This Policy covers the construction projects which indemnifies the insured from any sudden and unforeseen physical loss or damage to the contract works, materials, or equipment that are being part of the construction or erection required in construction works from all kind of reason other than the specified exclusions which either requires repair or a replacement. The Section II of this insurance is Third Party Liability which covers accidental bodily injury, illness or death to third parties and/or loss of or damage to third party properties occurring in connection with the construction works covered under Section I of the policy. There are numerous extensions available in this coverage and our dedicated team would be glad to be of assistance

Erection All Risks (EAR) Insurance — written in connection with construction projects and these are designed to cover the risk of loss arising out of the erection and installation of machinery, plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury or property damage arising out of these operations. Coverage for delay in start-up (DSU) costs is typically an optional coverage. Covered parties include the general contractor, subcontractors, and in some cases suppliers and manufacturers of equipment. Examples of the types of projects for which EAR coverage is typically purchased include power plants, manufacturing and fabrication facilities, water and wastewater treatment facilities, and telecommunications centers (particularly where the erection of signal towers is involved).

Equipment Insurance covers Construction Equipment, Machinery, Plants etc. for Own Damage & Third-Party Liability (site and offsite risks). This insurance suits contractors using their Construction Plants and Equipment onsite and offsite. It’s an annual policy and covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement. The sum insured should always be equal to the costs of replacement of the insured machinery by new machinery of the same kind

Machinery breakdown insurance provides a security cover to the machines used by factories and industries. This insurance covers accidental breakdown and physical damage of the machinery, the cost of repairs or replacement of the damaged machine parts. The emergence of such losses shall be from both internal and external causes. These could be short circuit, structural defects, loosening of parts, excessive speed, lack of lubrication, etc. The protection is offered for machines both in working and in rest condition. Some other conditions are when dismantled or moved or re-assembled for cleaning, inspection or repair. Certain extra coverage can be enjoyed on the payment of additional premium. These cases include express freight, air freight, custom duty and third-party liability.

Deterioration of Stock Insurance policy provides cover for loss of or damage by deterioration or putrefaction to goods stored in any cold storage space specified. Significant features and benefits includes
(a) Deterioration caused by a rise or fall in temperature due to breakdown or accidental damage to the refrigeration equipment or non-operation of the controlling devices of such equipment.
(b) Accidental failure of the public electricity supply is included.
(c) Deterioration caused by the action of escaping refrigerant fumes is included

This type of insurance covers the electronic equipment (manufactured electronically) during operation or breaks while still inside the buildings or their own facilities. Examples of such electronic equipment:
• Electronic equipment of all computers, • Electronic medical devices such as X-ray equipment, MRI devices, radiation and laser devices and laboratory and diagnostic equipment.
• Electronic communication devices, i.e. modern PBX telephones, wireless networks, radar and receivers and transmitters for TV/ radio/satellite stations.
• Electronic studio devices, i.e. photographic and sound recording equipment Features of the “Electronic Equipment Insurance” is protection provided by the insurance policy for sudden and unexpected losses or damages caused by fire, lightning, explosion, short circuits and other electrical reasons, water or any other liquid, casting defects, etc

• What is Contractors All Risk Insurance?
Contractor’s all risks insurance is a type of policy that offers a coverage if any damage to ongoing work on a construction site due to any sudden or unforeseen circumstances.

*Note: please refer back to the terms and conditions of your chosen policy, exclusions and limitations may apply depending on the insurance plan.