| Interest Insured |
Materials, Supplies, Temporary Buildings, Tools, Machinery, Plant and Equipment, Removal of Debris, Transit, Professional Fees, Expediting Expenses, Pre-existing Structures to be incoperated into the works or used in the construction. |
| Who Needs To Buy |
Construction projects such as:
- Civil Construction Works (dwelling house, works for public..)
- Industrial Construction Works (works for building materials manufacturing, metallurgy and mechanical engineering works, works for chemical industry…)
- Technical infrastructure construction work (works serving water supply , drainage works...)
- Transport construction works (road, railway, bridge...)
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| Scope Of Cover/ Insured Perils |
- Providing financial security for all parties involved in project
- Covering any accidental loss or damage at the construction site from any cause not exempted.
- Third party claims in respect to property damage or bodily injury arising in connection with the execution of a construction project are covered under the liability section.
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| Rating |
Depended on the Insured's:
- The location of the project and its geography
- Contract details and values
- Contractor and Contractor's experience
- The work and the site
- The construction plant
- The claim history of all parties
- All parties to be insured
* For compulsory policies, comply with Law (coverage, ratting tariff, deductible...)
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| Requested Document |
- Proposal Form/ Application Form
- Project Schedule / Bar Chart
- Geological Survey Report
- Project Description
- Contract Value Breakdown
- Major Equipment Detail
- Description of the process and/or Technology)
- Plans, diagrams, etc. (blue print)
- Information in interested parties (project owner, main contractor, Financial Institution, manufacturer of main equipment, etc.)
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