Discover the solutions we have implemented for our clients.
Our client is a property developer based in Barcelona, specialising in high-quality residential projects. With more than 25 years of experience, it develops projects throughout Spain, always in collaboration with top-tier construction companies and with bank financing. In 2023, it began construction of a complex of single-family homes in Catalonia, with a budget of over €10 million. In this project, taking out civil works insurance was essential to guarantee financing and meet deadlines.
During the planning phase, the client faced several challenges that jeopardised the start of construction. The bank required the purchase of compulsory ten-year insurance for developers, with technical control (OCT) from the start of construction, as an essential requirement for the disbursement of the loan. At the same time, it was necessary to have comprehensive construction insurance (TRC) that offered coverage against weather events, theft on site, damage to machinery and possible execution errors. In addition, the developer had to have construction civil liability insurance to cover possible damage to third parties, which is particularly important in large-scale residential projects. These risks in a construction project, combined with tight deadlines, could cause delays and affect overall planning if not managed in time.
At Ambler, we design a tailor-made insurance plan to meet all these needs. We coordinate the inspection from the outset with an approved technical control body and manage the issuance of the ten-year insurance policy with a specialist insurer, in compliance with the bank’s requirements. At the same time, we draw up a comprehensive construction insurance policy with extensive coverage against material damage, theft, weather events and civil liability arising from the execution of the work. To reinforce security, we also add civil liability insurance for the developer, protecting against damage to third parties during the construction and delivery phases. In addition, our team took care of all the documentation required by the financial institution and offered ongoing advice, providing the client with a comprehensive solution in line with the insurance needs of construction companies. Thanks to this approach, the client was able to obtain a comprehensive insurance solution for real estate projects in Barcelona, covering both legal and financial requirements.
Thanks to this strategy, the client was able to start the work without delays, meeting the deadlines set by the bank and securing financing for the project. All phases of construction were protected by comprehensive coverage, which provided security against common incidents on construction sites, such as theft, weather events, or execution errors. Furthermore, negotiations with several insurers resulted in competitive premiums, achieving savings of 21% compared to the initial offers. With the OCT ten-year insurance policy correctly formalised, the developer ensured compliance with regulations and legal peace of mind from the outset, while Ambler’s ongoing support provided confidence and backing throughout the execution.