If you’re a builder with an annual contract works policy (instead of taking out individual policies for each build) it’s important you understand which type of annual policy you have. Any misunderstanding of how your particular policy works could leave you exposed....
Most liability policies cover the legal costs related to a claim under that particular policy, ie. for defending the claim against you. For example, if you are sued for causing damage to someone’s house, and this damage is covered by public liability insurance, then...
Well, it should do. Regardless of who arranges it generally sub-contractors can and usually are included under the policy. That means it doesn’t matter if it’s the builder, the owner or a subbie who damages the works, the contract works policy will cover it. Who pays...
This is an exclusion in most construction and liability policies these days. It stemmed from the leaky homes crisis and effectively excludes any claim where water has penetrated a building through its external envelope. This sucks for trades who are working on this...
The protection of retentions has been an issue in the construction industry for years, not just in New Zealand but globally. Amendments to the Construction Contracts Act a few years back put obligations on head contractors to protect those retentions by holding them...
