Contracting All Risk

 

CONTRACTOR'S ALL RISK INSURANCE

Contractor's All Risks Insurance [CAR] protects the interests of contractors involved in civil, mechanical or electrical contracts like construction of buildings, bridges, dams, towers etc, against their exposure to loss, damage or liability by a variety of external and internal causes during the course of construction.

Section 1: Physical Loss or Damage:

·         Accidental damage during construction

·         Fire, lightning

·         Water damage, flood, storm and tempest

·         Collapse, collision, impact, burglary, theft and malicious damage, aircraft

·         Breakdown or explosion to any part of the contract e.g. Lifts in buildings etc

·         Consequent damages due to defects in material casting, workmanship and design

·         Riot, strike, subsidence, landslide, cyclone, hurricane, earthquake, volcanic eruptions.

 

Section 2: Third Party Legal Liability:

·         Accidental bodily injury &/or death to third parties

·         Accidental damage to property (excluding property belonging to or in the custody or under the control of the insured and legal expenses for defending any proceedings with company’s consent.

Maintenance Cover:

Maintenance Period Cover protects the insured against any loss &/or damage that occurs in the course of the compliance with the maintenance obligation under the contract, subject to the cause of such loss or damage having originated during the period of insurance.