OREANDA-NEWS. October 26, 2011. ROSNO’s North-Western Directorate has concluded an insurance contract covering the construction and assembly works related to construction of a 17-storey residential building in Balashikha, The Moscow Region. The insurance amount is 1,100,000,000 roubles, reported the press-centre of ROSNO.

The 17-storey 2-section residential building with a total space of 45,723 sq.m., erected with a ferroconcrete frame in Saltykovka microdistrict, will house 568 apartments. Insurance protection applies to construction and assembly works and costs associated with area cleanup and debris utilization.

The insurance coverage includes protection against the following risks: fire; explosion, lightning stroke; aircraft impact; natural disasters; soil subsidence and underground water flooding; unlawful third-party actions; burglary, robbery or brigandage; breakdown of plumbing systems, installation errors; loss of and/or damage to the property (work result) due to delivery and installation of defective materials, structures and/or equipment; collapse of, or damage to the insured object, including the same by collapsing or falling elements; other sudden and unforeseen events in the insured area.

Also, the contract covers the general contractor’s civil liability for damaging property, life and health of third parties in the course of construction and assembly works. The contract will remain effective till the end of the construction process.