Risks associated with the execution of construction or engineering projects are varied – and that is why, we have core specialists in engineering insurance who scrutinize every individual project for unique sets of risk pattern that affects your execution plan!
Contractors All Risks Insurance: Contractors All Risks Insurance is specially designed to insure civil works, where a major portion of the work does not relate to erection or installation of any plant or machinery.
This insurance offers cover under two sections:
Section One covers any sudden and unforeseen physical loss or damage to the contract works.
Section Two covers your legal liabilities resulting from any Third Party Bodily Injury or Third Party Property Damage caused by an accident at the contract site. Cover can be extended to include construction plant and equipment, temporary buildings, maintenance period, offsite storage, inland transportation related to the project, etc.
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To provide you with our QUOTATION for standard civil works, we require the following basic information:
- Name of the Principal / Owner of the Project
- Name of the Main Contractor & Sub Contractor’s if any
- Contract Value (an estimate would be sufficient, if tendering)
- Contract Period with projected start date
- Scope of Works and location of work-site
- Limit of Indemnity required for Third Party Liability insurance
- A copy of the insurance condition of the contract, if available.
- For large projects (normally over USD 25 million) a detailed Execution Plan/ Method Statement, Time Schedule (Bar Chart), Site Report, Plans & Drawings, etc. will be required along with the above information.
Erection All Risk Insurance: Erection All Risks Insurance offers cover similar to Contractors All Risks Insurance with the exception that this cover is specially designed to insure engineering works where major portion of the work relates to erection or installation of any plant or machinery. The policy offers cover under two sections similar to a Contractors All Risk Insurance with an additional inbuilt cover for a 4-week testing period.
Annual Contract All Risk Insurance:This policy is designed to cover automatically all small civil engineering / maintenance contracts up to QR 5 million any one contract. The coverage offered is all risk. To provide you with our QUOTATION, we require estimated total value of all contracts whose individual contract value is below QR 5 million.
Plant & Equipment Insurance: Plant & Equipment Insurance is specially designed to cover your machineries, plants, cranes, equipment, etc… This insurance is ideally suited for contractors who use their construction plants and equipment on-site at their client’s premises.
To provide you with our QUOTATION, we require a detailed list of plant and equipment with value details. Please note that this insurance requires your plant and equipment to be valued at NEW REPLACEMENT VALUE to avoid under-insurance.
Electronic Equipment Breakdown Insurance:Electronic Equipment Breakdown Insurance, as the name suggests is specifically designed for electronic equipment and offers cover similar to the Plant & Equipment Insurance. However, this insurance has two additional sections offering cover for External Data Media under Section 2 (includes cover for expenses related to re-construction of information on data media following a loss covered under Section 1) and cover for Increased Cost of Working under Section 3 (additional expenditure for use of substitute equipment following a loss covered under Section 1).
To provide you with our QUOTATION, we require a detailed list of equipment with their value, model and make along with information on External Data Media and Limit of Indemnity required with respect to cover for re-construction of data and for cover under Section 3.
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