Erection All Risk

Our tailor made insurance covers are comprehensive, with competitive terms provided by rated insurance companies in the region.

What is Erection All Risk Insurance?

As in all businesses, there are various risks involved when erection work is being carried out, as well as during the maintenance period that follows.

Erection All Risks Insurance provides adequate protection against loss or damage with respect to the site risks involved in erection of machinery and plants as well as steel structures of any kind.

It covers:

  • Contract works
  • Construction plant and equipment
  • Bodily injury or material damage to third parties resulting from the execution of the project

This cover is suitable for

  • The manufacturers or suppliers of machinery or plant
  • Companies commissioned with the erection work
  • The buyer of the machinery or plant to be erected

What is covered?

Section 1: Physical Loss or Damage

Covers loss or damage to contract works, materials or items being used in the contract works.

1

Accidental damage

2

Collapse

3

Fire and lightning

4

Aircraft

5

Impact collision

6

Earthquake

7

Malicious damage

8

Flood, storm and tempest

9

Cyclone and hurricane

10

Burglary

11

Breakdown or explosion to any part of the contract

12

Consequent Damages due to defects in material casting, workmanship and design

13

Strikes, Riot and Civil Commotions

14

Subsidence

15

Landslide

16

Faults in erection

Section 2: Third Party/ Legal Liability

This section covers your liability towards third parties arising due to negligence:

1

Compensation for accidental death or bodily injury

2

Damage to or loss of property excluding property belonging to or in the care, custody and control

3

Including legal costs incurred subject to the prior consent of the insurer

What is not covered?

1

Plant and equipment belonging to assured

2

Machinery breakdown

3

Unexplained losses

4

War, sabotage and terrorism

Period of Insurance

Policy covers the full contract period of the construction but you have the option to extend it to cover.

Deductible

A deductible for each and every loss under the policy may be applicable under some sections of the policy.

Premium rates are based on:

  • Contract Value
  • Limit of liability
  • Contract Period
  • Nature & type of project
  • Experience of the contractors in similar type of projects
  • Value of Construction Plant & Machinery
  • Extensions opted for

Important Information

Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.

For more information, please contact ( Premier Insurance Broker ) at +971 2 658 8880. 

Claim Settlement

You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.

Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact ( Premier Insurance Broker ) at +971 2 658 8880. 

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