Single project policy (France, PUC)

On a classic construction project, the owner buys building damage insurance, and each builder, architect, contractors, engineering firm, is covered by its own ten-year liability policy, with different insurers. When a loss occurs, the building damage insurer prefunds the repair, then seeks recourse against the insurers of the liable builders, which generates years of discussion over the allocation of liability. The single project policy removes this complexity. For a specific operation, a single contract covers both building damage and the ten-year liability of all parties, who are exempt from declaring the site to their own insurer. There is no longer recourse between insurers, since there is only one, and claims are settled faster. The policy is often supplemented by contractors' all risks cover during works. It is mainly used for large operations and by professional owners, developers, social landlords, local authorities. For the insurer, it means accepting as a block parties it did not choose, hence careful review of the firms and technical studies, and a price that reflects the absence of recourse. It illustrates a project insurance logic rather than a company insurance logic.