Contractor’s All Risks, Contractors Plant & Machinery , Machinery Brekdown and Electronic Equipment policies are available under this class of insurance.
Contractor’s All Risks policy is issued in respect of civil engineering contracts and provides cover against material damage to contract works and legal liability to Third Party in respect of bodily injury and property damage. Cover is provided on ‘all risks’ basis i.e. cover against all type of risks specifically not excluded from the policy cover. Policy is issued for the whole period of contract work includeing maintenance periiod.
For all type of engineering contract works Erection All Risks policy is issued which also provides material damage and Third Party liability cover. Cover is provided on ‘all risks’ basis. Policy is issued for the whole period of contract work including maintenance and testing period.
Contractor’s Plant & Machinery policy is a specially designed policy to provide insurance cover to Contractor’s Plant & Machinery. It provides material damage cover to insured items on ‘all risks’ basis.
Machinery Breakdown policy provides cover to insured machinery items against material damage due to causes such as faulty design (Calculations, plans, drawing and specifications), faulty operation, lack of skill and negilgence or from any other cause not specifically excluded from the policy cover.
Electronic Equipment policy is specially designed to provide cover to Computer systems and all other types of Electric and Electronic eqipments. Material damage cover, Cost of restoratiion of data and increased cost of working covers are provided on ‘all risks’ basis.