Property Development

Property Development

Liability insurance and insurance of the installations of property developers form part of the solutions we provide for the engineering and construction activity, such as: Construction and Erection All Risks, Machinery Breakdown, or Construction Liability, amongst others. We are a multinational team that has an objective to provide a comprehensive response to our clients’ needs.

We know that, as a result of property development activity, certain elements of housing, buildings or estates can suffer losses, or can produce damage to adjoining property as a result of the work that is carried out. For that reason, at MAPFRE Global Risks we believe in providing comprehensive risk management during all stages of the process, from construction to testing and final maintenance, and working directly with all of the parties involved in the process.

Our covers for property developers guarantee the safety and prevention for all civil works and installations that form part of the execution of the works. These include cover for risks of nature, fire, theft, damage due to errors in design or execution, defective materials, acts of vandalism, damage originating from outside of the works, burst pipes from outside that cause damage to the works, etc.

With a view to providing a personalized and comprehensive service we offer additional covers so that the property development activity is carried out with the maximum degree of safety, economy and efficiency of resources and with continuous updating and review of the processes. These extended covers include repair of the damage that affects mechanical resistance or stability of load bearing walls, repair or reinstatement of waterproofing elements in roofing, sealing of cellars or waterproofing of walls or damage to the building undergoing reforms, refurbishment or modification.

From the Construction Business Area we can provide our insureds with specialization in the design, implementation and management of International Programmes, offering tailor made programmes for each client from a sole underwriting team that offers comprehensive solutions for the property development sector. We use on client servicing team to coordinate the service and a sole claims handling team to ensure maximum diligence in the construction processes.

In MAPFRE Global Risks, we provide our clients with highly qualified underwriting teams that are specialized in construction, engineering and the large infrastructure sectors  and have broad and successful experience on numerous cases.