The Contractor’s All Risks Policy is designed to protect against the cost of unforeseen loss or damage to building and civil works during the Contract Period. The Policy enables the Contractor to comply with the insurance requirements of the Contract with respect to material damage to the “Contract Work” itself, as well as the legal liability for bodily injury and property damage to third parties. Insurance of the Construction Plant and Equipment associated with the “contract Work” is also provided under this policy.
Erection of Plant and Machinery requires similar insurance to that needed for building and civil contracts. The Erection All Risks Policy is written specifically to cater for these types of contracts.
The Policy is subject to various Conditions, Exceptions, Limits and Excesses. A specimen copy of the Policy is available on request.