Erection All Risks Insurance
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Erection All Risks Insurance

Why Erection All Risks Insurance Protection?

This Policy protects your financial investment in a project either as a Principal or as a Contractor. The policy can be taken by you as the Principal, Contractor, and Sub Contractor either individually or jointly.

What the Policy covers?

The policy offer covers at various stages of the projects including Storage, Erection, Testing, and Commissioning. This is a comprehensive policy to cover damage to your project arising from all unforeseen circumstances subject to certain named exclusions.

What the Policy does not cover?

Your policy does not provide coverage for loss or damage resulting from:

War and Nuclear group of perils Aesthetic Defects, Scratching of Painted or Polished surface, Breakage of Glass  Penalties for non fulfillment of contractual obligations 
Willful Act/ Negligence Loss or Damage due to Faulty Design, Defective Material or Casting and bad Workmanship (limited to items immediately affected)   Consequential Losses
Inventory Losses  Damage to files, drawings, accounts, bills and currency Cessation of Work – Partial or Total
Normal Wear and Tear, Gradual Deterioration, Rust  Cost of rectification or correction of any error during erection not resulting in physical loss or damage  Policy Excess - This is the first amount of any claim that you have to bear 

Please read the policy for complete list of exclusions.

What can be covered on payment of additional premium?

You may extend your policy by paying additional premium. Major optional extensions available are:

     
Air Freight Contractors Plant & Machinery up to specified limits  Third Party Liability 
Express Freight, Holiday and Overtime Wages  Storage Risk at Fabricators Premises  Cross Liability 
 Additional Customs Duty  Clearance and Removal of Debris   Surrounding Property  
Escalation Terrorism

Note: The details furnished above are only a summary of product features and do not describe the entire terms, conditions and exclusions of the Policy. For further details or clarifications on the Policy, contact RQBE officials or your insurance advisor. We shall be pleased to furnish further details.

 

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