According to the classification of contract subject matter, engineering insurance can be divided into

Engineering Insurance Reference Books (Set) | Comprehensively sort out the classification and concept interpretation of engineering insurance.

Generally speaking, traditional engineering insurance only refers to construction engineering insurance and installation engineering insurance. However, with the continuous expansion of modern engineering construction scale and the continuous innovation of new technology and new management mode, engineering risk factors are becoming increasingly complex. In order to meet the increasingly strong demand for risk protection in related construction activities, insurance for various scenarios and sub-projects has developed rapidly. This paper mainly combs and interprets the classification and concepts of various types of engineering insurance in China at present.

Engineering quality insurance

In a narrow sense, engineering quality insurance refers to engineering quality potential defect insurance (IDI in foreign countries), which is insured by the construction unit of the project. According to laws, regulations and insurance clauses, the insurance company will compensate, repair or replace the insured building damaged by potential defects of engineering quality within the warranty scope and warranty period.

Generalized engineering quality insurance refers to the insurance that insurance institutions compensate, repair or replace the engineering quality damage. Engineering quality insurance includes engineering quality potential defect insurance, engineering quality assurance insurance, professional liability insurance for project participants and other insurance related to engineering quality.

The potential defects of engineering quality refer to the quality defects that are exposed in the use process and do not meet the mandatory standards of engineering construction and the contract due to factors such as design, materials and construction.

Engineering quality insurance covers the economic compensation liability of the insured, and does not exempt the insured from other legal liabilities according to law.

Engineering guarantee insurance

Project guarantee insurance is a kind of contract guarantee insurance with the performance of construction contract as the target. Specifically, the insured pays the premium to the insurer, and when the insured fails to fulfill the agreement or legal obligations due to his actions or omissions, causing losses to the insured, the insurer will pay compensation to the insured. The insurer has the right to recover from the applicant.

At present, the domestic project guarantee insurance market mainly includes: bid guarantee insurance, performance guarantee insurance, project quality guarantee insurance, migrant workers' wage payment guarantee insurance, advance payment guarantee insurance and owner payment guarantee insurance. Some areas are also actively promoting innovative engineering guarantee insurance such as differential performance guarantee insurance.

Bid guarantee insurance

Bid guarantee insurance refers to the insurance provided by insurance companies to the tenderee in the field of construction projects or government procurement to ensure that bidders (including survey, design, construction, supervision and other units bidding for the corresponding business) fulfill their bidding obligations. Once the bidder fails to perform its bidding obligations and causes losses to the tenderer, the insurance company shall be liable for compensation to the tenderer.

Performance guarantee insurance

Performance guarantee insurance refers to the insurance provided by the insurance company to the employer to ensure that the project contractor (including the survey, design, construction, supervision and other units contracting the corresponding business) performs the construction contract obligations. Once the contractor fails to perform its contractual obligations and causes losses to the employer, the insurance company shall be liable for compensation to the employer.

Engineering quality assurance insurance

Engineering quality assurance insurance refers to the insurance provided by the insurance company to the project developer to ensure that the contractor performs the maintenance obligation of engineering quality defects in accordance with the relevant provisions of the construction contract. Once the contractor fails to perform the maintenance obligation of engineering quality defects, causing losses to the employer, the insurance company shall be liable for compensation to the employer.

Wage payment guarantee insurance for migrant workers

The wage payment guarantee insurance for migrant workers refers to the insurance provided by the insurance company to the competent department of construction (or human society) where the construction project is located to ensure that the construction contractor pays the wages of construction workers according to the regulations. Once the contractor fails to fulfill the obligation of wage payment according to the regulations, resulting in the loss of wage income of migrant workers, the insurance company will be liable for compensation.

Owner payment guarantee insurance

Owner's payment guarantee insurance, also known as project payment guarantee insurance, is provided by the insurance company to the project contractor to ensure that the project developer pays the project funds according to the contract. Once the project developer fails to fulfill the obligation to pay the project payment according to the contract, the insurance company will pay compensation, and then the insurance company can recover from the insured according to law.

Advance payment guarantee insurance

Advance payment guarantee insurance is provided by the insurance company to the project developer to ensure that the project contractor will use the advance payment paid by the developer for the insurance of project construction. Once the insured breaches the contract and uses the advance payment for other purposes, the insurance company will compensate the employer for the losses, and the insurance company can recover from the contractor afterwards.

Differential guarantee insurance

The difference guarantee insurance refers to the guarantee insurance that the debtor (the construction unit) entrusts the insurance company to assure the creditor (the owner) that the debtor will perform the contract according to its bid price. ? Due to the contractor's reasons, the insurance company shall be liable for compensation if the contracted project cannot be completed at its bid price. After compensation, the insurance company can recover from the owner.

Safety production insurance

Safety production insurance is mainly divided into: industrial injury insurance, accidental injury insurance, employer liability insurance, safety production liability insurance and supplementary industrial injury insurance.

employment injury insurance

Work-related injury insurance, also known as occupational injury insurance, is a social security system that collects the work-related injury insurance premiums paid by employers and establishes a work-related injury insurance fund to provide practical medical treatment and necessary economic compensation for workers who suffer accidental injuries or occupational diseases in production and business activities, resulting in death, temporary or permanent loss of working ability.

Accident insurance of construction engineering

Accidental injury insurance for construction projects, that is, accidental injury insurance for construction projects, refers to the safety production insurance in which the relevant personnel of construction projects suffer from accidental injuries such as disability and death during the construction and inspection work in the construction area, and the insurance company is responsible for paying the medical expenses, disability deposit, death deposit and insurance liability during the insurance period.

employer's liability insurance

Employer's liability insurance refers to an insurance in which employees employed by the insured suffer from accidents or occupational diseases related to business in the course of employment, resulting in disability or death. According to the Labor Law of People's Republic of China (PRC) and the labor contract, the insured shall bear the medical expenses and economic compensation responsibilities, including the litigation expenses payable, and the insurer shall be responsible for compensation within the prescribed compensation limit.

The characteristics of employer liability insurance in most countries are: the injury and loss are borne by the employer, regardless of whether the employer is at fault; The amount of compensation is not based on actual losses, but on actual needs; Disability and death compensation is in the form of annuity, not a one-time pension; The law forces employers to insure employees against possible injuries, which will not be affected by the bankruptcy or closure of employers.

Safety production liability insurance

Safety production liability insurance, referred to as "safety liability insurance" for short, refers to the liability insurance that the insured enterprise should bear the economic compensation responsibility when there is a safety production accident due to negligence in the production and operation process, resulting in personal injury or death of employees and third parties and property losses of third parties.

Supplementary industrial injury insurance

Supplementary industrial injury insurance is a supplementary commercial insurance that is insured by employers or social security agencies on the basis of establishing social overall planning of industrial injury insurance according to the requirements of national laws and regulations, so as to further improve workers' industrial injury compensation and disperse the employment risks of employers.

Different from other commercial insurance types (construction accident insurance, employer liability insurance and safety liability insurance) in the current production safety insurance market, "supplementary industrial injury insurance" has a strong color and characteristics of industrial injury insurance protection, and can be regarded as "additional insurance" or "derivative supplementary insurance" of industrial injury insurance.

Engineering all risks

"Engineering All Risks" are mainly divided into construction all risks and installation all risks.

All risks of construction engineering

All risks of construction engineering, referred to as construction insurance, is a comprehensive insurance that integrates property loss insurance and liability insurance. All risks of construction projects cover the material losses caused by natural disasters and accidents during the whole construction period, as well as the civil liability of the insured for personal injury or property losses of a third party according to law. Third party liability insurance is usually attached.

Installation engineering all risks

All risks of installation engineering, referred to as safety insurance for short, is a sister risk of all risks of construction engineering, which is applicable to the installation of various equipment (including electrical, ventilation, water supply and drainage and equipment installation). All Risks of the installation project covers the material losses caused by natural disasters and accidents during the whole construction period, as well as the civil liability that the insured should bear for personal injury or property losses of a third party according to law. Third party liability insurance is usually attached.

Comparison between construction all risks and installation all risks;

The subject matter risk of all risks in construction projects has gradually increased since the start of construction, while the subject matter of all risks in installation projects has been stored in the site insurance company from the beginning, bearing all the risks of goods prices from the beginning, and the risks are relatively concentrated. After the installation of the machine, the risks brought by trial operation and assessment and the risk of machine damage during trial operation are quite large, which is not found in all risks of the construction project.

In general, the subject matter insured against all risks of construction projects is more likely to be damaged by natural disasters, while the subject matter insured against all risks of installation projects is mostly the installation and equipment in buildings, which is less likely to be damaged by natural disasters and more likely to be damaged by man-made accidents.

The installation project must pass the trial operation before handover. During the trial operation, any potential factors may cause losses, and the loss rate should account for more than half of the total losses during installation. Due to the concentration of risks, the all-risk insurance premium rate of the installation project during the trial operation usually accounts for one-third of the premium of the whole construction period, and the machinery and equipment used are not liable for compensation.

Professional liability insurance

Engineering professional liability insurance is an insurance subject to the compensation liability of all related construction activities (survey and design, construction, supervision, owners, etc.). ) should be borne according to law. Specifically, when the main body of related construction activities leads to quality and safety accidents due to negligence or negligent behavior, resulting in corresponding losses, the insurer shall bear corresponding liability for compensation according to the insurance contract.

Engineering professional liability insurance can be divided into survey liability insurance, design liability insurance, construction liability insurance and supervision liability insurance due to different liability subjects.

Inspection liability insurance

Survey liability insurance refers to the construction project that the insured completes the survey within the insurance period specified in the insurance list or the retrospective period, and is located in People's Republic of China (PRC) (excluding Hong Kong, Macao and Taiwan). Losses caused by engineering quality accidents due to the negligence of the insured in the survey work. During the insurance period, the construction unit applied for compensation from the insured for the first time. According to the laws of People's Republic of China (PRC), the construction unit will apply for compensation.

Design liability insurance

Design liability insurance refers to the professional liability insurance with the economic compensation liability that the designer of the construction project should bear for the losses or expenses caused by the engineering quality accident due to negligence or fault in design. It is one of the earliest occupational insurances in China.

Construction liability insurance

Construction liability insurance refers to the professional liability insurance whose subject matter is the economic compensation liability that the construction unit or individual should bear because of the negligence or dereliction of duty in the construction.

Supervision liability insurance

Supervision liability insurance is a kind of liability insurance with supervision professional liability as the insurance subject, which covers the compensation liability that the supervisor should bear according to law for the losses caused to the client or the third party relying on this service due to negligence, mistake or dereliction of duty in the process of fulfilling the supervision obligations stipulated in the supervision contract.

Construction engineering related insurance

In addition to the above types of construction projects, construction projects also involve the following related types of insurance:

Deferred completion insurance

Delayed commencement (DSU), also known as loss of profits insurance and delayed commencement, is one of the general engineering types in the field of international engineering construction. DSU insurance mainly covers the fixed expenses caused by natural disasters, accidents and other risk factors in the construction process, which in turn leads to the owner's expected profit, bank loan interest and indirect economic losses.

Liability insurance for special construction equipment

Special equipment for construction refers to the special equipment used in the construction site of construction projects, including cranes, elevators, hanging baskets for aerial work, forklifts, bulldozers, loaders and trucks.

Liability insurance for construction special equipment, also known as third party liability insurance for construction special equipment, refers to an insurance that the insured owns or uses special equipment, and the insurance company compensates the third party for personal injury or loss of interests due to the negligence and accidents of the insured.

Comprehensive insurance for construction machinery and equipment

Comprehensive insurance for construction machinery and equipment is a kind of comprehensive insurance for machinery and equipment, and its main insurance liability is similar to comprehensive insurance for property. Additional risks include employer liability insurance, third party liability insurance, collision and overturning insurance, spontaneous combustion insurance and theft insurance.

Meet the main risk factors faced by construction machinery and equipment within the scope of insurance liability. In particular, the subject matter of insurance is not limited to "special equipment" like other types of insurance; Its insurance scope is not only limited to the compensation for the loss of machinery itself or the loss of third party liability, but also includes comprehensive insurance for construction machinery and equipment.

Environmental pollution liability insurance

Environmental pollution liability insurance is an insurance subject to the liability of compensation for the damage caused by pollution accidents to third parties.

cargo transportation insurance

Cargo transportation insurance takes the goods in transit as the subject matter of insurance, and the insurer is responsible for the loss of goods caused by natural disasters and accidents. According to the mode of transportation, it can be divided into direct cargo transportation insurance, combined cargo transportation insurance and container transportation insurance. According to the mode of transportation, it can be divided into water cargo transportation insurance, land cargo transportation insurance and air cargo transportation insurance.

property management liability insurance

Property management liability insurance (property management liability insurance) means that insurance companies collect insurance premiums from property management enterprises, and bear the economic compensation responsibilities that property management enterprises should bear according to law for personal injuries or property losses caused by negligence or negligence in management or operation. Property management liability insurance is divided into two parts: basic insurance and additional insurance. Additional risks usually include swimming place additional risks, parking lot additional risks and elevator additional risks.

Catastrophe insurance

Catastrophe insurance refers to the insurance that the insurer compensates for huge property losses and heavy casualties caused by natural disasters such as earthquakes, hurricanes, tsunamis and floods.

In terms of insurance attributes, engineering insurance belongs to the category of property insurance. However, because engineering insurance is aimed at modern engineering with the characteristics of large scale, complex technology, high cost and long risk period, its risks are essentially different from ordinary property insurance. Therefore, engineering insurance is to design a targeted risk protection scheme on the basis of traditional property insurance, and gradually develop its own independent system.