Builders' Liability Insurance

This is a type of insurance that all owners or contractors of buildings under construction, that have more than 2 floors, must take up under the National Insurance Act 2003. Builders Liability Insurance provides security against the risk of bodily injury, death and property damage to workers at construction sites and affected members of the public in the event of collapse of the building under construction and other construction risks. The penalty for non-compliance is N250,000 plus 3 years imprisonment of responsible parties, Record of conviction and possible sealing off and demolishing of the building.