Construction & Engineering Insurance

Contractors’ all risks (CAR) insurance is a policy that provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Damage to property can include improper construction of structures, the damage that happens during a renovation, and damage to temporary work erected on-site.
Third parties including subcontractors may also become injured while working at the construction site. CAR insurance not only covers those associated risks but also bridges these two types of risks into a common policy designed to cover the gap between exclusions that would otherwise exist if using separate policies.

Main Exclusions:

‘- War, invasion
– Nuclear reaction, nuclear radiation or radioactive contamination
– Willful act or willful negligence
– Cessation of work
– The deductible
– Consequential loss
– Loss or damage due to faulty design;
– Wear and tear
– Loss of or damage to construction plant, equipment and construction machinery
– Damage to any property or land or building caused by vibration or by the removal or weakening of support
– Injury to employees or workmen of the Contractor(s) or the Principal(s)
* Please refer to main policy wording for full terms, conditions and exclusions

Coverage:

Erection All Risks (EAR) is a policy designed to meet the insurance obligations placed upon Contractors under the contract conditions. This policy covers the works to be executed in accordance with the contract, temporary works, materials, construction plant and equipment brought into the site and liabilities arising out of the performance of the contract. In general, EAR insurance is intended to cover erection of plant and machinery, cover is usually extended beyond erection to include testing and commissioning.

Main Exclusions:

– War, invasion
– Nuclear reaction, nuclear radiation or radioactive contamination
– Willful act or willful negligence
– Cessation of work
– The deductible
– Consequential loss
– Loss or damage due to faulty design;
– Wear and tear
– Loss of or damage to construction plant, equipment and construction machinery
– Damage to any property or land or building caused by vibration or by the removal or weakening of support
– Injury to employees or workmen of the Contractor(s) or the Principal(s)
* Please refer to main policy wording for full terms, conditions and exclusions

Electronic Equipment policy is specifically designed to meet the needs of businesses that own and hire specialist electronic equipment or a large variety of electronic equipment, protecting them against material damage and subsequent financial loses. This product also includes cover for loss or damage to computer media and additional expenditure.

Main exclusions:

– War, invasion
– Nuclear reaction, Nuclear radiation or radioactive contamination
– Willful act or Willful negligence
– The deductible
– Wear and tear
– Costs of the elimination of functional failures and maintenance
– Consequential loss
– Aesthetic defects

The operation of boilers and pressure vessels, no matter how robustly built or maintained, carry the inherent risk of explosion or collapse. Accidents involving boilers or pressure vessels can be extremely costly in terms of injury or loss of life, damage to property as well as the repair and replacement of the equipment itself.
Take up our Boiler and Pressure Vessel Insurance to cover against the risk exposures of material damage and third party liability arising from the operation of boilers/pressure vessels.

Main Exclusion:

– War, Invasion
– Defects due to the wearing away or the wasting of the materials of a boiler or a pressure vessel
– The failure of individual tubes in boilers of the water tube, locomotive or other multitubular types
– Willful act or willful negligence
– The deductible

Coverage:

Machinery Breakdown policy is an ideal cover for all kinds of plant and machinery, to cover cost of repairs or replacement of damaged parts as a result of unforeseen and sudden physical damages. The cover affords protection to the insured machinery whilst at work or at rest and also when they are being dismantled for the purpose of cleaning, inspection and overhauling or removal to another position or in the course of their operations or subsequent re‐erection, provided these are performed in the same premises.

Main Exclusiom:

Machinery Breakdown policy is an ideal cover for all kinds of plant and machinery, to cover cost of repairs or replacement of damaged parts as a result of unforeseen and sudden physical damages. The cover affords protection to the insured machinery whilst at work or at rest and also when they are being dismantled for the purpose of cleaning, inspection and overhauling or removal to another position or in the course of their operations or subsequent re‐erection, provided these are performed in the same premises.

Coverage:

This policy will compensate for the loss of profit incurred by a firm/establishment following the breakdown of machinery insured under the machinery breakdown policy. It is a requirement that the insured have a Machinery breakdown policy in force. In addition, for a loss of profits claim to be admissible, the material damage claim must also have been valid.

Main Exclusion:

– The Deductible
– Loss or damage to exchangeable tools
– Loss or damage due to fire, direct lightning, chemical explosion
– Loss or damage caused by pre-existing defects
– Loss or damage arising out of the willful act or gross negligence
– War, invasion
– Nuclear reaction, nuclear radiation or radioactive contamination
– Any restrictions on reconstruction or operation imposed by any public authority
– Loss of business due to causes such as suspension, lapse or cancellation of a lease, licence or order