The construction business including the residential, civil and commercial projects forms the second largest industry in India in terms of work force employed and the one with most hazards second only to the mining industry. Construction sites carry high risks as workers need to work in conditions that need extra caution for safety. Also, the […]
There are two types of losses payable by a construction all risk (CAR) policy: Material Damage Third Party Liability These conditions are derived from the principle of indemnity and ensure that the insured does not profit from the insurance claims. Conditions Applicable to Material Damage Claims Repairable damages should be repaired unless the cost of […]
Construction is vulnerable to various losses or damages. As a contractor, it is necessary for you to meet the client’s deadline. Here construction all risk insurance policy can help you by covering various risks during construction. Mainly, it offers coverage for physical loss or damage to the property, tools, plant & machinery, along with the […]
Do you know, around 47 deaths and 35 injuries were reported from over 60 accidents that occurred on the construction sites of four metro projects since 2013? A construction site is susceptible to various kinds of losses or damages. Any loss can mount from the theft, pilferage, legal claims and much more. As a contractor, […]
In construction all risk insurance policy, 72-hour clause signifies any losses or damages which occur during any period of 72 consecutive hours and which arises due to= Earthquake, subterranean fire, volcanic eruption, Earth movement or collapse Bushfire Wind, storm, hurricane, cyclone, typhoon, hail, rainwater, etc. Flood, it means the inundation of normally dry land by […]
As a building developer or contractor, it is necessary for you to safeguard your capital investments and work in progress or material which are bought for use in the project against various types of losses or damages. Here construction all risk insurance policy can help you. In addition, the policy would also help you by […]
As per the claim series clause, where a series of losses or damages or bodily injuries and deaths happen due to factors which are directly or indirectly related, then claims for such losses shall be added together and treated as one claim. Such claims shall be deemed to have been made at a single point […]
As a contractor, it is your prime responsibility to safeguard your capital investment against many losses or damages and ensure the completion of the work within the deadlines. To deal with unforeseen situations, there is a contractors’ all risk insurance policy which covers risks which may arise during construction. It includes physical loss or damage […]
As a building developer or contractor, you are required to take steps to safeguard your capital investments against various losses or damages along with the work in progress or the materials which were bought for use in the project. Here, the Construction All Risk Insurance policy can help you by covering losses or damages to […]
