Insurance coverage for the construction of a power plant – optimization of standard clauses

Monday, February 15, 2016 Veröffentlichungen

Article by Christian Becker in Versicherungspraxis 02/2016 

The construction of a power plant usually implies investments in the amount of three-digit millions. The technical risks threatening during the construction of the power plant which may cause financial losses are immense. The insurance industry offers contract standards for the protection against technical risks. In so far as the policy holder adapts these standards via the insurance contract to the concrete power plant project in the tender and subsequent negotiation, an extensive transfer of the risks to an insurer (resp. to several insurers) is possible.

Christian Becker's article deals with the necessary adaptations of standard clauses in the erection insurance – which is essential for the construction of power plants. The adaptations of insurance clauses described in this article are chosen exemplarily.


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