What is Contractor’s All Risks Insurance?
The construction of buildings or civil works involves many kinds of risk of damage to permanent or temporary works, construction materials and equipment, and heavy machines. Contractor’s all risks insurance provides coverage for the damage to the insured property and third-party claims of bodily injury or property damage.
- Construction of buildings (residential, commercial, office or industrial)
- Underground pipe or cable laying works
- Civil works involving bridge, tunnel or road construction
- Renovation, extension, or repair works
What is Erection All Risks Insurance?
Erection all risks insurance (EAR) offers comprehensive protection against all types of risks involved in the erection or installation of machinery, equipment, tanks, steel structure or plants (refinery, petro-chemical and power generation). The coverage includes physical damage to the insured property and third-party claims of bodily injury or property damage.
- Plant building projects involving the entire process from installation to testing and commissioning
- Unit installation where one equipment or machinery unit is being installed by putting together multiple pieces
- of equipment or machinery
- Individual erection where a single machine, equipment or structure is erected individually
What is Machinery Insurance?
Machinery insurance is designed to provide protection against sudden and accidental damage to the machinery installed at a manufacturing or business site. It covers costs to repair or replace the affected machinery. The insurance is available to individuals or companies that own, use or manage any type of machinery installed at factories, offices, power stations and substations, warehouses or apartments.
Individuals or companies that own, use or manage any type of machinery installed at factories, offices, power stations and substations, warehouses or apartments.
What is Electronic Equipment Insurance?
Electronic equipment insurance covers sudden, accidental and unforeseen physical damage to electronic equipment installed at a manufacturing or business site. The types of equipment include computers and communications, media or medical equipment. The costs of repairing or replacing the affected equipment to a previous state before the damage are covered by the insurance.
- Electronic data processing equipment and its auxiliary equipment
- Electrical and radiation equipment for medical use such as X-Ray equipment, betatron,
- gammatron, computed tomography(CT) scanner and electronic microscope
- Communications equipment
- Other electronic equipment such as industrial robot and automatic control system
What is Civil Engineering Completed Risks Insurance?
Civil engineering completed risks (CECR) insurance is designed to provide cover for civil engineering structures after the completion of their construction. A CECR policy protects the insured structure against the damage caused by sudden and accidental events during the operation or use of the structure. It pays costs to repair the affected structure to a previous state before the damage. Depending on the needs of the policyholder, the coverage may include the costs of debris removal and lost income.
- Various types of facilities such as golf courses, ski resorts, fish farms, artificial reservoirs and water treatment facilities
- Road or railway tunnels, bridges, highways, offshore structures, dikes, jetties, dams, ports, etc.
What is Contractor’s Plant & Machinery?
Contractor’s plant and machinery insurance covers all physical damage to a contractor’s heavy machinery or equipment used at construction, civil work, cargo-handling, agricultural or mining sites.
Heavy machinery and equipment including forklift truck, excavator, bulldozer and dump truck.
What is Comprehensive Machinery Insurance?
Comprehensive machinery insurance offers wide and comprehensive protection against physical property damage and profit losses in respect of an entire plant or machinery in operation.
Power stations or substations and their related facilities.