Contractors All Risk Insurance:

CAR policy offers comprehensive cover by covering risks which may arise during construction period. It offers cover for public liability, own plant, contract workers, and employees and gives them financial protection to the civil engineering contracts in the event of any accident. The key benefits of the policy are as follows:-

• Material damage-Under this loss, damage or destruction of property incurred due to any cause , other then those excluded in the policy, are covered.

• Third party liability coverages- Legal liability related to accidental damage or loss caused to the property of third party. Also legal liability for fatal and non fatal injuries caused to third person (other than the employee of the insured) due to construction of the property

Add on covers:

Cover can be extended up to a limit chosen by the insured on the following, on payment of additional premium:

• Express freight, Holiday and Overtime

• Airfreight

• Breakage of glass

• Additional customs duty

• Cost of Clearance & Removal of debris

• Earthquake

• Escalation

• Storage at Fabricator’s Premises/ Workshop

• Construction equipment like scaffolding, shuttering materials

• Contractor’s plant & machinery

• Cross liability

• Third-party liability

• Maintenance visits cover and Extended Maintenance cover to cover accidental loss or damage whilst carrying out any rectification during the maintenance period and/or any amount incurred for rectification of such original defects or faults during construction

• Owners surrounding property or damage to surrounding property not forming part of the contract work.

• Terrorism

Contractors Plant & Machinery Insurance:

The policy broadly covers loss or damage to the contractor’s following mobile equipment against an accident arising out of external perils:

• Road Rollers

• Concrete mixer, concrete pumps

• Pavers for asphalt or concrete finishing

• Cranes, Lifting equipment and drilling equipment Road surfacing equipment

• Vibrators

• Chain blocks, pulley blocks

• Site power-generating plant

• Mobile mixing plant

• Hauling equipment

• Excavators and loaders

• Earthmoving equipment: Bulldozer, grader, scraper, excavator, loader, dumper, etc

• Batching plant for the production of concrete of asphalt

• Bitumen tank sprayers

Risks covered

The following eventualities are covered:

• Fire and Lightning.

• Accidental damage like defective workmanship and material, lack of skill, Negligence, Malicious act or Human error.

• Water damage, Flood, Storm, Tempest, Inundation.

• Collapse, Collision, Impact.

• Theft & Burglary.

• Subsidence, landslide, Rockslide.

Loss or damage due to the following eventualities are not covered:

• War or Warlike operations, Civil Commotion etc.

• Wilful act or Negligence of the Insured or of his representative

• Nuclear reaction, Nuclear radiation or Radioactive contamination

• Loss discovered only at the time of taking an inventory

• Normal wear and tear, Gradual deterioration due to atmospheric conditions or lack

• Faulty design

Coverage The following events are covered by machinery breakdown insurance:

• Machinery breakdown due to short-circuits, excess voltage, and electrical faulty design, faulty material, and faulty casting that manifest after the warranty period due to electrical and mechanical breakdowns

• Abnormal operating conditions of the machine

• Falling, impact and collision resulting in breakdowns

• Carelessness and lack of operating skills in the operations and management of machinery

• Turbines bursting, compressors, hydraulic cylinders or other apparatus which is subjected to centrifugal force or internal pressure

• Damage or loss due to initiation of fire from within the machinery is also included which is generally excluded from the standard fire protection policy

Special Exclusions include the following:

• Fire and allied perils, theft, etc.

• Loss or damage as a result of to overload experiments

• Gradual development of abnormalities, defects, cracks etc. in any part being ignored regularly in spite of knowing it demands repair

• Regular wear and tear of the machinery

• Pre-existing faults or defects in the machinery before the policy commencement

• Loss of use of the machinery due to conditions in the plant or factory or any other kind of consequential loss incurred by the insured

• Loss or damage because of explosions in chemical recovery boilers

• Damage to belts, chains, ropes, rubber tyres or any other exchangeable tools unless any loss or damage to the machinery is indemnifiable

Scope

EAR cover begins from the time of unloading of the first consignment at the project site and terminates on completion of testing or handing over of the project to the principal employer, or the period chosen, whichever is earlier.

The following are the eventualities against which you are covered:

• Fire, lightning, explosion, aircraft damage

• Riot, strike, malicious act

• Flood, inundation, storm, cyclone and allied perils

• Landslide, subsidence and rockslide

• Burglary and theft

• Faults in erection

• Human errors, negligence, lack of skill

• Short circuiting, arcing, excess voltage

• Collapse, damage due to foreign objects, impact damages

Boiler & Pressure Plant Insurance:

Boilers and Pressure vessels are critical to the manufacturing process. Even a small damage can cause these to explode or collapse. The impact from such events could assume catastrophic proportions, both in terms of the lives that it can affect and the financial losses that it can cause. This policy covers physical loss or damage to boilers and/or other pressure plants where steam is being generated.

This policy covers boiler & pressure vessels owned by you and located at your premises against explosion, implosion and collapse leading to:

• Damage to the boilers & pressure vessels

• Damage to surrounding property, up to fixed limits, arising due to explosion & collapse of the pressure plant during the normal course of work

• Third-party legal liability, up to set limits, arising due to:

• Death or bodily injury to third parties

• Damage to property of third parties (not held in trust or on commission) caused by and solely due to explosion or collapse occurring during ordinary working.

Electronic Equipment Policy

Electronic Equipment Insurance caters to the peculiar needs of the electronic equipments which are not only extremely sensitive to the slightest changes in ambience conditions but also are characterized by having a large value concentration in a relatively compact set ups.

The policy provides coverage against unforeseen and sudden physical loss or damage to the electronic equipment and data media that occurs owing to perils other than those specifically excluded. Three sections are providing the desired coverage:

Section 1: Equipments

• Covers any unforeseen and sudden physical loss or damage to electronic equipments.

Section 2: External Data Media

• Expenses incurred within 12 months from the date of occurrence of loss, necessary for restoring the insured data media to pre-accident condition will be covered.

Section 3: Increased Cost of Working

• Covers all additional costs incurred to ensure continued data processing on substitute equipment.