Engineering Risk Insurance

Contractors All Risks Insurance

• Covers material damages, protecting all parties involved in the construction. Cover is valid for the duration of the project. The policy also covers employers against employee negligence. It can be combined with third-party liability cover and can be adapted to suit your needs. Contractor’s All-Risk Insurance covers any unforeseen and sudden physical loss or damage resulting from insured perils (Section I), except those specifically excluded. The policy also provides cover against third-party bodily injuries and property damage resulting from erection or construction activities on the site.

• Erection All Risks (EAR) Insurance

• Provides broad insurance coverage during construction and erection of machinery, plant and steel structures involving minor civil engineering works.
• The EAR policy provides cover against any unforeseen and sudden physical loss or damage resulting from insured perils, except those specifically excluded. It includes liability cover for third party bodily injury and property damage resulting from erection and construction activities on the site.

• Machinery Breakdown

• Electric, Electronic and I.T All-Risk Insurance

Electronic equipment insurance is an all-risks accident insurance that covers sudden and unforeseen losses which physically affect the insured equipment. Losses can be caused by various factors:

• Fire, lightning, explosion, failing aircraft
• Smoke and corrosive gases
• Water, humidity and air-conditioning failure
• Short circuit and other electrical causes
• Design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship
• Faulty operation, lack of skill, gross negligence
• Malicious acts of workmen, employees, third parties
• Burglary

• Contractor Plant and Machinery Insurance

This policy provides similar cover to the scope of machinery insurance but it excludes internal machinery break-down. The cover applies to machines that are at work, at rest or undergoing maintenance operations. Cover is not limited to a specific construction site.