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Compulsory Insurance Professional Indemnity for Design and Construction in Bulgaria

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Compulsory Insurance Professional Indemnity for Design and Construction in Bulgaria

The Insurance Professional Indemnity for Design and Construction is compulsory under the Spatial Development Act and the Ordinance on the conditions and order for effecting a compulsory insurance in the field of design and construction, which is in force since 06.03.2004.

All persons practicing one of the following professions are obliged to conclude the insurance policy:

  • the designer - for drawing up investment projects
  • the builder - for the overall execution of the building works or of different types of building and installation works
  • the consultant - for assessing the compliance of the investment projects with the essential
  • requirements for buildings and/or for carrying out building supervision
  • the person carrying out building supervision with regard to buildings from fifth category
  • the person carrying out technical supervision of the Construction part of the investment projects, for which no conformity assessment has been made by a Consultant.

Risks covered
The insurance covers liabilities in case of a compensation claim from a third party injured as a result of illegal actions and/or inaction on the part of the Policyholder while practicing their profession. The Insurer indemnifies both material damages (full or partial damage of movable and non-movable objects) and immaterial damages (death or bodily injuries suffered by natural persons) which occurred during the period of the insurance policy. When the claim is laid through the court the indemnity also includes the legal expenses if the Insurer took part in the trial.
The insurance cover includes not only the period of the insurance policy (which usually is 1 year) but also damages from action or inaction on the part of the Policyholder caused before the conclusion of the policy. For that purpose the Policyholder declares the date on which they started their professional work as a designer, builder, etc. This date is set as the retroactive date under the policy and it can span a period of 5 years before the starting date of the insurance policy.

The minimal limits of liability for every participant in the design and construction process are set as per construction categories and are written in the Ordinance.

 

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