Insurance Plan for Photovoltaic Systems - Installation Stage

Basic coverage

All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage covers you for:

• Damage to the project itself
• Third party civil liability arising from any risk
• Employer liability

These include:





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.

Damage to the project itself

• Damage due to earthquake: 2% of insured capital
• Damage due to acts of God (excl. earthquake), fire, water in general, subsidence, collapse, landslide, short-circuit, strikes, riots, civil unrest, terrorist acts, coverage during the testing stage of the machinery and installations, coverage for erroneous design, coverage for manufacturer risk: €3,500
• Damage from other risks: €1,500
• Damage from theft within secured areas: 10% of damage with €3,500 minimum per incident.
• Damage from theft outside secured areas: €1,500 per incident

Third party civil liability arising from any risk

• Special clause 208: 10% of damage with €600 minimum per incident
• Other damages: €700 per incident

Employer liability

• Deductible of the first 3 working days from the date of the accident

When your insurance plan does not cover you

All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage does not cover you for:

• 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 gardens, vegetation, plants and trees
• Any loss or damage due to professional liability or surveyors, engineering advisors, architectural advisors, etc.
• Any loss or damage to any property, plot of land or building, or bodily injury to third parties directly or indirectly due to vibration, shifting or weakening of the shell of a neighbouring structure. All other damage to neigbouring structures is covered
• Any existing or assumed liability for damage or loss due to direct or indirect contact in any way with asbestos or materials containing asbestos, in any form or quantity
• Damage or loss from contamination or pollution of the air, water or ground

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.

Clarification: the installation should not have started before the acceptance of the insurance risk

Fire-protection measures

All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage only covers you when all fire-protection measures are in full readiness before the testing period commences.



Safety measures to prevent accidents


All Risks Piraeus Insurance for Photovoltaic Systems during the assembly and installation stage only covers you if you have taken the required accident and damage prevention measures and you abide by the laws and regulations on public safety and the safety of the staff you employ in any capacity for the project.



Storage of materials and tools

Coverage for theft of materials and tools is offered only when the materials or tools are stored in a locked enclosed area during non-operating hours.



Previous civil liability policy

If there is a civil liability policy for assembly in effect for the project you have undertaken as a contractor or subcontractor, this policy will take effect first. If its limits are exhausted, then the other policy will take effect in excess of the previous limits.