear as insured, the builder, the contractor or even the owner of the work, considering the common interest concern in the conclusion of the construction without additional costs, beyond those that are already inherent to the enterprises nature such as workforce and materials.
Civil construction is one of the areas with the highest performance of specialized professionals, and on which various legal and administrative rules falls upon. At this particular, it is well-known that constructions in general are subject to the observance of municipal codes, state laws and regulatory norms of the most varied species that guarantee the solidity of the enterprise. Therefore, we perform in order to make feasible to the insurer and insured a legal analysis of the insurance contract, based on these legal dictates, which requires a specialized action, of which ACG Advogados is notoriously possessor. Our participation is not limited to the generic evaluation of the policy under the prism of civil law and consumerism, but also focused on a broader bias, encompassing the exclusive legal rules of civil construction and that may influence a possible security indemnity.
The relevance of a proper legal advice in the field of engineering risks is considerable, since the policies of this branch usually involve the guarantee of goods and constructions of high value, which already demands caution in the decision making itself. Notwithstanding, it is notorious in the insurance business that the terms of the policy must be drafted in an absolutely clear way, under penalty of subjecting the insurer to an unexpected risk and the insured to a loss of coverage that will entail a significant burden precisely at the moment when financial support is needed. Thus, legal advice, correctly guiding both parties involved on legal and contractual aspects is recommendable, from the issuance of the policy, as well as during the communication and regulation of the claim, until the payment of the indemnity or even in cases of judicial actions.