Engineering Insurance/Construction Insurance
The cover intends to provide compensation to the insured in the event of loss or damage to the property insured and the liability of the insured depending on the type of the policy as follows: -
Contractor's All Risks (CAR) Insurance:
This policy provides cover for every hazard that is not specifically excluded. It offers protection against loss or damage in respect of contract works and third party claims in respect of property damage or bodily injury in connection with the construction project.
Erection All Risks (EAR) policy:
Provides cover against all site risks involved in the erection of plant and machinery and steel structures of any kind as well as third party claims in respect of property damage and bodily injury in connection with and erection project.
Contractors Plant Machinery:
Provides cover for plant and machinery whether in use, idle or being dismantled, in the course of operations, following successful commissioning of the construction project.
Machinery breakdown policy:
Provides cover against unforeseen & sudden physical loss or damage from various perils not specifically excluded.
Boiler explosion cover:
Provides cover against explosion, collapse or damage to boiler and surrounding property of the insured by pressure vessels. It also provides cover for liability for death or bodily injury and property damage to third parties.
The Company also offers bonds to cover financial obligations that may arise in connection with construction works and other activities including Bid bond, Performance bond, Advance payment bond, retention bond, customs bond, supply bond & maintenance bond.
The above brief explanation is intended to provide you some idea on the common insurance covers available. But please call or visit us to find out more.