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Contractors' All Risks
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| Contractors' All Risks |
There are usually two main groups of named insured. They are the Principal and the Contractor(s). The Principal is the party who commissions the work. The principal will usually be the party who owns the building when completed. The contractor is responsible for the planning and execution of the contract works. Where nominated sub-contractors or other sub-contractors are engaged, they can be included under the policy.
There are two sections in this Policy of Contractors' All Risks :
Section I: Material Damage
This Section provides cover for loss or damage to the contract works caused by any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded.
Section II: Third Party Liability
This Section provides indemnity for the insured’s legal liability for accidental bodily injury or property damage to third parties occurring in direct connection with the contract works.
For more sophisticated operations, you would require a specially customised insurance program that offers maximum protection and flexibility. Our team of professional staff is well versed to provide you with all the necessary guidance and advice.
