Hotline Call Centre: 1500 674 (MSI)Contractors’ All Risks (C.A.R) Insurance
Protects construction works from ground-breaking to project completion.
Key features
Comprehensive coverage
Comprehensive coverage to protect construction works from ground zero until completely built
Cover civil work process
Third party liability
Cover the third party liability against property damage and bodily injury of the third party caused by the execution of the works
Plan highlights
Cover the contract works, construction plant and equipment
Cover construction of a civil engineering nature – housing developments, industrial buildings, blocks of offices, etc.
Cover the interests of manufacturers, suppliers, contractors and subcontractors – as extension
Other extension cover: additional custom duty, air freight, damage to surrounding property, debris removal, earthquake, escalation, loss due to breakage of glass, maintenance visits
Cover should begin in early of development project (i.e. cleaning phase, Foundation/Structure stage, Development/Erection stage, Mechanical & Electrical stage)
Plan details
This policy covers all construction risks to buildings and other structures except those excluded in the Policy wording.
This policy consists of 3 sections:
(1) Section 1 – Material Damage
This section covers damage to Property during the construction period caused by risks not excluded under the Policy.
(2) Section 2 – Third Party Liability
This section covers losses suffered by third parties, including loss or damage to property and bodily injury, arising as a result of material damage covered under Section 1.
(3) Section 3 – Covers the Insured’s Financial Loss
This section covers the Insured’s loss of gross profit resulting from reduced sales revenue and increased working costs if a loss covered under Section 1 occurs and causes a delay in the commencement of operations by the Insured. This third section is an extension of coverage that may be granted to prospective insureds subject to special consideration.
Extensions of Coverage:
Common extensions that may be granted include:
SRCC (Strikes, Riots, and Civil Commotion)
Debris Removal
Surrounding Property
General Exclusions:
The Insurer shall not indemnify the Insured for any loss, damage, or liability, whether directly or indirectly caused by, arising out of, or aggravated by:
a) War, invasion, acts of foreign enemies, hostilities (whether war is declared or not), civil war, rebellion, revolution, insurrection, civil commotion, riots, strikes, lockouts, disturbances, military power or usurped power, malicious persons or persons acting on behalf of or in connection with any political organization, conspiracy, seizure, arrest, restraint, confiscation, or destruction or damage under orders of any de jure or de facto government or any authority.
b) Nuclear reaction, nuclear radiation, or radioactive contamination.
c) Deliberate acts or willful negligence by the Insured or its representatives.
d) Cessation of work, whether total or partial.
Note: Please refer to RIPLAY for more specific exclusions.
