French Decennial Liability Insurance: In France, decennial liability insurance, known as “assurance décennale,” is a mandatory insurance that covers construction professionals for a period of ten years following the completion of a construction project. This insurance is required by law and aims to protect against structural defects that may compromise the safety or stability of a building. The policy wording in French decennial liability insurance typically includes specific provisions related to the scope of coverage, exclusions, claim procedures, and the responsibilities of the insured party.
One key aspect of French decennial liability insurance is that it is tied to the specific construction project rather than the individual professional. This means that any party involved in the construction process, such as architects, engineers, contractors, and subcontractors, must have their own decennial liability insurance for the project. The policy wording in French insurance contracts often outlines the obligations of each party involved in the construction process and specifies the coverage limits and conditions.
German Decennial Liability Insurance: In Germany, decennial liability insurance, known as “Bauherrenhaftpflichtversicherung,” also provides coverage for construction defects but operates under a different legal framework compared to France. Unlike in France where decennial liability insurance is mandatory, in Germany it is not a legal requirement but rather a common practice among construction professionals to protect against potential liabilities arising from construction projects.
The policy wording in German decennial liability insurance contracts may vary depending on the insurer and the specific terms negotiated between the parties involved. However, similar to French decennial liability insurance, German policies typically cover structural defects that pose a risk to the stability or safety of a building for a period of ten years after completion. The policy wording may include provisions related to coverage limits, exclusions, claim procedures, and other relevant terms.
Differences in Policy Wordings: One notable difference between French and German decennial liability insurance policy wordings lies in the legal context within which these insurances operate. While French decennial liability insurance is mandated by law and has standardized provisions that must be included in all policies, German decennial liability insurance operates within a more flexible legal framework where policy terms can be subject to negotiation between parties.
Additionally, the scope of coverage and specific requirements outlined in the policy wordings may differ between French and German decennial liability insurances due to variations in legal systems, construction practices, and industry standards in each country.
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