The idea of the mandatory insurance of developers liability insurance is discussed in Moscow
Federal and Moscow authorities are considering the need for compulsory insurance of developers’ liability in the event of revealing hidden defects in buildings that may appear after the delivery of the facility. This was told by the head of the Department of Urban Development Policy of Moscow Sergey Levkin.
According to the official, such a measure will significantly improve the quality of construction control. In addition, this will allow Russia to rise in the World Bank rating.
“In Russia, there has been less security for property liability of construction organizations. Therefore, together with the Ministry of Construction of Russia, the Associations of NOPRIZ and NOSTROY, we are considering the possibility of establishing an institution of compulsory liability insurance in case of hidden defects in the building. We propose to use the experience of Great Britain and France”, – explained Sergey Lyovkin.
Recall that the World Bank experts, ranking Doing business, compare 189 countries in terms of the number, terms of procedures and level of quality control in construction.
Source: Moscow Construction Complex