Launched in 2013, Construction Protection Intégrale is a solution that addresses the insurance needs of companies managing construction projects by covering the risks associated with to their activities, with a single policy.
Construction Protection Intégrale provides comprehensive coverage during the construction period. It combines the following coverages: Construction All Risks (CAR), Third Party Liability (TPL), Advanced Loss of Profit (ALOP) and Contractors' Plant & Machinery (CPM). The policy also covers material damage due to inherent defects for 10 years after completion of the project, in accordance with French law.
XL Catlin has updated its wording to cover non-performance elements such as internal furnishings. In addition, the decennial guarantees have been extended to cover individual partners of a property investment company (SCI) responsible for a construction project covered by the policy. This coverage is now valid even if the property investment company is dissolved. Finally, a rebate on premiums is offered to insured project managers that can provide statements from each subcontractor where they accept liability for their part in the project, providing it is valued under 15 million euros.
Olivier Antiphon, Construction Underwriting Manager – France, explains: “Construction Protection Intégrale was designed as a combined solution to better serve our clients’ needs. It is critical that we update it as the law and jurisprudence evolves to make sure it remains simple yet comprehensive.”
Commenting, Bruno Laval, Regional Manager France & Southern Europe – Insurance, said: “In France, the Construction industry is made up of over 400,000 companies that generate 124 billion euros in total revenue. We’ve been providing insurance solutions to the industry for nearly 10 years”.
Mr. Laval added: “We are actively building out our capabilities in the French market and Norbert’s appointment is excellent news both for our Construction team and XL Catlin in France.”
Norbert Yvonnet has 20 years of experience in Insurance. Over the last 15 years, he held several underwriting and client management roles in construction insurance, notably at Zurich Global Corporate and Allianz France.
About XL Catlin’s Insurance Operations
The XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd’s (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.