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Industry Practice · Construction & property

Real Estate & Developers

Insurance for real estate developers and property holders, under-construction risk, completed property, defects liability and developer-PI.

Under-construction project riskDefects liability & RERA exposureDeveloper professional indemnity
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The sector

Different policies for different stages of the same building's life.

Real estate developers carry CAR/EAR exposure during construction, then transition into completed-property cover at handover, with overlapping defects-liability and RERA-driven obligations. Developer professional indemnity is rising in claim activity as RERA enforcement creates documented claim pathways.

Risk profile

Where the exposure lives.

Developers face works, latent-defect, liability and completed-asset risk across a project's life. These four first.

01
Under-construction project risk
Fire, collapse, storm and theft during construction, covered by CAR/EAR aligned with the project structure.
02
Defects liability & RERA exposure
Post-handover defect claims under RERA, increasingly documented as buyers use RERA enforcement.
03
Developer professional indemnity
Design, planning and project-management decisions creating long-tail claims from buyers and lenders.
04
Completed-property loss
Post-handover unsold inventory or developer-retained property carries standard fire and natural-peril exposure.
Recommended cover

The programme we typically place.

Each cover below is a link to the policy page. The combination, the limits and the wording are what we negotiate on your behalf.

01
Contractor's All Risk
CAR/EAR cover sized to the project value, scope and contract structure.
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02
Fire & Burglary
Completed-property cover for unsold inventory and developer-retained common-area assets.
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03
Public Liability
Project and developer liability with adjacent-property and buyer-claim extensions.
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04
Workmen Compensation
EC Act cover for site labour including sub-contractor employees on principal-employer basis.
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Claim reality

What a claim tends to look like here.

Across a project the claims range from works damage during construction to liability claims after handover, plus asset risk on completed, unsold units. The exposure shifts as the project moves from site to sale.

Questions

Questions we get in this sector.

During construction, a CAR policy covers the works; after completion, the risk moves to property and liability cover on the standing asset. We ensure the handover between the two policies is seamless.
Certain post-completion liabilities can be covered, and some contracts require a defects-liability arrangement. We confirm what your contracts and buyers require and place accordingly.
No. Work in progress is covered by contractors' all risk until handover, and the property policy begins when the completed building is occupied. Developers occasionally hold neither during the transition.
It creates obligations around completion and quality that make the project cover and the contractual position with contractors more important, and buyers and lenders increasingly ask to see the policies. It does not replace any of the covers.
The contractor primarily, and the developer as principal employer where the contractor has not met the obligation. Verifying that each contractor genuinely holds workmen's compensation cover is worth more than the contract clause requiring it.

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