Wednesday August 20, 2008
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Contractors All Risks
Contractors All RisksContractors All Risks

Unforeseen circumstances leading to losses - whether physical or liability-related, is most likely to occur when renovation or construction work is being done. In order to protect yourself against these unforeseen risks that could be financially damaging and in some instances actually crippling, it's important you ensure that your interests are well protected in this regard. One of the key tools for this is insurance. Ensure you are adequately insured before your project starts. Our Contractors All Risks Policy with its extensive coverage and flexible limits has been designed keeping this in mind.

This description is intended to be a general summary of the type of coverages included in this product. Your needs maybe very different and will need different kinds of cover to actually manage the risks involved. We understand this and are happy to built a specific policy that will meet your requirements.

For details and quotations of tailor-made policies to suit your needs, please contact us or your insurance agent/broker.

Summary of Cover

A Standard Contractors All Risks Policy, subject to certain exceptions, covers:

Section 1 : Material Damage - Unforeseen and sudden physical loss of or damage to contract works

Section 2 : Third Party Liability - Bodily injury or damage to physical property arising out of the performance of the contract works to third party for which you’re legally liable

If your requirement includes :

- Removal of Debris
- Professional fees
- Vibration or Removal or Weakening of Support
- Testing & Commissioning
- Inland Transit
- Off-site Storage
- Principal's Property
- Damage due to Strike Riot and Civil Commotion

please do contact us and we will happy to built a specific policy for you.
Major Exclusions

A quick glance at some of the exclusions for this product:
  • Wear & tear
  • Penalties/ consequential loss
  • Fault defect error or omission in or failure of any design
  • Defect in material or workmanship
  • Contractual liability
  • Any liability to workmen/ self-employed persons or sole-proprietor
  • War risk/ Political risk Exclusion
  • Terrorism Exclusion
  • Nuclear/ Ionizing Radiations/ Contamination by radioactivity from any nuclear fuel or waste
  • Asbestos Exclusion
  • Pollution Exclusion
  • Completed operation/ product Liability Exclusion
  • IT Clarification/ Information Technology Hazards Exclusion
  • Professional Liability/ Indemnity Exclusion
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