Engineering Insurance

The basic concept of Engineering Insurance is to provide comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant and equipment and construction machinery as well as third party in respect of property damage or bodily injury arising in connection with the execution of a building project.



 
Contractors’ All Risks (C.A.R) :

Main Thumbnail The Basic Concept of C.A.R Policy is to offer Comprehensive Protection against Sudden and Unforeseen Loss or Damage to Civil Engineering Works such as Residential and Office Buildings Airports, Bridges, Dams, Tunnels, Canals, Stadiums, Theaters in respect of:

  1. The Contract Works including Preparatory Works & Temporary Structures.
  2. The Construction Plant & Equipment, and
  3. The Construction Machinery, as well as
  4. Legal Liability arising out of Property Damage or Bodily Injury suffered by Third parties and occurring in connection with the Contract Works

Normally the Insurers Liable for Loss or Damage due to the following causes:
  1. Fire, Explosion
  2. Theft, Burglary
  3. Flood, Inundation, Windstorm, as well as
  4. Earthquake, Landslide and Volcanism
  5. Removal of debris from the site in the event of a loss Indemnifiable under the policy

The Coverage can be extended to include:
  1. Strike, Riot & Civil Commotion
  2. Testing of Machinery & Installations
  3. Maintenance Period after Execution of Works
  4. Existing Property if the contract an extension of an Existing Project
  5. Inland transit
  6. Property in off-site storage
  7. Designer’s Risk