Scope of Cover Provides protection against loss or damage to completed civil engineering structures. Such loss or damage must have been caused by Acts of God, Impact of vehicles, vessels and aircrafts and vandalism. Insured The Owner, Developer, Government, Concessionaire and Financial Institutions. Items Insured All types of civil structures such as bridges, runways, roads, reservoirs and jetties. This policy can be extended to cover removal of debris and loss of profit. Sum Insured New replacement value of the same kind and capacity which includes cost of materials, wages, freight, custom duties and dues. Under-insurance applies if the sum insured does not correspond with the replacement value of the items on the date of loss. Premium The premium is calculated at a rate applied to the sum insured and on annual basis. Minimum Premium: RM500.00 Information required for Quotation Year of construction Type of structure to be insured Condition of structure Maintenance schedule Claims experience |
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