Developers "pay" for risk

The situation with defrauded real estate investors has forced officials to think about. Now they want the developers insure business risks. The relevant bill was sent to the Duma last week. According to the newspaper "Marker", initiated a program to become head of the Association of regional banks Anatoly Aksakov. In addition to business risks, he also suggested that insure the risks of damage or loss of structure. According to Aksakov, insurance coverage should be sufficient to address the most prevalent market problems associated with the impossibility of completion of construction due to lack of funds. Recall the first time about the problem defrauded real estate investors have started talking a few years ago, when the 2005 Act came into force "Participation in the shared construction of apartment buildings and other real estate ...." The law established a valid contract form of equity participation in the construction of apartment buildings, aimed at protecting the rights of individuals from unscrupulous developers. He also had to regulate the possibility of investing money by individuals in the construction and tighten oversight of the developers, increasing their responsibility. However, since the law came into force, most developers have ignored the law, follow the path of devising schemes to bypass, leaving the equity holders have no rights. The most widely used: a preliminary sales contract and bill the scheme. On the one hand, officials have managed to achieve some success. So, all contracts with potential buyers of apartments in buildings under construction now draw up a stake. In addition, the developer is obliged to specify deadlines for delivery of the object, and in case of default, interest holders may require payment of a penalty. However, as it turned out, even these measures proved ineffective. For example, if the new law is adopted, the developer will have to keep itself insured, otherwise you'll have to answer to a co-investor. True, not yet known how insurers perceive the innovation, because the construction sector is characterized by its lack of transparency and objective assessment of it will be difficult.