Insurance Cover for Property Development
The devils in the details – Ensuring you have sufficient coverage for your development project.
Research results, in the insurance sector, highlights key risk area’s when it comes to insurance cover for property development during the construction and maintenance phases and when which cover applies.
In this webinar Estate Living and Ashwin Ramjiawan Business Underwriting Manager at OUTsurance, discuss the most common cover types taken up by Property Developers and HOA's in South Africa and how theses policies should be managed and updated to ensure the correct coverage and appropriate premiums.
#EstateLiving #OUTsurance #SouthAfrica #PropertyDevelopment
00:00 Opening
00:30 Louise Martin | Estate Living - Welcome, Introductions & overview
03:39 Ashwin Ramjiawan | Business Underwriting Manager, OUTsurance - Introduction and finding the right cover for your development project.
06:08 Ashwin Ramjiawan - Policy breakdown
09:26 Ashwin Ramjiawan - Period of insurance and maintenance period
11:48 Ashwin Ramjiawan - What is run-on cover
12:32 Ashwin Ramjiawan - Extensions and clauses on all-risk cover
14:48 Ashwin Ramjiawan - Contractors all-risk cover overview
15:08 Louise Martin & Ashwin Ramjiawan QA - Cover for contractors and subcontractors
17:08 Louise Martin & Ashwin Ramjiawan QA - The difference between liability and indemnity as far as insurance cover
19:33 Louise Martin & Ashwin Ramjiawan QA - Other assets covered or not covered under all-risk cover
21:15 Louise Martin & Ashwin Ramjiawan QA - Cover during transport
23:19 Louise Martin & Ashwin Ramjiawan QA - Who is responsible for excess payment and who is the policy holder
25:25 Louise Martin & Ashwin Ramjiawan QA - Covering on-site theft & vandalism
26:40 Louise Martin & Ashwin Ramjiawan QA - How to specific should you be in policy wording, how does wording translate into different phases and what documents are required to ensure cover
30:29 Louise Martin & Ashwin Ramjiawan QA - Other risks covered in a construction period and claim turnaround
33:36 Louise Martin & Ashwin Ramjiawan QA - Exclusions
35:07 Louise Martin & Ashwin Ramjiawan QA - Risk analysis process from an HOA perspective, is insuring HOA's after development is important and certifications of completion
40:30 Louise Martin & Ashwin Ramjiawan QA - How do developers bring municipal structures into their policy
42:46 Louise Martin & Ashwin Ramjiawan QA - How and when does force majeure come into play
44:16 Louise Martin & Ashwin Ramjiawan QA - When does business all-risk become required
45:48 Louise Martin & Ashwin Ramjiawan QA - Force majeure definition
46:14 Louise Martin & Ashwin Ramjiawan - Policy summary and claims
51:00 Louise Martin & Ashwin Ramjiawan - Summary and thanks
52:52 Close