Who needs building technologies insurance?
This sector includes businesses which provide products, systems and services to help ensure businesses are compliant with the environmental regulatory requirements for energy management. This can include energy management systems, designing & architecture, construction of sites and manufacturing of energy conservation material (e.g. insulation, UPVC windows).
The Opportunities
- Environmental Consultancy market has an estimated turnover value of £10bn and is forecasted to grow to over £14bn by 2015
- There are over 5,000 businesses in the UK employing more than 90,000 people engaged in manufacturing, construction, installation and maintenance in this sector
Key Covers Available
Some of key covers to consider for your customers in this sector.
- Property Damage All Risks Cover – cover to protect from theft, loss or damage to specialist tools, equipment or machinery
- Machinery Breakdown – electrical and or mechanical breakdown of any specialist plant, machinery or equipment resulting in loss of revenue
- Business Interruption – cover for periods of operational downtime as a result of an Insured peril, machinery breakdown and equipment failure
- Computer – cover for specialist computer equipment including laptops and portable media used off site. Reinstatement of Data cover should also be considered to protect from any loss of valuable data not easily replaceable
- Employers’ Liability – provides cover for accidents likely to arise from hazards such as manual working, hazardous substances, noise, high temperatures and moving vehicles such as forklifts and dump trucks
- Public Liability – provides cover for any damage caused to third party property on recycling site or in adjacent vicinity
- Products Liability – essential for any business that manufactures, distributes or sells energy management equipment or other such products. We can also offer Product Recall for businesses against the costs arising from a recall of any defective products that may cause imminent injury/damage
- Professional Indemnity – for professionals such as architects, consulting engineers, project managers and surveyors who accept design liability as part of Design & Build contract terms
- Directors and Officers Cover – a very useful cover for this sector due to the use of new and emerging technologies, processes and equipment. Helps protect company directors and officers if accused of any ‘wrongful acts’
- Marine Cover – a significant number of businesses are involved in the export and import of components, semifinished goods, machinery and equipment throughout the world. Covers available include Marine Transit for any loss of goods and Marine Delay in Start up to protect from any consequential loss in revenue.