How i can understand the existence period under the construction all risks insurance. Pls assist me in clarifying this issue
Total Comments: 8
Posted: Thu Jul 26, 2007 04:58 am Post Subject: existence period
My friend, I can only tell you that as per my understanding this existence period stretches from the date of commencement of the contract till the final completion as per the engineer's certificate. Regards, Fatman
Posted: Thu Jul 26, 2007 09:01 am Post Subject: initial work or property-unloading
Yes, me too of a similar opinion that it all begins with the initial work or follows the property-unloading process within the contract site. It lapses in varying proportions of the contracted work already executed or say the maturity date of the construction all risks insurance policy which ever is prior! juanita
Posted: Thu Jul 26, 2007 11:59 am Post Subject: Construction all-risk policy tenure
Hi, you want to know about the tenure of the construction all risks insurance policy, am I right? Well, the policy will cover all insurable risks for the tenure of the construction. This policy will also insure the business houses against the losses incurred for the delay in the completion of the job. But you need to specify the indemnity period for the same.
Best wishes.
Cynthia
Posted: Wed Jul 15, 2009 04:14 am Post Subject: Designers risk endorsment in CAR
Whether it is form of professional indemnity covetr.
Posted: Wed Jul 15, 2009 08:41 am Post Subject:
Hi duminda..
The relation is just that the Professional indemnity insurance covers a contractor's liability for various costs, damages and losses arising out of work performance.
But for construction all risks insurance, the all-risks physical damage covers equipments and all-risks transit covers for materials on site.
Hope, you were looking for that information!
Steven
Posted: Fri Jul 17, 2009 08:33 am Post Subject: Desingners Risk Endorsment-115
contarcor is identified that the one column of a bridge is having desing error after construction of that column.Now column has to demolish & rebuilt.Whether insurer is liable to pay such loss? please Explan
Posted: Fri Jul 17, 2009 12:06 pm Post Subject: Designers risk -Endorsment 115 CAR policy
Mr.Steven,
Contractor is identified that the one footing(Column) of a bridge is having design fault after construction of the said column.Now footing has to demoloshed,redesigned & reinstated.Whether the Insurer is liable to pay such loss under 115 endorment? Please Explain
Note-There are no resulting accidental damages to the other columns due to the said design failure. Please discussed this fact also.
Posted: Fri Jul 17, 2009 12:14 pm Post Subject: Fire policy
electrical motor is damage due to the lightning surge.But it is not a direct lightning & also you cannot see any visible damages to the motor.Please explain loss is covered or not as per the Electrical inclusion clause.
Posted: Thu Jul 26, 2007 04:58 am Post Subject: existence period
My friend, I can only tell you that as per my understanding this existence period stretches from the date of commencement of the contract till the final completion as per the engineer's certificate. Regards, Fatman
Posted: Thu Jul 26, 2007 09:01 am Post Subject: initial work or property-unloading
Yes, me too of a similar opinion that it all begins with the initial work or follows the property-unloading process within the contract site. It lapses in varying proportions of the contracted work already executed or say the maturity date of the construction all risks insurance policy which ever is prior! juanita
Posted: Thu Jul 26, 2007 11:59 am Post Subject: Construction all-risk policy tenure
Hi, you want to know about the tenure of the construction all risks insurance policy, am I right? Well, the policy will cover all insurable risks for the tenure of the construction. This policy will also insure the business houses against the losses incurred for the delay in the completion of the job. But you need to specify the indemnity period for the same.
Best wishes.
Cynthia
Posted: Wed Jul 15, 2009 04:14 am Post Subject: Designers risk endorsment in CAR
Whether it is form of professional indemnity covetr.
Posted: Wed Jul 15, 2009 08:41 am Post Subject:
Hi duminda..
The relation is just that the Professional indemnity insurance covers a contractor's liability for various costs, damages and losses arising out of work performance.
But for construction all risks insurance, the all-risks physical damage covers equipments and all-risks transit covers for materials on site.
Hope, you were looking for that information!
Steven
Posted: Fri Jul 17, 2009 08:33 am Post Subject: Desingners Risk Endorsment-115
contarcor is identified that the one column of a bridge is having desing error after construction of that column.Now column has to demolish & rebuilt.Whether insurer is liable to pay such loss? please Explan
Posted: Fri Jul 17, 2009 12:06 pm Post Subject: Designers risk -Endorsment 115 CAR policy
Mr.Steven,
Contractor is identified that the one footing(Column) of a bridge is having design fault after construction of the said column.Now footing has to demoloshed,redesigned & reinstated.Whether the Insurer is liable to pay such loss under 115 endorment? Please Explain
Note-There are no resulting accidental damages to the other columns due to the said design failure. Please discussed this fact also.
Posted: Fri Jul 17, 2009 12:14 pm Post Subject: Fire policy
electrical motor is damage due to the lightning surge.But it is not a direct lightning & also you cannot see any visible damages to the motor.Please explain loss is covered or not as per the Electrical inclusion clause.
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