Contractor's all-risk insurance services

Description

The Fehmarnbelt Fixed Link Project (‘Project’) is the final stage in the realisation of a straight traffic corridor between Scandinavia and continental Europe. This is going to be an immersed tunnel containing two dual carriageways and a twin-track railway subject to plan approvals. It will traverse the 19 km distance across the Fehmarnbelt between Lolland in Denmark and Puttgarden in northern Germany. The works covered by the policy have an estimated value of EUR 5 379 000 000. Femern A/S have required insurance services related to construction of the Fehmarnbelt Fixed Link comprising: Lot 1: Construction ‘All Risks’ and Third Party Liability Insurance; Lot 2: Excess Third Party Liability Insurance. Lot 1 is for lead insurer on construction ‘All Risks’ and third party liability insurance with a ‘Primary’ EUR 5 000 000 each and every occurrence limit of indemnity. The minimum capacity for the lead insurer to hold is 15 %, but the bidders may offer a capacity of up to 40 % (part of the award criteria). Lot 2 is for lead insurer on excess third party liability insurance, limit of indemnity EUR 95 000 000 each and every occurrence in excess of EUR 5 000 000 each and every occurrence. The minimum capacity for the lead insurer to hold is 15 %, but the bidders may offer a capacity of up to 30 % (part of the award criteria).