Construction & Engineering

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

 

Your premium indication is based on

  • Nature of risk/occupancy
  • Sums insured/contract value
  • Period of insurance
  • Policy form and coverage
  • Location of risk
  • Deductibles
  • Expertise of contractors
  • Loss record
  • Loss control strategy

Forms

 

Wordings

These are tailored to each individual risk on a manuscript basis

 

Application Forms

These are not generally used in this class

Click here to view our Product Fact Sheet

 

Underwriters

Wong Jyh Lih

Wong
Jyh Lih

Underwriter, Engineering & Construction

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[Property Group]

Singapore

T +(65) 6536 8640

E []

Byran Lee

Byran
Lee

Underwriter Engineering & Construction

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[Property Group]

Singapore

T +(65) 6536 9916

E []

Hugh Phillips

Hugh
Phillips

Underwriter, Engineering & Construction

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[Property Group]

London, UK

T +44 (0)20 7674 7135

E []

Colin Rose

Colin
Rose

Underwriter, Engineering & Construction

[ View Profile]

[Property Group]

London, UK

T +44 (0)20 7674 7082

E []