Erection 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
This policy insures all types of risks involved in the materialization of machinery, plant and any kind of steel structures, in addition to third-party claims of property damage or body injury arising in connection with the execution of an erection project.
Risks Covered
Coverage is on an 'all-risks' basis, including:
- Fire, lightning, explosions, aircraft damage
- Riots, strikes, malicious acts
- Floods, inundation, storm, cyclone and allied perils
- Landslide, overflows and rockslides
- Burglary and theft
- Faults in erection
- Human errors, negligence
- Short circuiting, arcing, excess voltage
- Electrical and mechanical breakdown
- Collapses, damages due to foreign objects, damages caused by impact
- Any other sudden, unforeseen, and accidental damages that were not excluded explicitly
Extensions
- Cross liability
- Third-party liability
- Removal of debris expenses
- Express freight, overtime charges
- Air freight
- Additional customs duty
- Escalation
- Owners' surrounding property
- Storage risk at fabricator's premises
- Maintenance cover
Exclusions
- Loss or damage due to faulty design, defective material of casting and/or bad labor work
- Manufacturing defects
- Loss or damage due to willful acts or negligence
- Consequential loss
- Loss or damage due to war or warlike operations
- Loss or damage due to nuclear reaction, nuclear radiation or radioactive contamination
- Losses due to normal wear and tear, gradual deterioration
- Cessation of work
- Inventory losses
