The development of activities such as the construction or completion of a service has been a centerpiece for the development of civilization as we know it today; This whole process is done by persons or entities commonly known as contractors, which carry out their activities properly must be subject to certain duties as insurance; which is the main subject of this article. But before you begin to play this important topic it’s own wondering what a contractor? A contractor is a person, entity or company hired by an organization usually governmental order, in order to carry out the particular preparation of constructions like buildings, oil companies, refineries, laboratories and roads among others. In the elaboration of all these projects is necessary to take into account the use of not only human resources, but also others such as machinery, which therefore leads to economic resources that they are borne by the Contracting Party, therefore the contractor is exposed to fulfil certain obligations. The timely fulfilment by contractors is seen clearly pressed by the imposition of some items such as insurance, which are responsible for ensuring the investment of the contractor with the firm intention that the resources allocated by the contractor will be well spent or destined to the elaboration of the draft. Some of these insurances are: insurance for breach: this compulsory insurance for contractors is responsible for the losses to the contractor in case of default by the contractor, this is mandatory because the misuse of time leads to the increase of the economic resources that a Contracting must perform to complete a construction. It is important to mention that at the same time that the contractor liable with the contractor also must do so with staff and resources placed at their disposal for the preparation of the work, therefore the contractor is obliged to acquire insurance policies such as: insurance against accidents at work: this compulsory insurance is It is responsible for caring for the construction workers in the event that an accident within the work can leave disabled or injured worker; This insurance must necessarily run by the contractor. Extracontractual Civil liability insurance: this is responsible for making that the contractor will cover damages made to third parties during the construction time.
Insurance of stability and quality of the work: this requires the contractor to respond by the quality of the building after its completion. This insurance typically has a validity usually several years after finishing the work. All risk construction insurance: this insurance on certain occasions however is not mandatory it commits the contractor to respond by the losses caused by theft, fraud or damage caused by third parties to the work, but also there are certain exceptions as damage by natural events such as earthquakes. Warranty insurance: it is based on guarantee the worker the regular payment of wages and social benefits mandatory by the contractor. Given the above is demonstrated that insurance are an important tool for ensuring various aspects of vital importance in construction and at the same time to contribute to improve the quality of the constructions that are conducted at present..