Engineering and other insurance

Construction businesses are laden with variety of risks that can take a heavy toll on finances and also halt projects.

Key Benefits:

• ​Comprehensive, continuous cover for any eventuality during construction period
• Various options available for the insured to choose specific additional coverage such as removal of debris, express freight, covering insured’s surrounding property, third party liability, etc.
• Flexibility for the insured to assign limits for the amount of additional coverage

Material Damage

• ​Damage to property insured against sudden and unforeseen causes that necessitate its repair or replacement.
• In case of repairs and replacements, the settlement is based on production of bills.
• In the case of total loss, settlement will be actual value immediately before loss less salvage.

Third Party Liability

​Legal liability for accidental loss or damage caused to property of other persons including property held in trust by or under custody of the Insured for which he is responsible, excluding any such property used in connection with construction thereon.

• Legal liability (liability under contract excepted) for fatal or non-fatal injury to any persons other than the Insureds own employees or employees of other firms connected with any other construction work or members of the Insureds family directly consequent upon or solely due to the construction of any insured property.
• Covers cost of litigation recovered by any claimant from the Insured.
• Also covers all costs and expenses incurred with the written consent of the Insurance Company.

Scope

• Fire, lightning, explosion, aircraft damage
• Riot, strike, malicious acts
• Flood, inundation, storm, cyclone and allied perils
• Landslide, subsidence and rockslide
• Burglary and theft
• Faults in erection
• Human errors, negligence
• Short circuiting, arcing, excess voltage
• Electrical and mechanical breakdown
• Collapse, damage due to foreign objects, impact damages
• Any other sudden, unforeseen, accidental damages not explicitly excluded