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Professional Indemnity for Design and Construction - insurance of a specific building site (as per art. 173 of the Spatial Development Act) in Bulgaria

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Professional Indemnity for Design and Construction - insurance of a specific building site (as per art. 173 of the Spatial Development Act) in Bulgaria

 The Professional Indemnity for Design and Construction - insurance of a specific building site as per art. 173 par.2 of the Spatial Development Act can be concluded by every person practicing one or a few of the following activities:

  • design of investment sites;
  • assessment of the compliance of the investment projects with the essential; requirements for buildings;
  • building supervision;
  • overall execution of buildings or of separate building and installation works;
  • technical supervision of the Construction part of the investment projects;
  • other activities connected to the design and construction of buildings.

Usually the Assignor of a building project requires from the designer, the main executor (the builder) and/or the other persons participating in the execution of the project to present an insurance policy covering their liability with regard to that building project, by making specific requirements with regard to the scope of the insurance cover and liability limits.

Risks covered
The insurance covers damages suffered from the Assignor and/or third parties as a result of the Policyholder’s neglect of their obligations under the law and under the agreement for construction of the building project specified in the insurance policy. It covers claims laid against the Policyholder for the first time in writing during the period of the insurance policy.

The insurance of a specific building project allows higher liability limits to be agreed on than those specified by law, the liability of the subcontractors of the Policyholder to also be covered, as well as the cover of damages that occurred in the period of exploitation of the building project during its warranty period.

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