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Wednesday, May 25, 2022

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Contractors All Risk Insurance

Concept: This type of insurance is the perfect cover Loss or Damages to all kinds of construction projects such as buildings, roads, bridges & other civil constructions.

Coverage: This Policy will cover the policyholder against any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, to the project's property specified in the policy schedule In addition to indemnify the insured in respect of his legal liability toward third parties for accidental bodily injury to or illness and / or Accidental loss of or damage to property belonging to third parties occurring in connection with the construction works.

Further policy can be extended to include the following among others;

  • Underground Pipes & Cables
  • Expenses for Express freight, overtime chargers
  • Escalation
  • Owners surrounding property / own property
  • Extended Maintenance
  • Contractors Plant & Machinery
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