ERECTION ALL RISK (EAR)

What may be covered?

• • Installation of individual machinery, apparatus and assemblies such as turbines, generators, 5steam   boilers, compressor, internal combustion engines, electric motors, transformers, rectifiers, switch   gears;
• • Machine tools, pumps, elevators, crane conveyor belts, cableways;
• • Erection of complete factories and industrial plants, such as electric power stations, sugar mills,   plywood plants, cement plants, steel mills, paper mills, textile mills, refineries, fertilizers and chemical   plants, food processing plants, etc.

Some of the perils/hazard covered:

• • Fire and Lightning;
• • Acts of God and/or natural calamities such as typhoon, flood, earthquake. inundation, landslide,   rockslide, subsidence;
• • Theft and Burglary;
• • Faults in erection;
• • Short-circuiting, arcing, excess voltage;
• • Bad workmanship, lack of skill, negligence, malicious acts or human error;
• • Excess pressure or vacuum, tearing apart on account of centrifugal force;
• • Any other sudden and unforeseen events, such as loss or damage due to collapse, foreign objects.

Two (2) Basic Section of the Policy

Section 1 -Material Damage Section

Insures erection and testing at the site of all kinds of individual machines or a conglomeration of machineries, it includes civil engineering works, freight, custom duties and dues/cost of erection.  Clearance of debris and properties held in care, custody and control of the insured.  Machinery, plant and equipment required for erection may also be included.

Section 2 -Third Party Liability Section

This covers for legal liability arising out of property damage or bodily injury (whether fatal or not) suffered by third parties in connection with the erection works and happening within the immediate vicinity of the erection site.

Maintenance Cover maybe granted to completed structures, the liability is limited to loss or damage caused by the Insured in the course of the operations carried out for the purpose of complying with the obligations under the maintenance provisions of the contract.

CONTRACTOR’S ALL RISK (CAR)

Contractor’s All Risk Insurance

is a form of property insurance; which provides protection against losses arising as a result of physical damage or accidents during the construction or installation period of any building, machinery installation and or civil engineering projects.

What may be covered?

• • Construction of Residential Units/Condominiums,
• • Office Buildings, Hospitals, Commercial Establishments, Theaters, Schools, Hotels, Dormitories, etc.
• • Civil works and structures for Factories and Power Plants
• • Road, Bridges, Piers, Dams, Water Supply and Drainage System.

Some of the perils/hazard covered

• • Fire and Lightning
• • Acts of God and/or natural calamities such as typhoon, flood, earthquake, Inundation, landslide,   rockslide, subsidence.
• • Theft and Burglary
• • Bad workmanship, lack of skill, negligence, malicious acts or human error.

Two (2) Basic Section of the Policy

Section 1 - Material Damage Section

Covers civil works or projects, construction plants and equipment and/or construction machinery (only during the course of construction) against sudden and unforeseen physical loss or damage from any cause other than those specifically excluded, occurring during the period of cover.

Section 2 -Third Party Liability Section

This covers for legal liability arising out of property damage or bodily injury (whether fatal or not) suffered by third parties in connection with the contract works and happening within the immediate vicinity of the construction site.

Maintenance Cover maybe granted to completed structures, the liability is limited to loss or damage caused by the Insured in the course of the operations carried out for the purpose of complying with the obligations under the maintenance provisions of the contract.