The 57-kilometer Gotthard Base Tunnel stretches beneath the Alps, connecting the north portal in Erstfeld (Canton of Uri) with the south portal in Bodio (Canton of Ticino). Since the start of construction over ten years ago, more than 24 million tons of rock have been removed. With a deviation of just 8 cm horizontally and 1 cm vertically, the Gotthard Base Tunnel also sets the ultimate standard in surveying skills. After the tunnel's completion, scheduled for 2017, the journey from Zurich to Milan will take just 2 hours and 40 minutes, and 50 percent of the road freight shipped across the Gotthard Massif is expected to be transported by rail instead.
A superlative world record
A historical moment: the world's longest railway tunnel becomes reality
Professional support from Allianz experts
A superlative construction project: and one actively supported by Allianz Suisse, which together with three other Allianz companies and Nationale Suisse has insured the construction of the tunnel for a total of 4 billion euros. Allianz Suisse has provided the lead construction company with a team of insurance experts specializing in technical insurance, liability insurance and property and casualty insurance.
This is because such large construction sites are exposed to a huge amount of risk. High temperatures, squeezing rock, heavy vehicle machinery, stores of explosives, fire, water penetration, earthquakes – danger lurks around every corner. On a project such as the NEAT tunnel, to use its German acronym, the potential loss figure can easily be several hundreds of millions of francs. Consequently, the risks must be identified with the help of risk management approaches, and an individually tailored insurance contract is drawn up for every large construction site. So far the involvement has been worthwhile for Allianz Suisse, since the loss ratio has been less than 30 percent.
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