Erection All Risks
Policy Overview
4
Coverage Items
4
Key Benefits
4
Related Policies
Scope of Cover
Coverage Scope
Any unforeseen and sudden physical loss or damage to insured property from any cause (except exclusions)
Specific Perils Covered
- Fire and lightning
- Accidental damage
- Act of God events
- Testing and commissioning risks
- Third-party liability (with selected limits)
Full protection during erection project execution
Coverage for repair or replacement necessitated by damage
Policy Benefits
Sum Insured: Not less than the full value of each item at completion including freight, customs duties, and erection costs
Premium: Depends on nature of erection work, period involved, type of civil works, and policy period
Comprehensive umbrella coverage for various project risks
Flexible premium based on project specifics