The Ivorian government has instituted two types of insurance which every builder is required to take out, namely, All Risks Construction Site Insurance and Ten-Year Civil Liability Insurance.
All Risks Construction Insurance covers the risks related to the execution of the construction work, while Decennial Liability Insurance covers, for 10 years, defects that render a building unfit for its purpose or that compromise the solidity of the building structure.
The Council of Ministers adopted in early December a draft law amending the 2019 law on the construction and housing code. This reform aims to better regulate insurance obligations in the construction sector and clarify the responsibilities of the stakeholders involved: construction companies, project owners, developers, and property owners.
Both types of mandatory insurance apply to all construction, regardless of the project's size or type.