Contractors All Risk
We provide cover for all contractors, subcontractors, skilled tradespeople, and business owners involved in a project such as buildings, roads, bridges and docks. Specifically, it covers damage to ongoing work, materials, temporary structures, and equipment on the site for things like fire, theft, vandalism, natural disasters, and accidental damage.
Benefits
This policy is extremely useful for consulting engineers, architects, and financiers because it contributes to reducing the overall construction expenses and at the same time offers efficient financial protection for all parties concerned. The policy offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a civil engineering project.
Scope of Cover
Contractor's All Risk provides 'all risk' cover unless the hazard is specifically excluded. It covers the risk of fire ,lightning,explosion,flood, inundation, rain, snow, earthquake, theft, burglary, bad workmanship, lack of skill, negligence, human error etc
