Contractors’ All Risks/ Erection All Risks Insurance
During the construction and erection phases, KBZMS provides customized insurance solutions for risks ranging from transport, all the way to operational risks.
Product Highlights
Contractors’ All Risks/Erection All Risks Insurance provides protection against financial loss, offering the following covers:
Material Damage
Covers loss or damage to structural and civil works during construction or renovation projects.
Includes protection for electrical and mechanical equipment installation.
Covers the installation of switchgear, erection of manufacturing machinery, power plant machinery, and more.
Third Party Liability
Covers legal liabilities for accidental bodily injury, death, or physical loss or damage to third party property arising out of construction works
Premium Rate
Premium rates are determined based on factors such as:
Risk Location and Site Plan
Contract Period
Scope of Project
Security Management
Risk Assessment Report
Contract Price
Detailed claims experience over the past 3 years, etc.
Coverage & Benefits
What is Covered
Insurance Eligibility
What can be insured
Contractors’ All Risks:
Structural and Civil Engineering Works: Includes building and renovation projects, covering structural elements and civil engineering activities.
Erection All Risks:
Electrical and Mechanical Equipment Installation: Protects against risks associated with the installation of electrical and mechanical equipment such as switch gear installation, solar panels installation, and machinery erection.
Who can be insured?
Principal Owner
Main Contractor’s / Sub-contractors
Consultant Engineers
Period of Insurance
Covers the entire Contract Period, including both the installation phase and the maintenance period as defined in the contract.
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