The Contractors All Risks Policy is designed to provide protection for buildings under construction and other civil works during the Construction Period. It also covers Third Party Liability arising from the construction activities. The policy is written to enable the Contractor or Employer to comply with the insurance requirements of the Contract and to cover the liability of the contractor for loss or damage during the maintenance period as well.
This Policy protects your financial investment in a project either as a Principal or as a Contractor. The policy can be taken by you as the Principal, Contractor, Sub Contractor either individually or jointly. The policy offers covers at various stages of the projects including; Storage, Erection, Testing, and Commissioning. The policy is written to enable the Contractor or Principal to comply with the insurance requirements of the Contract and to cover the liability of the Contractor or Principal for loss or damage during the maintenance period as well.
The Machinery Breakdown policy covers unforeseen and sudden physical damage to any mechanical and electrical machinery and/or equipment by any cause necessitating repairs and/or replacement.
The Machinery Loss of Profit Policy is designed to indemnify the Insured against trading loss which invariably follows machinery damage due to the reduction or complete stoppage of production. Wages and certain overhead expenses will continue to be paid in full and it may be necessary for additional expenditure to be incurred in order to maintain some production during the period necessary to repair or replace the damaged machinery or plant.
Electronic Equipment Insurance is essentially an “accident insurance” on all “all risks” basis for electronic equipment. It covers losses which arise suddenly and unforeseeably and materially affect the subject matter insured, necessitating repair or replacement. Subject matter insured can be:Material damageLoss or damage to data mediaConsequential loss
The policy indemnify the insured against any sudden and unforeseen physical loss or damage from any cause not specifically excluded in a manner necessitating repair or replacement to the Plant & Machinery either at work or at rest. The cover is not restricted to a specific project site.
