Is there compulsory insurance for all construction projects now? What kind of insurance are they?

Construction projects generally have compulsory insurance, including but not limited to: all risks of construction projects (additional third party liability insurance), all risks of installation projects (additional third party liability insurance), social insurance (such as personal accident insurance, owner liability insurance and other compulsory insurance stipulated by national laws and regulations), motor vehicle insurance, occupational liability insurance, etc.

Among them, all risks of construction project and all risks of installation project are to provide comprehensive insurance for all risks in the process of project implementation, that is, to compensate for the losses suffered by the project itself, engineering equipment, construction machinery and appliances in the process of installation and construction, and at the same time to bear responsibility for personal injuries and material losses caused to third parties by construction.

Giving full play to the role of insurance is reflected in claims settlement. Claim settlement refers to the compensation treatment of insurance, which is the concrete embodiment of the insured's right to insurance and the insurer's performance of underwriting responsibility. Claim is an important embodiment of insurance, because it can make economic compensation for disaster losses, which is conducive to restoring production and stabilizing life. Claim settlement is the basis of strengthening disaster prevention measures, because in the process of claim settlement, we can also find problems and sum up experiences and lessons as a reference for future disaster prevention and loss prevention.

The Insurance Law of People's Republic of China (PRC) (hereinafter referred to as the Insurance Law) divides the types of insurance into life insurance and property insurance.

Since the implementation of this law, in terms of engineering construction, China has tried accident insurance in personal insurance and all risks in construction and installation in property insurance. Paragraph 2 of Article 95 of the Insurance Law stipulates: "Property insurance business includes property loss insurance, liability insurance, credit insurance, guarantee insurance and other insurance businesses."

The above contents refer to Baidu Encyclopedia-Engineering Construction Insurance.