This insurance provides comprehensive financial protection for everyone involved in the project, including the project owner, contractor, architect, engineer and developer. It covers all parties on the construction site, including contractors, subcontractors, tradespeople and the project owner, throughout the construction period.

Architects, contractors, engineers, design firms and property developers are legally required to provide two-year and ten-year warranties under the Civil Code. But what happens if defects arise and the responsible party is unable to meet their obligations or becomes insolvent?