Contractor All Risk
Get a Quotation
Please provide the following documents to get a quotation:
- Completed Brokerage of Record filled, signed and stamped
- Copy of Commercial Registration
- A completely filled Proposal Form, signed and stamped
- Loss record for the past three years
As a contractor or developer in construction, you will need to protect your capital investments and purchased project-related materials against loss or damage throughout the work in progress. You will also need to protect your liability against third party claims arising from your construction activities.
Risks Covered
The policy covers two sections:
- Section I - Material damage
The policy covers physical losses, damages or destruction of property due to any cause other than those specifically excluded in the policy.
- Section II - Third-party liability
The policy covers the legal liability falling on the insured contractor as a result of physical injury or property damages suffered by a third party.
Extensions
- Cross liability
- Removal of debris expenses
- Express freight, overtime charges
- Air freight
- Additional customs duty
- Escalation
- Owners' surrounding property
Exclusions
The Policy will not cover any claim related to
- War and related perils
- Nuclear reactions, radiation or radioactive contamination
- Willful act or willful negligence of the insured
- Cessation of work
- Defective material or poor labor work
- Inventory losses
- Faulty design
- Consequential losses
