3th Principal Project EAR/CAR


Contractors' All Risk Insurance is specifically designed to cover the Insured against loss or damage in respect of contract works, construction plant and equipment and/or construction machinery as well as against third party claims in respect of property damage or bodily injury arising in connection with the execution of a building project

2. Company Philosophy

Contractors' All Risks Insurance has historically produced unfavorable results due to adverse claims experience. The risk exposure under this class of business is very high and insurers are often exposed to material damage claims resulting from flood, landslide, windstorm, collapse, fire and theft. In addition, insurers are also exposed to third party liability claims arising
 from damage to underground cables and pipes as well as surrounding properties.
In view of the adverse claims experience, we have therefore adopted a prudent and selective underwriting policy for this class of business.

3. Scope of Cover
A Contractors' All Risks policy may be concluded by the principal or by the contractors engaged in a project, including all subcontractors. Contractors' All Risk insurance provides an "all risk" cover every hazard is covered which is not specifically excluded. This means that almost any sudden and   unforeseen loss or damage occurring during the period of insurance to the property insured on the building site will be indenmified. 

The most important causes of losses indemnifiable under CAR insurance are:                                                  a) Fire, lightning, explosion; 
b) Act of God such as flood, inundation, windstorm of any kind, earthquake etc ;                                       c) Theft, burglary 
d) Bad workmanship, lack of skill, negligence, malicious acts or human error

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