The scope of cover is like the Contractor’s All Risks Insurance but specifically designed for Erection/Installation projects, where the values of the Plant/Equipment to be erected dominate the Contract Value.
Scope of Cover
This cover is offered to Contractors and Principals and their subcontractors engaged in erection activities.
The Policy comprises of 2 Sections:
Section I – Material Damage
Covers physical loss, damage or destruction of the property insured by any cause
Section II – Third Party Liability
Covers the legal liability of the Insured as a result of bodily injury to third party or property damage belonging to a third party arising out of performance of the contract works
