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Contractor's All Risk Insurance offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery.
Brief Description
Contractor's All Risk Insurance offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a civil engineering project. This policy is extremely useful for consulting engineers, architects and financiers because it contributes to reducing the overall construction expenses and at the same time offers efficient financial protection for all parties concerned.
Covered Risks
Contractor's All Risk provides 'all risk' cover unless the hazard is specifically excluded. It covers the risk of fire ,lightning, explosion, flood, inundation, rain, snow, earthquake, theft, burglary, bad workmanship, lack of skill, negligence, human
Major Exclusions
This policy is subject to only few exclusions. Loss or damage to nuclear reaction, consequential loss, loss or damage due to faulty design, loss or damage due to war or war-like operation etc.
