Protecting your valuable investment
This insurance may be suitable for Property Developers and Energy and non-Energy Manufacturing firms
Contractors All Risks (CAR)
Our Contractors All Risks insurance policies provide coverage for buildings and civil engineering projects against hazards which may threaten the works during construction, resulting in loss, or damage or destruction of materials, works in progress, construction plant and equipment and construction machinery. Construction of offices, buildings, hospitals, schools, factories, roads and bridges are just a few examples of where CAR can be applied.
Erection All Risks (EAR)
The Erection All Risk Insurance policies cover the erection of individual machines or complete plants – ranging from complete power stations to installation of lifts and air conditioning equipment. EAR policies provide a comprehensive cover to all types of projects involving erection works against accidental loss or damage to machinery and erection materials during storage, erection and testing / commissioning.
Scope of Cover
Both of these policies protect you against accidents and damage caused by fire, lightning, explosions, earthquakes, landslides, typhoons, floods, short circuit (and other electrical causes), negligence, lack of skill, malicious acts, theft, and burglary.
Essentially, these policies provide cover on an all risks basis for physical loss or damage to the insured property, providing such loss or damage is of an unforeseen and accidental nature, and is not otherwise excluded from the scope of the policy.
Policies can be tailor-made to suit your requirements and protection needs. Large limits are available and coverage enhancements can be provided to include:
Advance Loss Of Profits Insurance
It is a business income protection cover with the aim of covering the principal’s loss of gross profits resulting from a delay in completion of the construction or the erection works. This policy is not sold separately but as an extension of the CAR & EAR Policies.m AIG