Key highlights
Comprehensive Coverage
Offers broad protection against risks such as testing, commissioning failures, Acts of God (natural disasters), handling risks, and other unforeseen events.
Third-Party Liability
Covers legal liabilities for bodily injury or property damage sustained by third parties due to accidents related to the insured project.
Financial Protection
Mitigates financial risks by covering repair costs, replacements, and expenses from project delays caused by insured perils.
Extended Maintenance Cover
Beyond regular maintenance coverage, it also includes damages occurring during the maintenance period but originating from incidents during the erection phase.
Equipment and Machinery Safeguard
Protects against loss or damage to essential machinery, construction tools, and heavy equipment due to mechanical failures or operational hazards.
Delay in Start-Up (DSU) Cover
Covers financial losses resulting from delays in project completion due to insured damages, ensuring business continuity.
Exclusion
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Faulty Design & Workmanship
Defective materials, faulty designs, or poor workmanship that directly cause damage (only the directly affected component is excluded).
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Intentional Damage
Losses due to deliberate misuse, negligence, or intentional harm caused by the insured party.
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Acts of War or Terrorism
Damages resulting from war, terrorism, riots, civil unrest, or sabotage are typically excluded.
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Physical Damage Exclusions
Expenses related to rectifying erection faults unless they result in consequential physical damage.
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Wear & Tear or Gradual Deterioration
Damage from regular wear and tear, corrosion, or aging of machinery over time is not covered.
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Nuclear & Radioactive Contamination
Any loss or damage caused by nuclear reactions, radiation, or radioactive contamination is excluded from coverage.
Types of Engineering Insurance
Contractors All Risks (CAR) Insurance
Comprehensive coverage for construction projects, including damage to materials, site structures, and construction equipment.
Machinery Breakdown Insurance
Protects against financial losses due to sudden and unforeseen breakdowns of essential machinery and equipment.
Erection All Risks (EAR) Insurance
Provides coverage during the installation and erection of plant machinery, including risks arising from handling and testing phases.
Boiler and Pressure Plant Insurance
Covers damage or loss due to explosions, collapses, or operational malfunctions in pressure vessels and boilers.
Electronic Equipment Insurance (EEI)
Offers protection against damages to delicate electronic systems and IT infrastructure due to electrical failures, fire, or accidental impact.
Civil Engineering Completed Risk (CECR) Insurance
Covers completed engineering projects, including bridges, tunnels, and roads, against unforeseen damage post-construction.
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Why It’s Essential?
Ensures financial protection for plant, machinery, and equipment against unexpected loss or damage during storage, erection, testing, and commissioning.
Provides financial security from the moment materials arrive at the project site, during storage, physical construction, test runs, and maintenance phases.
Certain policies like CAR and EAR insurance may be legally required or contractually mandated for construction and engineering projects.
Assists in identifying and managing potential risks, reducing financial losses due to construction, machinery breakdowns, or operational failures.
Protects businesses from monetary losses caused by project delays, ensuring that operations resume swiftly after an insured event.
Covers damages due to external perils like fire, natural disasters, theft, or unexpected project disruptions.
