CONTRACTOR'S ALL RISKS INSURANCE

WHAT IS COVERED?

We will cover your construction project for a protection against material damage and third party liability incurring within your construction period.

SECTION 1- MATERIAL DAMAGE

This policy is designed to provide protection against loss or damage in respect of the contract works at constriction site, including contraction plant and equipment, contraction machinery, removal of debris professional fees and principal's existing property.

SECTION 2- THIRD PARTY LIABILITY

This policy designed to provide legally liable to pay to third party claims arising in connection with construction of a project

 

PERIOD OF COVER

 

The liability of the Insurance Company shall commence, notwithstanding any date to the contrary specified in the Policy Schedule, directly upon commencement of work or after the unloading of the items entered in the Policy Schedule at the site. The Company’s liability expires for parts of the insured contract works taken over or put into service.

At the latest the insurance shall expire on the date specified in the Policy Schedule. Any extensions of the Period of Insurance are subject to the prior written consent of the Company.

 

STANDARD EXCLUSIONS

·       Deductible stated in the policy

·       War and Civil War

·       Cyber Attack

·       Terrorism

·       Political Risks

·       Information Technology Hazards

·       Radioactive Contamination

·       Nuclear Energy Risks

·       Sanctions Limitation

·       Asbestosis

·       Infectious Diseases

WHAT IS THE RISK INFORMATION FOR OUR PRICING?

These are some of the important risk information which we need to obtain from you so that we can indicate you a quotation or premium charge:

  • Client information
  • Nature of Business
  • Principal's Name
  • Contractor's Name
  • Section 1 on Material Damage: Contract Value
  • Section 2 on Third Party Liability: Limit of Indemnity
  • Location of Risk
  • Title of Contract
  • Scope of Contract Work
  • Period of Project
  • Maintenance Period
  • Contract Agreement or Bill of Quantity
  • Layout Plan or Drawings
  • Loss History in the past 5 years
  • Others Underwriting information to be required by us.