Construction & Engineering

The basic concept is to offer comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant, equipment and machinery, 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. A CAR policy may be concluded by the principal or by the contractors engaged in a project, including all subcontractors. CAR insurance provides an 'all risks' cover – every hazard is covered which is not specifically excluded. This means that almost any sudden and unforeseen loss or damage occurring during the period of insurance to the property insured on the construction site will be indemnified. 

This branch of engineering insurance offers comprehensive and adequate protection against all the risks involved in the erection of machinery, plant and steel structures of any kind, as well as third-party claims in respect of property damage or bodily injury arising in connection with the execution of an erection project. EAR insurance provides very wide cover. Almost any sudden and unforeseen loss or damage occurring to the property insured on the erection site during the period of insurance will be indemnified. 

Third party liability insurance is a coverage for damages, losses or injuries that may be inflicted upon another party as a result of the actions of the insured. It is referred to as third party liability insurance because the coverage deals with the well-being of parties other than the insured (1st party) or insurer (2nd party).

Provides coverage for financial losses due to delays in construction and infrastructure projects. Advance loss of profit insurance (ALoP), provides a payout to companies that face higher costs or lost profits when a project takes longer than expected to complete due to an insured claim. Also called delay in start-up insurance (DSU). 

Contractor’s plant and equipment insurance covers all physical damage done to a contractor’s machinery that is not specifically excluded by the policy. This includes accidents not due to gross negligence and acts of God, such as falling trees or storm damage. The payments cover the cost to repair or replace the affected machinery, which is covered at work or rest, while on any job site owned by a third party and even when dismantled or reassembled for maintenance.

CECR insurance is designed to grant comprehensive cover for civil engineering structures after their completion. Losses emanating from the local geological conditions or arising out of the technical design of the structure or in connection with the operation and use of the structure predominate. CECR is typically for completed railways, highways, airports, tunnels or bridges.

MB was developed to offer the industry effective insurance coverage for plant, machinery and mechanical equipment at work, at rest or during maintenance operations. By its very nature, machinery insurance is an all risks 'accident' insurance for machinery supplementing the coverage afforded by fire insurance. Thus, it covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement. 

Offers coverage against damage to all types of fixed assets from unforeseen circumstances except the ones defined in ‘Exclusions’. In general, it covers against internal and external loss or damage, also due to natural catastrophes. It also covers the loss of revenue or profits occurred from physical damage to fixed assets.

Electronic equipment insurance, as the name implies, covers all electrical and electronic systems. Electronic equipment insurance is an 'accident' insurance on an all-risks basis covering sudden and unforeseen losses which physically affect the subject matter insured.

Business interruption is an insurance against loss of net profits and continuing fixed charges during a period of total or partial suspension of business activity because of damage to described projects from covered perils.