Optima Insurance Brokers Pvt. Ltd.

Industry Focus

Construction

The construction industry is blooming across the globe, and India is no exception! In India, construction is the second largest economic activity after agriculture. Construction accounts for nearly 65 per cent of the total investment in infrastructure and is expected to be the biggest beneficiary of the surge in infrastructure investment over the next five years. Investment in construction accounts for nearly 11 per cent of India’s Gross Domestic Product (GDP). €239.68 billion is likely to be invested in the infrastructure sector over the next five to 10 years.

Overview

The construction industry faces multiple challenges and risks ― probably much higher than any other industry.

From technical risks such as incomplete designs, inadequate site investigations, availability of suitable material, appropriateness of specifications to logistical risks (lack of transportation facilities & good resources); the construction industry is plagued by risks across each stage of a project’s development. Project delays, inflation, local taxes pose serious threats to the industry and can have severe financial consequences. Changing political systems and policies hamper the course of progress. Customs and import restrictions and procedures and difficulties in disposing of plant and equipment can be operational hazards.

A high incidence of occupational ill health can have a devastating effect on individuals, families and employers (who may face fines and prosecution).

Construction insurance is imperative if you own, run or manage a construction or building site, or work as a contractor within the construction industry. If you are an employer, it provides safeguards should any of your employees be injured while working on site. Construction insurance can also cover materials and machinery in the event of theft, or damage.

Optima Edge:

The complex risk management challenges facing the construction industry require specialization. Optima’s expertise includes risk identification, analysis and assessment, risk control with innovative insurance solutions ranging from captive insurance and credit enhancement to environmental risk transfer. Our unique approach not only helps prevent incidents and losses but also ensures that the right financial protection is in place when the worst happens.



Case Studies

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Optima’s core group has more than 100 man-years of experience in insurance. Our experience has trained us in reading the fine print of insurance policies, understanding it and applying it for the benefit of our clients.

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M6, M Block Market, Greater Kailash-II, New Delhi-110 048
+91-11-40 50 51 52, +91-11-40 50 51 53

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+91-11-40505159
info@optima.co.in

IRDA Registration Number 326  |  CIN : U66030DL2000PTC103603  |  Category : Direct Broker (Life and Non-Life)  |  License period : 22-03-2018 to 21-03-2021
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