Recently voted as the preferred wording by Brokers for Annual Projects at the latest Brokers on Underwriting Agencies Survey 2016.

MECON’s Annual Projects policy combines both Material Damage and Public Liability. We offer the flexibility of policies which can operate on a:

  • turnover (transfer)

  • run-off (contracts commencing) or

  • individual declaration (pay as you go)

We insure simple or complex projects whether they are owner-builder, residential, commercial, civil or mechanical.

The policy contains an automatic limit for:

  • Expediting expenses
  • Leak search and locate costs
  • Mitigation costs
  • Professional fees
  • Removal of debris
  • Variations and escalation

The policy automatically includes:

  • Care, custody or control (including Vehicles and mobile plant up to $100,000)
  • Contractual Liability
  • Off-site storage and transit (to the full sum insured)
  • Products liability (including cover for previously completed projects)
  • Resultant damage from faulty design, workmanship and materials (DE4)
  • Vibration weakening or the removal of support
  • Waiver of subrogation rights
  • 90 days cover post practical completion
  • 96 hours event clause

The policy can also be extended to include:

  • Accidental asbestos exposure ($1 million)
  • Claim preparation costs
  • Contract of sale extension
  • Contractors Pollution Liability
  • Consequential loss
  • Contractors plant and equipment including hired-in plant (24 months “new for old” cover)
  • Cover advantage
  • Difference in conditions
  • Display homes
  • Earthworks Advantage
  • Existing structures
  • Financiers interests
  • Liquidated damages (for residential builders)
  • Overseas risks (supporting business domiciled in Australia)
  • Partially completed projects
  • Professional indemnity
  • Property in care custody or control
  • Principal supplied materials
  • Testing and commissioning