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Erection All Risks/ Compulsory Erection All Risks

Interest Insured Machinery, Plant and Equipment, Freight, Customs Duties and Dues, Clearance of Debris to be incoperated into the works or used in the installation, erection or completion of the project.
Who Needs To Buy
  • Erection/Installation projects such as:
    + Civil Construction Works (Housing; educational construction works; medical examination and treatment establishments and other medical facility...) 
    + 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...)
Scope Of Cover/ Insured Perils
  • Covering to any accidental loss or damage at the site from any cause not exempted. We will indemnify the Insured in respect of such loss or damage by:

  * repairing the damaged items to its condition immediately prior to damage, or
  * replacing damaged items with similar items, or
  * paying the Insured the cost of repairs or replacement, whichever is the lesser.

  • 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."
Rating

Depended on the Insured's:

  • The location of the project and its geography
  • Contractor and Contractor's experience
  • Contract details and values
  • The work and the site
  • The claim history of all parties

* For compulsory policies, comply with Law (coverage, ratting tariff, deductible...)

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.)