Contractors’ All Risks | Erection All Risks

Build without risk. Grow with confidence.

What is Contractors’ All Risks & Erection All Risks insurance?

These 2 policies are designed to meet the insurance obligation placed upon Contractors under the contract conditions.

Contractors’ All Risks
Covers buildings and civil engineering works under construction
Erection All Risks
Covers plants, machinery, equipment and steel structures like bridges in the course of erection

Key coverage

Here is an overview of your coverage

Contractors’ All Risks / Erection All Risks

Material Damage
Covers against sudden and unforeseen physical loss or damage to contract or erection works/property/items
Third Party Liability
Covers third party liability for which we shall become legally liable to pay as damages consequent upon
- Accidental bodily injury or illness of third party
- Accidental loss or damage to property belonging to third party
  Occurring in direct connection with the works and happening at or in the immediate vicinity of the site.
  The indemnity is also provided for legal costs and expenses provided the liability is within the limit of liability insured.

How much is my premium?

Your premium may vary, depending on

Risk exposure
Our underwriting requirements

Product literature

What we don’t cover

Contractors’ All Risks

War, civil war and any act of terrorism
Radioactive and nuclear energy risks
Willful acts or willful negligence
Wear and tear
Faulty design
Cost of replacement, repair or rectification of defective material and/or workmanship
Mechanical and/or electrical breakdown or derangement of construction plant and machinery
Consequential loss of any kind
Seepage, pollution and contamination

Erection All Risks

War, civil war and any act of terrorism
Radioactive and nuclear energy risks
Willful acts or willful negligence
Wear and tear
Faulty design, defective material or casting and/or bad workmanship
Mechanical and/or electrical breakdown or derangement of construction plant and machinery
Consequential loss of any kind, including penalties, losses due to delay, lack of performance, loss of contract
Seepage, pollution and contamination

Note:
This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under the respective policy.

Important information

This plan is underwritten by Tokio Marine Insurans (Malaysia) Berhad. All benefits and features mentioned herein are subject to terms and conditions of the policy. You must refer to the policy contract for the precise terms and conditions of this insurance plan. The information is for reference only and is accurate as at 22 June 2012.

Note: You should satisfy yourself that this policy will best serve your needs. You should read and understand the insurance policy and at all times, feel free to contact us for more information.