All types of civil engineering works, ranging from small buildings to massive dams are exposed to damage from a wide range of causes including, fire, lightning, flood, inundation, storms, cyclones, and other accidental damages. ‘Contractors All Risks Policy’ is a comprehensive insurance, which provides complete protection against all types of civil construction risks. This cover can be taken jointly by the owner/ principal covering the interest of all other parties like main contractor, sub contractor, financial institution, bank, etc.

This policy has two Sections to cater for all contingencies associated with Contract work.

• Material Damage : This Section covers loss or damage to contract work and other ancillary facilities on comprehensive basis.
• Third Party Liability : This Section covers legal liabilities to third parties arising out of accidental bodily injury or property damage in connection with contract work. The policy provides protection throughout the construction period followed by a 12 month maintenance period.

The cover is on an All Risk basis and includes:

• Fire and Allied Perils
• Flood, Storm, Tempest, Cyclone
• Earthquake, Fire and Shock Collapse of construction
• Collapse
• Water Damage for Wet Risks
• Third party liability

Third party liability and related perils

• Bodily injury
• Property damages
• Vibration, removal or weakening of support
• Underground cables

Various customized extensions are also available to meet your specific needs.

Electronic equipment can be very costly, and their repair and replacement often has a heavy impact on your wallet. In today’s fast paced business landscape, automation is a guaranteed requirement for your progress and this tailored policy that covers your business against potential perils that can harm your electronic and electrical appliances and tools.

Coverage

• Electronic data processing equipment
• Electronic and radiation equipment used for medical purposes
• Communication equipment
• Miscellaneous equipment

Benefits

This comprehensive policy covers your electrical and electronic equipment against the following perils:

• Fire & lightning
• Damage or loss caused by explosions
• Aircraft damage
• Smoke contamination
• Water and humidity related damages
• Short circuit and other electrical causes
• Design, manufacturing, assembly and erection faults
• Faulty operation and malicious acts of workers
• Burglary / Theft

The scope of cover is like the Contractor’s All Risks Insurance but specifically designed for Erection/Installation projects, where the values of the Plant/Equipment dominate the Contract Value. This policy covers all risks in projects that involve construction, testing and commissioning.

The following extensions can be included:

• Express freight (excluding air freight), holiday and overtime rates of wages
• Air freight
• Additional customs duty
• Testing period extensions
• Storage risks at the fabricators premises/workshop
• Custom duty
• Expenses towards clearance and removal of debris
• Third party liability
• Cross liability
• Escalation of cost

This policy covers loss or damage to insured’s fixed Plant & Machinery against sudden, accidental and unforeseen physical loss or damage including losses covered by mechanical/electrical breakdowns. It is a condition under the policy that Sums Insured declared should represent the New Replacement Values and that there shall be a satisfactory Maintenance Program throughout the period of Insurance.

The cover is designed for Mobile Plant & Equipment used in construction sites against sudden, accidental and unforeseen loss or damage but excluding mechanical/electrical breakdown. The same criteria apply as in the case of Machinery Insurance.