DUTY OF FAIR PRESENTATION

Transcription

1 DEVELOPERS SHORT FORM PROJECT INSURANCE PROPOSAL FORM

2 DUTY OF FAIR PRESENTATION The purpose of this Proposal Form is to assist the Proposer in providing all material information to Insurers for the purposes of quoting and accepting the risk to which the Proposal Form pertains. It is your duty to make a fair presentation of the risk and to disclose all material circumstances which the Proposer knows or ought to know. A material circumstance is one which would influence the judgment of a prudent insurer in determining whether or not to accept a risk, and upon what terms. The Proposer ought to know of all circumstances which should reasonably have been revealed by a reasonable search of information available to the Proposer. Failure to comply with this duty may give the insurer the right to void the policy from its inception, or to impose different terms, or to reduce the amount paid on any claim. The individuals whose knowledge in connection with the risks to be insured is relevant for the purposes of the duty of fair presentation shall be referred to as Responsible Individuals. The Proposer is required to identify the Responsible Individuals as per the below table. The Proposer is also required to identify the scope of the search for information available to the Proposer which it proposes to undertake ( the Scope ) as stated below. For further information about the duty of fair presentation, please refer to section 4 of our Business Protocols, entitled Duty of Disclosure. RESPONSIBLE INDIVIDUALS AND SCOPE OF SEARCH Please list the Responsible Individuals for the purposes of the Insured s duty of fair presentation: If the Insured is an individual, please list the individuals responsible for arranging his or her insurance. If the Insured is not an individual, please list the individual members of the Insured s senior management with knowledge of matters relevant to the Insured s insurance, and individuals responsible for arranging the Insured s insurance. Name (Principal) Address Position/Role Please provide a brief outline of the methodology employed to obtain the data in this proposal (the Scope ) in order to provide a fair presentation to insurers, both internally and with third parties i.e. your insurance broker(s). (Examples may include an outline of the pre-renewal internal claims checks and/or the consultation of various heads of business units and the scope of the information that they may provide). DUTY OF FAIR PRESENTATION 2

3 Please fill in all fields below, crossing out yes or no where appropriate. If typing answers in word please use a different colour / font. 1 PROJECT NAME: 2 PRINCIPAL INSURED (EMPLOYER/OWNER): 3 REGISTERED ADDRESS: 4 MAIN CONTRACTOR: 5 NAMES OF KEY TRADE CONTRACTORS AND/OR SUB CONTRACTORS: Name Role 6 ESTIMATED TOTAL CONSTRUCTION CONTRACT VALUE (SUM INSURED): (please provide a breakdown on a separate page) GBP: Does the total above include professional fees? Yes No If not should we apply a specific percentage to the total? Yes No Specific percentage to add % 7 CONSTRUCTION PERIOD & DEFECTS LIABILITY PERIOD: Start Date: End Date: Practical Completion): Defects Liability Period:... 8 SITE LOCATION (INCLUDING POSTCODE): DUTY OF FAIR PRESENTATION 3

4 9 SUMMARISED DESCRIPTION OF THE WORKS: 10 DETAILS OF ANY ANTICIPATED HANDOVERS (please note construction insurers will deem works handed over as off risk): Description of Works to be handed over Date of handover Value to be handed over 11 IS TERRORISM "BUY-BACK" COVER REQUIRED BY CONTRACT? Yes No 12 DESCRIPTION OF ANY EXISTING STRUCTURES THAT ARE TO BE INSURED ON A FIRST PARTY BASIS (PLEASE USE SEPARATE SHEET IF NECESSARY) (PLEASE PROVIDE A RECENT CONDITION SURVEY): Reinstatement value Age Condition Listed Status Occupied as 13 IS COVER FOR CONSTRUCTIONAL PLANT AND EQUIPMENT, TEMPORARY BUILDINGS AND CONTENTS OWNED BY OR THE RESPONSIBILITY OF THE PRINCIPAL REQUIRED? Yes No If "YES" please confirm: Value of owned Constructional Plant and Equipment, Temporary Buildings and Contents Estimated fees paid to hire-in Constructional Plant and Equipment, Temporary Buildings for the duration of the Project DUTY OF FAIR PRESENTATION 4

5 14 PLEASE ADVISE FORM OF CONSTRUCTION CONTRACT BEING USED: Please provide contract amendments and contract particulars 15 IS DELAY IN START-UP INSURANCE REQUIRED?? Yes No If YES, please supply the following and a breakdown/split: Type (Advance Loss of Profit / Revenue/Rental): Sum Insured required: Indemnity Period required: Is there a rent free period? months 16 IS THIRD PARTY LIABILITY INSURANCE REQUIRED? Yes No If "YES", what Limit of Indemnity is required? If "YES", please supply details of surrounding Third Party property (please use a separate sheet of paper) 17 IS NON NEGLIGENT INDEMNITY INSURANCE (JCT 6.5.1) REQUIRED? Yes No If "YES", what Limit of Indemnity is required? If "YES", please supply details of excavations and/or underpinning (please use a separate sheet of paper) 18 WILL THE WORK INVOLVE DEMOLITION? Yes No If "YES", please supply details of surrounding Third Party property (please use a separate sheet of paper) IF SO WILL YOU BE USING EXPLOSIVES? Yes No If "YES" please provide full details (please use a separate sheet of paper 19 WILL THE WORK INVOLVE PILING? Yes No If "YES" please provide full details (please use a separate sheet of paper) 20 WILL THE WORK INVOLVE HOT WORKS? Yes No If "YES" please provide full details (please use a separate sheet of paper) 21 IS TIMBER FRAMED CONSTRUCTION INVOLVED? Yes No If "YES", please provide full details (please use a separate sheet of paper) DUTY OF FAIR PRESENTATION 5

6 22 DETAILS OF SECURITY ON SITE Will the site be patrolled by security guards? Yes No Will patrols operate 24 hours a day? Yes No What other security precautions are being taken? 23 PREFERRED CHOICE OF LOSS ADJUSTER CHOOSE AN ITEM. If other, please state: Completed by: Name: Signature: Company: Date: Please also provide the following information: Method statement and/or Contractors proposal and/or Design Report Construction / Project Programme (bar chart) Construction contract value breakdown (i.e. design, earthmoving, foundations, preliminaries, etc.) (Q.5) Anticipated Revenue breakdown (Q.14) Overall picture and plan of current existing site, overall proposed site plan, Plans (only a few high level one s) / Elevations / Drawings of the building(s) Construction Contract & amendments (Q.13) Details of any parties to be named as joint insured (i.e. Lenders) Flood Risk Assessment (if relevant / available) Ground Investigation Report (if relevant / available) DUTY OF FAIR PRESENTATION 6

7 CONTACT Sam Hiller Associate JLT Specialty Limited The St Botolph Building 138 Houndsditch London EC3A 7AW Tel +44 (0) Fax +44 (0) Lloyd s Broker. Authorised and regulated by the Financial Conduct Authority. A member of the Jardine Lloyd Thompson Group. Registered Office: The St Botolph Building, 138 Houndsditch, London EC3A 7AW. Registered in England No VAT No Copyright July