Photovoltaic insurance - Assembly/Installation

Piraeus Insurance against all risks of photovoltaic units at the assembly/installation stage covers damages from any cause during the assembly or installation of photovoltaic systems or photovoltaic installations

Up to 6 months with the possibility of extending coverage

One-off

ERGO Insurance

Covered causes are indicatively:

• Fire
• Mountain
• Flood
• Flooding
• Settlement
• Storm

And covers for:

• Material damage to the project itself
• Defective liability towards third parties from any cause
• Employer liability

Indicative table

Coverage	Notes
Strikes, riots, civil unrest
Acts of terrorism	Maximum limit of liability for compensation 25% of the value of the contractual works per event causing damage and cumulatively for the entire duration of the works
Cross liability (cross liability)
Extensive maintenance	2 months
Guarantee for construction in earthquake-prone areas
Coverage of trial operation of machinery and installations	2 weeks
Construction materials	10 days
Construction sites, equipment, machinery
Coverage of incorrect design	Concerns only new Civil Engineering works
Manufacturer's risk cover	Electromechanical equipment only
Fire protection measures	Maximum value per storage unit 15% of the value of the contractual work
Construction camps and warehouses	Limit of indemnity per incident 15% of the value of the contractual work for site camps or for each independent storage unit
Underground wiring, piping, installations and networks
Exclusion of harvests, forests, crops and antiquities
Safety measures for flooding and flooding

Third party civil liability
All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage covers you for any amount you have to pay as compensation if you are legally liable for third-party bodily injury or loss/damage to third-party property due to an accident relating to the assembly of the system.

Employer liability
All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage covers you for civil liability against your salaried employees, in accordance with Articles 657, 658 & 932 of the Greek Civil Code. Employer liability may arise from an occupational accident during the performance of works on the project or the work itself which is due to your negligence, excluding any other public body.

Third party civil liability

All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage covers you for any amount you have to pay as compensation if you are legally liable for third-party bodily injury or loss/damage to third-party property due to an accident relating to the assembly of the system.

Employer liability

All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage covers you for civil liability against your salaried employees, in accordance with Articles 657, 658 & 932 of the Greek Civil Code. Employer liability may arise from an occupational accident during the performance of works on the project or the work itself, which is due to your negligence, excluding any other public body.

Material damage to the project itself

• Damage due to earthquake - 2% of the insured capital
• Damage due to natural disasters (other than earthquake), fire, water in general, subsidence, collapse, landslide, short circuit, strikes, riots, civil commotion, civil commotion, acts of terrorism, machinery and plant test run cover, faulty design cover and Manufacturer's Risk Cover - €3,500
• Damage from other causes - €1,500
• Damage from theft outside guarded premises - 10% of the damage with a minimum of €3,500 per damaging event
• Damage from theft inside guarded premises - €1,500 per damaging event

 

Damage liability towards third parties from any cause

• Special term 208 - 10% of the damage, with a minimum of €600 per damaging event
• Other property damage - €700 per damaging event

 

Employer's liability

Exemption of the first 3 working days from the date of the accident

From €230

Specified: the project must not have started before the insurance begins.

Fire Protection Measures
Covers only if all fire suppression measures are in place before the start of the test period.

Taking precautions to prevent accidents
Covers only if you take the necessary precautions to prevent accidents or damage and comply with laws and regulations related to the safety of the public and of the workers and personnel engaged in any way on the project.

Storage of materials or tools
Theft coverage for materials or tools is provided that the materials or tools are stored during non-working hours within a closed locked area.

Existence of a prior liability policy
If there is an assembly liability policy in force on the project you have undertaken as a contractor or subcontractor, this policy will be triggered first, and after the limits have been exhausted, the other policy will be triggered in excess.

It does not cover:

• Any loss or damage due to the use of explosives.
• Any damage before the final acceptance of the risk by the insurance company.
• Any damage due to demolition or dismantling works.
• Any loss or damage to all types of gardens, vegetation, plants and tree plantings.
• Any loss or damage due to the professional liability of designers, engineering consultants, architects, etc.
• Any loss or damage to any property, land or building, or bodily injury to third parties caused directly or indirectly by vibration, movement or weakening of the load-bearing structure of the adjacent building. All other damage to adjoining property is covered.
• Any actual or constructive liability for damage or loss resulting directly or indirectly from mixing in any way with asbestos or with materials containing asbestos in any form or quantity.
• Loss or damage from contamination or pollution of air, water and soil.

Terrorist act insurance

The terrorist act insurance is subject to the discretion of the insurance company. The coverage may be interrupted at any time with a 7-day notice and without the existence of any condition.

 

VAT insurance

 In accordance with paragraphs 1 and 3 of Article 15 of Law 2836/2000, the obligation for VAT settlement in the event of insurance company payout does not apply for businesses when it is due to destruction, loss or theft of their assets. Therefore, VAT is not insured for businesses with a right to settlement.

The société anonyme under the corporate name "Piraeus Financial Holdings SA" (4 Amerikis, P.C. 105 64 Athens, Greece, with G.E.MI. (General Commercial Registry) No. 225501000, VAT No. 094014298 Athens Tax Office for Corporations (KE.FO.D.E. ATTIKHS)), registered as an insurance agent at the Athens Chamber of Tradesmen with special registration number 1031, carries out the activity of distribution of insurance products, in the name and on behalf of the insurance companies with which it maintains cooperation, using the network and the certified employees of Piraeus Bank.