Decennial insurance: critical protection for builders
Decennial insurance is required for all construction companies and Stelliant Loss Adjusting guides insurers in this area. Since the Spinetta law was enacted in 1978, construction companies are required to protect themselves against construction-related risks. Decennial insurance provides this civil liability coverage for builders that is required by project owners…
Decennial insurance is required for all construction companies and Stelliant Loss Adjusting guides insurers in this area. Since the Spinetta law was enacted in 1978, construction companies are required to protect themselves against construction-related risks. Decennial insurance provides this civil liability coverage for builders that is required by project owners (whether individuals or professionals) for a period of 10 years after the project is delivered.
Losses covered by decennial insurance
Decennial Liability covers any damage that makes the construction project unsuitable for its intended purpose or affects its solidity, after construction or major work like replacing the roof on a house, for example.
Whether in a detached home or a multi-unit residence, the most common claims involve interior flooring, foundations, frames, beams and posts, roofing and water systems.
Decennial insurance does not cover purely aesthetic damage, damage due to inclement weather, building operation or construction delays.
Stelliant’s Decennial Liability loss adjusting
As soon as it is contacted by a Decennial Liability insurer, Stelliant Loss Adjusting deploys a Construction expert, specially trained for this type of insurance in Stelliant Campus, to the site. The loss adjustment is thorough, examining the damage, identifying the cause and determining whether it is covered by decennial liability insurance.
The recommended repair work is then adjusted based on the type of building: detached or multi-unit.
The Construction loss adjuster’s final task is identifying liabilities when more than one company is involved in the claim. Various trade insurers are then implicated.
A multi-specialist approach for decennial insurance claims
With 250 loss adjusters specialising in Construction (including 200 with CRAC certification), with in-house training or significant experience in the industry, Stelliant Loss Adjusting also has real legal expertise to draw on, with a perfect understanding of all the workings of the construction industry.
Specialist advisors (wood, concrete, thermal, electricity, etc.) are also available for the loss adjusters to provide their diagnosis and suggest the most appropriate repair solutions. With its subsidiary Géosynthèse, Stelliant is able to respond to any geotechnical and superstructure problems, as well as other construction problems such as those related to acoustics and surfacing. Its qualified engineers are able to perform geomechanical, geotechnical and hydrogeological analysis.
The most complex cases can require extensive technical investigations to supplement the loss adjuster’s analysis. Stelliant After Loss Solutions offers a full line of services to diagnose decennial damage. In addition, the Stelliant Group can call on its subsidiary Qantex, a construction economists group that also works on claims related to decennial liability.