Construction & Engineering

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Overview

Construction is a booming global industry. The specialist and complex nature of these activities demand tailored insurance products to meet the needs of both principals and contractors.

Our highly experienced construction team, located in London and Singapore, is able to offer coverage on a variety of classes and products, including:

Contractors All Risks (CAR): Construction of buildings and/or civil engineering works
Erection All Risks (EAR): Installation, assembly, erection and testing/commissioning of machinery
Advance Loss of Profits/Delay in Start Up (ALOP/DSU): Loss of anticipated gross profit/rental income of the business as a consequence of sudden and unforeseen damage to the contract works under construction
Machinery Breakdown (MB): Sudden and unforeseen damage to plant and machinery
Machinery Loss of Profits (MLOP): Loss of gross profit or gross revenue of the business as a result of sudden and unforseen damage to insured plant and equipment
Electronic Equipment (EEI) and Computer Insurances: All risks coverage including fire and allied perils on computers and other electronic equipment including medical, communication
Plant and Equipment All Risks (P.A.R): All risks cover for any type of land based equipment but typically contractors plant, agricultural and forestry equipment, cranes.

Details

Coverage

All risks of physical loss or damage to insured property and associated business interruption and third party liability

We will pay these losses

Subject to the terms and conditions of the actual policy we will pay claims for:

Machinery Breakdown
Fire
Explosion
Windstorm
Flood
Earthquake
Collapse
Any other extraneous causes not specifically excluded

Limits available

US $50,000,000 PML

Target market

Building risks
Power generation risks (Construction)
Onshore oil and gas (Construction)
Light and heavy industries e.g. metals (Construction)

Key Territories

UK
Asia
Middle East
North America
Australasia

Information needed to obtain a quote

Type of risk/occupancy
Contract value/sum insured/loss limit
Location
Period of insurance including specific periods for construction/erection, testing and commissioning and maintenance
Deductibles
Coverage requirements
Underwriting submissions to include geotechnical reports and details of foundations
Method of working and materials to be used e.g. reinforced concrete building
Fire protection, fire prevention and site security arrangements
Survey report
Loss record
Contractors expertise and quality management accreditation e.g. ISO 9001:2000