Erection All Risks with coverage & exclusions etc.
Total Comments: 2
Posted: Thu Apr 02, 2009 10:24 am Post Subject:
Hi,
Erection All Risks Insurance is a form of comprehensive coverage for risks associated with the construction of plant and machinery. A property damage or a physical loss would be covered under it in addition to third party liability in relation with the contract site works.
Any kind of long term contracts or temporary constructions would be covered under this coverage. Apart from that any physical injuries or damages done to construction equipments (as mentioned in the contract) would also be covered under it.
Fatman
Posted: Fri Apr 03, 2009 12:25 pm Post Subject: (E.A.R) Erection All Risk Insurance
Plan particular: It includes all coverage of plant and machinery construction.It not only covers the physical damage of property but also the third party liability linked work on contracted site.
"All risk basis"includes the physical damage to property during the course of construction like accident, unanticipated causes.
Cover includes: coverage includes work induced for the purpose of erection & commission of plant on site and policy involves coverage for physical loss to construction plant, machinery, and equipments used.
General Exclusion: war, riot, strike, terrorism, permanent/temporary eviction, contaminated by radioactive material.
Posted: Thu Apr 02, 2009 10:24 am Post Subject:
Hi,
Erection All Risks Insurance is a form of comprehensive coverage for risks associated with the construction of plant and machinery. A property damage or a physical loss would be covered under it in addition to third party liability in relation with the contract site works.
Any kind of long term contracts or temporary constructions would be covered under this coverage. Apart from that any physical injuries or damages done to construction equipments (as mentioned in the contract) would also be covered under it.
Fatman
Posted: Fri Apr 03, 2009 12:25 pm Post Subject: (E.A.R) Erection All Risk Insurance
Plan particular: It includes all coverage of plant and machinery construction.It not only covers the physical damage of property but also the third party liability linked work on contracted site.
"All risk basis"includes the physical damage to property during the course of construction like accident, unanticipated causes.
Cover includes: coverage includes work induced for the purpose of erection & commission of plant on site and policy involves coverage for physical loss to construction plant, machinery, and equipments used.
General Exclusion: war, riot, strike, terrorism, permanent/temporary eviction, contaminated by radioactive material.
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