ERECTION ALL RISK INSURANCE
The scope of cover is like the Contractor’s All Risks Insurance but specifically designed for Erection/Installation projects, where the values of the Plant/Equipment dominates the Contract Value.
This policy covers loss resulting from the accidental breakdown of almost any type of equipment that operates under pressure or that controls, transmits, transforms, or uses mechanical or electrical power. Machinery All Risks insurance provides an “all risks” cover, which means every hazard is covered which is not specifically excluded. This means that almost any sudden and unforeseen loss or damage to machinery while at work or at rest, in transit, or during overhauling, erection or dismantling occurring during the period of insurance will be indemnified.