If you are into the construction business or have been associated with it in any way, you might have a fair idea of how susceptible your construction site is. A construction site is vulnerable to various kinds of losses or damages which can arise from theft, legal claim, damages, and more. Key Takeaways The Scope […]
What is Excess in Engineering All Risk Insurance and how does it affect the premium?
The engineering all-risk insurance policy covers the insured against any unforeseen and physical loss of or damage to the insured items. Such damage to plants or machinery may necessitate its repair or replacement. In engineering all-risk insurance policies, an excess clause is present. The excess clause states that the asset owner must bear the minimum […]