Customized Construction Insurance Plans

Construction and infrastructure are fundamental to the development of our society. Without infrastructure, we would be left without a community. No single product is identical; as such, we can provide you with more comprehensive protection by creating a customized coverage solution that meets your unique needs.

Since January 2016, Kono Insurance has been a wholly-owned subsidiary of Zurich, bringing together the expertise in underwriting discipline, claim competence and a robust range of insurance propositions. Kono is a separate legal entity from Zurich, and is therefore responsible for the policy obligations of these insurance solutions.

Product	Features
Contractors' All Risks	The combined coverage falls under two primary sections – Material Damage and Liability to Third Party. Material Damage provides cover against accidental loss or damage to property during construction, renovation and/or maintenance. Liability to Third Party provides cover against your and subcontractors’ legal liability to third party arising out of the performance of construction project.
Contractors' Liability	This insurance provides cover against third party liability arising from accidents and mishaps while carrying out the contract works. Our coverage is extended to include your legal liability to specified parties involved in the performance of the contract.
Professional Indemnity (Project of Contract Works)	This product protects your business against legal liability to third party arising out of the breach of professional duty in performing professional services, including damages and the relevant legal costs.
Third Party Liability (Engineering Risks)	An accident during contract works at a construction and/or renovation site can potentially give rise to your legal liability to neighboring third parties. This plan covers third party liability in performing the contract.
Employees’ Compensation	It is a statutory requirement for employers to provide compensation for work-related accidents and/or specified occupational disease suffered by employees. This insurance provides cover for the employers against their liability under both Employees’ Compensation Ordinance (Cap. 282) and common law in respect of accidental bodily injury and/or occupational diseased sustained by any employees arising out of and in the course of employment.
Performance Bond	Binding by a construction contract, if a contractor is in default, it will be obliged to keep the counterparty or owner indemnified up to the agreed amount. A performance bond is required by the project owner after a project has been awarded to the contractor. Performance bond provides the counterparty or owner with surety’s guarantee according to the conditions of bond document for the due performance of the contract by the contractor.
Contractors’ Plant & Machinery	This provides cover for accidental physical loss of or damage to the plant, machinery and equipment placed at storage and/or the construction site.
In addition to the construction insurance plans above, Kono also offers other protection solutions such as: Building Owners’ Corporation Third Party Liability, Erection All Risks and Office Comprehensive.