Contractor All Risk (CAR) Insurance is designed to cover losses against construction projects that may initiate since project conception and onwards full completion. The coverage
Contractors\’ All Risks Insurance [CAR] protects the interests of contractors involved in civil, mechanical or electrical contracts like construction of buildings, bridges, dams, towers etc, against their exposure to loss, damage or liability by a variety of external and internal causes during the course of construction.can also be extended to include various add – on covers available under this policy. For the assessment of this type of claims our professionals has very vast technical knowledge and professional experience.
The cover provides protection against losses or damages in respect of the contract works at the contract site(s). In addition, the cover may include Third Party Liability, construction plant and equipment, construction material, removal of debris, professional fees and surrounding property, in connection with losses arising with the construction of a project.
Physical Loss Or Damage
We adjust the losses on materials and contract work from a variety of risks such as
• Accidental damage during construction
• Fire, lightning
• Water damage, flood, storm
• Collapse, collision, impact, burglary, theft and malicious damage, aircraft
• Breakdown or explosion to any part of the contract e.g. lifts in buildings etc.
• Consequent damages due to defects in material casting, workmanship and design
• Riot, strike, subsidence, landslide, cyclone, hurricane, earthquake, volcanic eruptions.
THIRD PARTY LEGAL LIABILITY
We adjust losses for indemnity to third parties that may result from
• Accidental bodily injury &/or death
• Accidental damage to property
ERECTION ALL RISK
Erection All Risks Insurance [EAR] protects the interests of principals and contractors involved in erection of Plants, Machinery, Heavy Equipments etc, against their exposure to loss, damage or liability by various external and internal causes during the course of erection.
The cover protects losses against all the risks involved in the erection of machinery, plant and steel structures of any kind as well as third party claims arising in connection with the installation works of the project. The coverage commences from the unloading of items insured to erection work and until test operation has been completed excluding used/second-hand machines where cover ceases upon commencement of testing/commissioning.
We assess losses of all kinds of erection and testing on individual machinery, industrial machinery, industrial plants, steel works and/or structure. In addition, the cover may include Third Party Liability, Civil Engineering Works, Equipment for Erection, Removal of debris, Professional Fees and Surrounding Property