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Contractors’ all risks (CAR) insurance

The CAR covers almost any sudden and unforeseen loss or damage occurring during the period of insurance to the property insured on the construction site as well as against third-party claims in respect of property damage or bodily injury arising in connection with the execution of a construction project. The most important causes of losses indemnifiable under CAR insurance are:
  • Fire, lightning, explosion
  • Flood, inundation
  • Windstorm of any kind
  • Earthquake
  • Theft, burglary
  • Bad workmanship, lack of skill, negligence, malicious acts or human error

The cover provided by CAR insurance is subject only to a few standard exclusions which the international insurance market usually applies.

Erection all risks (EAR) insurance

It covers almost any sudden and unforeseen loss or damage occurring to the property insured on the erection site during the period of insurance. The insurer will indemnify loss or damage due to the following causes:
  • Fire, lightning, explosion
  • Flood, inundation
  • Windstorm of any kind
  • Earthquake
  • Theft, burglary
  • Faults in erection
  • Negligence, lack of skill, lack of experience, malicious acts
  • Short-circuit, arcing, excess voltage
  • Excess pressure or vacuum, tearing apart on account of centrifugal force
  • Any other sudden and unforeseen event such as loss or damage due to collapse, foreign objects, on-site transport of items to be erected, etc.

Terms and conditions to apply are as Munich Re policy wording.

Electronic equipment (EE) insurance

Electronic equipment insurance is an “accident” insurance on an all risks basis covering sudden and unforeseen losses which physically affect the subject matter insured (electrical and electronic systems) such as:
  • Electronic data processing (EDP) equipment
  • Electrical equipment for medical use
  • Communication facilities
  • Lighting and navigation facilities
  • Equipment for research and materials testing

The insurer will indemnify loss or damage due to the following causes:
  • Fire, lightning, explosion, failing aircraft
  • Smoke, soot, corrosive gases
  • Water and humidity
  • Failure of air conditioning
  • Short circuit and other electrical causes
  • Design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, bad workmanship
  • Faulty operation, lack of skill, gross negligence
  • Malicious acts of workmen, employees, third parties
  • Burglary
  • Hail, frost

Contractors’ plant and machinery (CPE/CPM) insurance

It covers unforeseen and sudden physical loss of or damage to the insured items (plant, machinery and mechanical equipment at work, at rest or during maintenance operations) necessitating their repair or replacement. It is an all risks “accident” machinery due to one of the following causes:

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