Engineering Insurance

Solutions

We give advice and facilitate the placement of Construction and Engineering Insurance and Construction related Guarantees
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Quintosys Engineering Insurance Policies can be divided into two Categories:
Renewable Annual Policy

Renewable Annual Policy

Though the premium might be small, they guarantee a continuing annual renewal premium.

Once off construction / erection policies

Once off construction / erection policies

– Can bring large single once off premiums

– Mainly do not provide an opportunity for renewal premium.

- As such a continuous search for new ones to replace the expiring policies is required to maintain CAR/EAR premium income

Types of Cover

Contractors All Risk

–Purpose

  • Comprehensive protection against loss or damage in respect of contract works, construction plant, equipment, machinery, TPL,

–The cover

  • All risk – every hazard is covered which is not specifically excluded
  • Any sudden and unforeseen loss or damage

–Possible Applications

  • buildings, roads, ports, etc.

–UW Information

  • Type of project, environmental conditions, locations, sum insured

Even our benefits have perks. Let us help you.

At Quintosys we understand that it is key for us to partner with our clients. We ensurie that Bonds and Guarantees are issued timeously, and also apply for the most affordable rates

Construction Related Guarantees

Is a written guarantee submitted to the principal (Employer by a contractor with his bid. A bid ensures that on acceptance of a bid by the Employer, the Contractor will proceed with the contract and will replace the bid bond with a performance bond. We undertake to secure on behalf of contractor a guarantee where the contractor is awarded the contract

Are issued on behalf of the Contractor to the Employer where a percentage of the contract value (generally up to 50% of the total contract value) is actually paid upfront by the Employer to the Contractor to assist with start-up costs and site occupation and once again provides the Employer with cover should there be a default on the part of the Contractor and funds cannot be recovered. These can only be issued providing that the Performance Guarantee has already been issued for the particular project and cannot be issued as a stand-alone guarantee.

Are issued on behalf of Contractors to the Employer(s) and provides cover and comfort to the Employer in the event of non- performance on the part of the Contractor as well as in circumstances where the Contractor is placed into liquidation or insolvency.
Are issued on behalf of the Contractor to the Employer in Lieu of the Employer withholding any funds from the Contractor’s payments and thus provides Contractor with additional cash flow and working capital.
Are issued to the Employer where the Employer has advanced funds to the Contractor for the purchase of materials required for a specific project, again giving the Employer comfort. Guarantees ownership to the employer where the contractor fails to build the materials into the contract works
Guarantee that the contractor shall re-import plant and equipment used for neighbour states projects/contracts
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Have questions in mind? Let us help you.

The extensive and comprehensive track record of the Quintosys team both nationally and internationally is testament to our proven ability to add value to your organisation