Surety & Housing

Generic Risk Control

This type of policy is designed to track the progress of projects, benefiting insurees by allowing for a lower claims rate.

The policy helps to detect project delays which, if identified on time, can often be managed without detriment to the interested parties.

Risk control truly enhances an insuree’s capacity to react in the face of unforeseen events. The insuree can often understand and accept an extended deadline on housing completion if the promoter’s commitment and the policy’s expiration date are also extended, thus avoiding claims.

To achieve this level of assurance, we do the following as part of our risk-tracking program:
• Insured projects are checked at least every two weeks.
• The architect’s work progress is evaluated, item by item.
• The builder’s photographs or work progress is reviewed.
• Our Technical Housing Department visits the site when needed.

This risk-tracking program helps reduce the number of claims. However, in the event a claim is filed the insuree can expect a prompt, efficient response from our legal team.

Working together, the broker and our company works closely with the insuree throughout the entire process, ensuring a successful outcome for all parties involved.