“We get to know our clients’ needs; we do not bully in and then move out, we build long-lasting relationships that are meaningful,” explains Carstensen.
“We aim to provide our clients with expert personal service in all aspects of short-term insurance.” The company covers a number of sectors including construction and engineering, commercial and industrial, marine cargo, hull and small craft, credit, personal, political risk, construction guarantee and specialist niche products.
The company has in-depth knowledge and experience of the construction and engineering industry and has special products that are tailor-made for companies involved in this sector.
Carstensen tells Engineering News more about Helgran’s construction and engineering insurance, its political risk cover and its construction guarantee offerings.
“The construction and engineering industry has a vast amount of professional needs and our policies attempt to cover all requirements within the industry.” There are a number of policies available to clients under construction and engineering insurance, including policies that look at contract works, which provide cover for principals, contractors and subcontractors against physical loss or damage during the construction phase. The policy also protects the client in the event of injury or damage to third-party persons or property.
The plant all-risk policy, meanwhile, covers construction, mining and other mobile and nonmobile plant and machinery against loss or damage, on site or in transit, while the machinery breakdown cover caters for sudden physical damage to installed machinery. The company also offers policies that cover loss of profit; deterioration of stock; and dismantling, transit and erection.
In terms of the company’s construction guarantees, Carstensen explains that, in legal terms, it puts the company in the position of coprincipal debtor with the contractor, adding to the peace of mind of the beneficiaries of the guarantee.
The Construction Guarantee division offers five guarantees – bid and tender bonds, advance pay guarantees, performance guar- antees, retention guarantees and guarantees and bonds for temporary imports.
In engineering and construction insurance, Helgran also offers professional indemnity, which is designed to indemnify the client against legal liability to pay compensation for damages arising directly out of an act, error or omission in the performance of their professional duties in the course of their business.
The political risk cover is especially significant to the construction, engineering and mining sectors, where work is taking place throughout Africa.
Carstensen explains that political risk is generally defined as being those conditions or events brought about in circumstances outside of one’s control, directly or indirectly by the actions or inactions of governments, home or foreign, which give rise to financial or physical loss or damage.
The company offers political risk, cover for corporate foreign assets, projects, investments and joint ventures; export trade finance; exports or imports; and contractors and operators in foreign countries.
With regard to political risk, Helgran works with international insurers, ensuring that its clients have the support and cover they require to run projects smoothly and successfully.
“We know the insurance game and, with years of experience, we are here to make sense of our clients’ insurance for them, giving personalised, professional service and advice.
“We see ourselves as a one- stop insurance solutions provider, where we can cover all of our clients’ insurance needs.” He adds that, in order to be successful and competitive, the company has to offer the right product at the right price. “This is achieved by way of solid relationships with our AAA insurers whom we work with. “The end-consumer is looking for the right service at the lowest cost and we have to find this balance in order to stay at the top of our game.”