Contractor's All Risk Scope Of Cover Provides protection against loss or damage in respect of the contract works at contract site and third party claims arising in connection with the construction of a project. The Insured Parties The Principal, Contractor and all Sub-Contractors, Operators, Suppliers, Consultants, Financing Parties who are engaged in the contract/project. Note: Third party means any person other than those related to or working for the contract/project. Property Insured All the works to be performed under the contract whether they are preparatory, provisional or final together will all materials and equipments constituting them. In addition, the cover may include Third Party Liability, Construction Plant and Equipment, Construction Material, Clearance & Removal Of Debris, Professional Fees and Surrounding Property, Escalation,Maintenance Cover. Sum Insured The sum Insured must be similar with the contract value represents all the investment needed to carrying out the contract/project. Any increase in the contract sum must be notified immediately to the Company in order to avoid under-insurance and additional premium will be charged. Information required for Quotation Letter of Award (compulsory) Breakdown of sum insured/Contract value Scope of Works Layout and/or Location Plans Time schedule/Bar Chart Limit of third party liability Third party surrounding Properties and distance Exclusions Usual exclusions on nuclear and war damage. Consequential Loss on material damage. Cessation of work whether total or partial. Direct faulty design. The cost of replacement or rectification of the Property insured rendered necessary by defective material and workmanship but this insurance shall cover the cost of making good any damage to other Property Insured under this policy resulting from such defective material and workmanship. Loss or Damage to:- Loss of or damage to any items of plant machinery or equipment directly due to it's own breakdown, failure, breakage, derangement or explosion. Loss of or damage to any deeds, bonds, account bill of exchange, promissory notes, cash, bank notes, cheques, security for money or stamp. Loss or damage due to normal wear and tear, corrosion, rust, aesthetics defect, gradual deterioration or deterioration due the atmospheric and/ climate conditions. Loss of property either by disappearance or by shortage if such disappearance or shortage is only revealed when an inventory is made and the loss cannot be traced to any event. In respect of which a Certificate of Completion has been issued or which has been completed and handed over to or taken into used by the Principals or which arise after practical completion unless such loss and such loss and damage be occasioned during the Maintenance Period specified in the schedule or by the contractor in the course of any operations carried out by him for the purposes of complying with the obligations under the maintenance provisions of the contract.
|  Scope of Cover Provides protection against all the risks involved in the erection of machinery, plant and steel structures of any kind as well as third party claims arising in connection with the installation works of the project. The coverage commences from the unloading of items insured to erection work and until test operation has been completed excluding used/second-hand machines where cover ceases upon commencement of testing/commissioning. Insured The Principal, Contractor and manufacturer/supplier of the machinery or plant if they carry out the erection work. Note: Third party means any person other than those related to or working for the contract/project. Property Insured All kinds of erection and testing on individual machine, industrial machinery, industrial plants, steel works and/or structure. In addition, the cover may include Third Party Liability, Civil Engineering Works, Equipment for Erection, Clearance & Removal of Debris, Professional Fees and Surrounding Property, Escalation, Maintenance Cover,Contractor's Plant and Machinery. Sum Insured The sum insured similar with the value of the machinery or plant to be erected, and should includes freight, customs duties, dues and erection costs. The Insured undertakes to inform the Company on the increase of sum insured and an additional premium will be charged. Premium The premium is calculated at a rate applied to the sum insured and is charged for the full period of the contract and inclusive of testing period. Should there be any extension on period of insurance an additional premium calculated on pro-rata basis is chargeable. Premium on equipment for erection is charged on an annual basis. Information required for
Quotation
Letter of Award (compulsory) Breakdown of sum insured Scope of Works List of machines with respective value Layout Plans Time schedule/Bar Chart Limit of third party liability third party surrounding property and distance machinery origin and supplier Referred Risks Energy Heavy Industries High Technology Industries Declined Risk Off-shore Workmen
Compensation Insurance (Project) Introduction This insurance is designed to cover death or injuries suffered by employees arising out of their employment.It also indemnifies the Employer (Insured) if sued by employees for negligence, if this is extended. Coverage is not compulsory in respect of worker, subscribing to the SOCSO scheme although it may be taken up by the Employer (insured) if desired. Principal Compensations Available under Workmen's Compensation Ordinance Sum Insured i) Based on the estimated annual earnings of the employees. ii)Contract work, to take at least 10% of the contract value as wages for all workers Death And Nature of Disability Lump Sum Compensation(whichever is less) 1. Death 60 month earnings or RM 18,000.00 2. If the deceased workman has no dependents Funeral expenses or RM1,000.00
3.
Permanent total disablement adult who has completed his/her 18th year of age. 60
month earnings or RM 23,000.00 4.
Other adults 84
months earning or RM23,000.00
5. Minor 108 months earnings or RM23,000.00 6. Death following a period of total or partial temporary disablement Total of all half-monthly payments under (7) and lump sum payable for such death
should not exceed RM23,000.00 7.
Half-monthly payments for temporary disablement RM165.00
or one third of monthly earnings. Rating i) Premium rate is computed on the estimated anual salary of each employee ii)The Workmen's Compensation Tariff Rating table (as attached) currently serves as a guide iii)Agents are advised to refer to the company for guidance where lower rates are accepted to secure risks. Common Law Extension
in a Workmen's Compensation Policy. A loading of 10% to 25% if the Comon Law is extended in a Workmen's Compensations Policy. If the job is hazardous, the Common law limit should be restricted to a lower limit e.g. RM250,000.00 Underwriting Consideration i) The proposal form must be properly completed giving detail description of the work done by various employees ii)
Previous claim experience iii) To ensure that they are no moral hazards involved. e.g. : Employers with unsafe or hazardous place and system of work Safety Refer/Decline Risk Refer Risks i. Cleaning / painting works on outer buildings exceeding 30 ft. in height ii. Divers iii. Timber loggers iv. Acid and gas works v. Service and maintenance work on board vessels Decline Risks i. Aircraft crews ii. Asbestos related risks iii. All claims and losses resulting from work carried out to produce latex based products iv. Construction and maintenance of dams v. Contractors engaged exclusively in wrecking and demolition vi. Fire brigades vii. Manufacture and/or production, storage, filing, breaking down transport of a. fireworks, fuse(s), cartridges, ammunition, powder, nitroglycerine or any explosives b. gases and/or air under pressure in containers c. Butane, Methane, Propane, and other liquefied gases d. toxic substances and toxic waste (It is understood and agreed, however,that the storage and transport of any of the substances above mentioned which is merely incidental to the operations and/or trade of the company’s insured not otherwise excluded, is hereby covered) viii. Offshore rigs ix. Petroleum and gas exploration, production, drilling, producing, refining and distributing (other than general distributors and petrol stations). This exclusion also applied to general maintenance / repairs carried out by general contractors and incidental contracts directly related to (Petroleum and gas explosion) x. Quarries, if explosives are used, unless merely incidental to the operations and/or trade of the company’s insured not otherwise excluded. xi. Service in any kind of armed forces (military, police, security services) xii. Shipbuilding, ship repairing and shipbreaking xiii. Ships crews xiv. Subaqueous/Underwater works and laying of marine cables xv. The construction, maintenance and demolition of towers, steeples, bridges longer than 30 metres and chimney shaft unless merely incidental to the operations and / or trade of the company’s insured not otherwise excluded xvi.Tunnelling exceeding 100 metres in length xvii.Underground and underwater mines and all underground services in connection therewith CHAPTER I(d): UNDERWRITING GUIDELINE - NON-MOTOR - FOREIGN WORKERS COMPENSATION SCHEME 177 |
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Property-Casualty-Liability-Accident-Health /Hospitalization/Motor/MarineCargo/Transit/Liability/Travel/Engineering/Indemnity/Event Insurance Malaysia > Our Insurance Provision (我们提供的保险) >
Contractor's All Risk (承包商的所有风险)
Subpages (11):
2nd Principal Project EAR/CAR
3rd Principal Project EAR/CAR
4th Principal Project EAR/CAR
CAR & EAR Risk Presentation
Civil Engineering Completed Risks Policy
Construction Safety
(Contractor All Risk) in chinese
Contractor/Erection All Risk - Quotation Request
Dilapidation
Employer Liability _Project
Workmen's Compensation Policy Wordings
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Accident
