【 Weak current College 】 claim knowledge manual (4)

Chapter III project insurance and claims

I. on engineering insurance

The China Development Bank loan construction project insurance provisional regulations on management Express: "in the development of the National Bank of RMB loan and medium-sized construction projects as well as the loan amount in 30 million Yuan (including 30 million) than other construction projects, the borrower or engineering contractor, raw material (equipment) for manufacture, transport, supply side (the above relationship per capita by the borrower to urge) in principle should be based on the risk situation of the insured ...."

Contracted projects of general contractor, from the tendering to start, the construction phase and project completion surrendered a series of risk. Therefore you must press the contract for the insurance. The basic function of engineering insurance is economic compensation, that is, by the policyholder premiums and way to share a casualty loss. It contributes to project investors control or cost savings. Resilience project under construction, with a high degree of risk, in the event of loss, not only on the project itself caused enormous losses of material wealth, even affecting neighbouring personnel and property.

So the project insurance as will convert engineering risk market risk, achieve economic security, reduce economic losses of effective means, it is very necessary, are also affected by the project owners, contractors, subcontractors and other projects for people of all ages. Especially in recent years, the reform and opening up, socio-economic development and prosperity, increased foreign investment projects. A variety of new, expanded and reconstructed construction works project increasing, and the need for more comprehensive, multi-level, a high level of engineering insurance services.

Second, the fundamental concept of insurance

1. why insurance is an effective means of transferring risks?

First, the loss can be economic compensation. Insurance is a financial guarantee to pay the premium, the insured event, and the insurers entered into an insurance contract, the insurer would be at their own risk.

Second, you can get the risk management service, the insurer shall assume the risk, the use of their own risk management experience, draw on social forces, in order to provide the insured loss prevention services for disaster prevention, reduction of accidents;

The third is the insurance guarantee high safety, insurance is a legal contractual relationship, it is based on the mathematical calculation of operational risk, avoid blindness, protect the economic interests of the insured.

2. What is the insurer?

Insurer, or insurers, is to carry on insurance business in insurance premiums, and after the accident the person responsible for the insurance money to corporate management, often called the insurance company.

3. What is insured?

The insured is to be the subject of an insurable interest, an application to the insurer and the insurance contract entered into with delivery of the insurance obligation. The insured may be natural or legal persons. When the insured are insured for their own interests, and the insurer accepted the insured, the insured person to the insured.

4. What is insured?

The insured person is subject to guarantees of the insurance contract. They take their property, life or health of the insured, the insurance after the accident, the insurance claim. The insured can be insured for the same person.

5. What is insured?

Insurance is insurance protection goals and entity refers to the insurance contract, the rights and obligations of the parties to the object. The subject can be a property, and property-related interests or obligations, or to human life or health.

6. What is the insurance amount?

The insured amount, hereinafter referred to as the "insured", is the monetary value of the insurance interests, is insured when the insurance of the confirmed amount, are calculated for the receipt of insurance premiums the insurer and pay the maximum amount of liability.

7. insurance rights and obligations of the parties?

Pursuant to the Insurance Act in China, property insurance insurance contracts the policyholder has the obligation to pay the premiums, to maintain the security of the subject, the subject of the notification of dangerous levels increased obligations and prevent or reduce loss, etc. And the insurer have to pay the insurance indemnity payment obligations and some other special obligations, such as paying fees and litigation expenses and rescue obligations, etc. As insurance against the party's obligations, the other party shall have the right to take appropriate measures, such as the increase in premiums, suspend or terminate the contract, etc.

8. insurance "proximate cause"

Proximate cause, is the result of losses to the subject of the most direct and most influential of the reasons why it is happening in effect judgement rather than from the time of judgment. In the loss of more than two reasons, and each causes a causal relationship between its first occurred and caused a series of accident is the immediate cause. Insurance underwriting risks directly from any loss, liability, and for non-directly by the underwriting risk arising from any loss, are not liable for compensation.

9, enterprise which insurable property

There are a lot of property of enterprises, but does not have insurance, property insurance as an enterprise which is the subject of the following:

A. all belonging to the enterprise itself or with other people there were the tangible property in the custody of the enterprise;

B. by enterprise management or for another custody of tangible property;

C. other legally recognized and enterprise have the economic interest of tangible property.

10, basic insurance and additional insurance relations

Basic insurance is the insurance cover can be individually and insured risks. And additional insurance is not a separate insured and insured risk, the insured person can only be insured on the basis of the basic insurance to insure additional risks.

If additional insurance terms and basic insurance provisions of the conflict, the inconsistency of interpretation to the additional risks prevail; if additional insurance terms is not stipulated, then the basic insurance terms prevail.
BR > 11, qualified insurance

The insured amount is less than the actual value of the property. The sum insured shall be regarded as inadequate some captive insurance, the insured in case of loss, insurance companies, the real value of the property and the amount of the payment of insurance losses.

12, should the claim within the period

Insurance claims is a period of time, life insurance claims is five years, the non-life insurance for two years, but there are some insurance claim period is one year.

III. main line describes engineering insurance

1. construction all risks: a contract price or the price as the sum insured, the proposed budget in order to reset the basis for compensation, the insurer to civil construction as the main body of works in the entire building period because of insurance within the scope of the risk of causing insurance project material damage and the cost of insurance claim. The insurance shall be borne by the borrower or the borrower requirements engineering contractors insured.

2, erection all risks: is the equipment purchase contract price plus all the associated costs or to the final completion of the installation works at a price of sum insured, to reset the basis for compensation, specialized underwriting to new, expanded or transformation of industrial and mining machinery, equipment or steel structure building in the entire installation, commissioning period due to the insurance risks within the scope of the insured property of material losses and the cost of insurance claim. The insurance shall be borne by the borrower or the borrower requirements engineering contractors insured.

3. comprehensive property insurance: refers to exclusion on insurance period internal insurance accident insurance property of material losses and the cost of insurance claim. The insurance shall be borne by the borrower to insurance companies.

4. the borrower uses the loan to Development Bank procurement of raw materials, equipment, and should require the manufacturing side, the transport side, supplier for manufacturing, transportation and other sectors of the insurance contract performance.

IV. building insurance instructions

1. the insurance policyholders must provide contract, contract payment schedules, project design reports and estimates, project schedules and project plans, and other information;

2. the insurer underwriting risk assessment to be carried out, mainly including geological reports, hydrological data, etc.;

3. the insurance policyholders must fill in the construction and installation engineering insurance compliance questionnaire and insurance application and the attached list and detail schedules;

4. when the insured in the insurance must carefully read the terms of the content, in particular insurance liability, exclusion, the insured's obligations, claims and claims;

5, the insured should be insurance project "Jianan insurance coverage requirements" set out in the breakdown of completed projects;

6. When should be insured to project budget or contract price initially determined insured amount;

7, contractor and construction (installation) of the project should be set out in detail in the name of the contractor and construction (installation) of the project and amount;

8, expressly provide third party liability insurance and compensation limits and deductibles of accident;

9. determine the premium payment methods, delivery is not agreed instalment must be insured in the insurance premium of the insurance contract before the commencement of the insurance premium disposable hand winding; delivery of insurance premiums in instalments, a maximum of three stages, and the first phase must deliver the amount of 50% of the total premium;

10, the insured must provide the insurer with the insurer may require different types of documents;

11, policyholders and insurance application to the questionnaire filled content checked, seal, and fill out the complete single-date;

12, in the construction of the project has faced the risk of major natural disasters and accidents;

Natural disasters: earthquake, tsunami, lightning, hurricane, Typhoon, Tornado, storm, flood, storm, flood, hail, landslides, avalanches, volcanic eruptions, subsidence sinks and other force majeure, the destructive force of powerful natural phenomena;

Accident: refers to the unpredictable and beyond the control of the insured and caused material damage or personal injury of emergencies (including fire and explosion) and test period in the event of an accident occurred;

13, construction all risks and erection all risks: the major construction all risks insurance for civil engineering projects, consisting mainly of works and erection all risks major underwriting machine equipment installation-based engineering projects;

14, construction all risks and erection all risks rates of: construction and mounting works primarily on the basis of the rates for the duration of the project itself, the risk, in accordance with the construction of the entire project duration premium;

15, in architectural engineering and erection all risks in the construction equipment coverage: construction equipment may, in accordance with the requirements of participants for the insured, but in accordance with the annual rate of premium;

16, construction personnel casualty insurance processing method: construction and installation engineering insurance does not protect the construction personnel or personal injury, should the insured employers liability insurance or personal accident insurance;

17, the provisions of the insurance period

Construction all risks insurance period shall commence from the insured on the date of the project to completion experience when your qualified;

Erection all risks insurance period should start the installation from the insured works on the experience of your qualified installation time;

Comprehensive property insurance of insurance period shall be from the project completion date of the acceptance to pay off the loan principal and interest of the Development Bank; ended

Product manufacturing, transport, supply party insured manufacturing, transportation, and other performance link insurance insurance period, starting from the product manufacturing, transportation, and manufacturing, transportation until the date of completion.

V. claim notice

1 after the insured accident, engineering should be reported to the insurance company as soon as possible

(1) on the property of being subjected to accident insurance for emergency treatment;

(2)Rapid orally or by telephone to notify the insurance company, insurance accident report, and provides the policy number, name, address, the reason for the accident and loss;

(3) assist insurance companies or other organizations to investigate the incident and accident dingsun, determine, liability and loss amount of size, etc.;

(4) fill out the "notice of accident;

(5) from the owners, design, project management, reporting the accident insurance coverage beyond the project, according to the claims handling.

2. after the insured accident shall safeguard the scene of the accident, and actively carrying out rescues, prevent loss of further expansion, and for failure to complete loss of property for repairs or discount sale;

3. request the insurer as soon as possible to the accident site inspection of damaged parts of the project progress, identifying damaged parts are scheduled progress construction;

4. the insurer shall, in accordance with the survey, a clear division of responsibilities and liability insurance, just assume the other insurance within the scope of the loss;

5, the insured after the accident, you should fill out a claim form, together with the policy requirements of the accident proved material, various project documents and inventory losses and to insurance companies, the insurance company requests for compensation;

6. the calculation of compensation shall be determined by the method when the insured;

7, the loss is established, the requirements for insurers to make claims as soon as possible.