Purpose of Cover
Our CAR / EAR insurance covers all types of building and civil engineering construction including, amongst others, residential housing (both individual homes and large estates), commercial development (such as office blocks, warehouses and shopping centres) and civil infrastructure (such as roads, dams, sewerage reticulation and pipelines)etc.
The cover will indemnify the insured against the hazards which may threaten works whilst under construction or during the course of installation.
In addition, the cover can also be provided for electrical / mechanical installations and processing plants (sometimes called Erection All Risks).
Risk Profile of Losses
- Accidental Damage
- Explosion, Fire
- Flood, Rain, Storm, Water
- Subsidence, Landslip
- Theft / Burglary
- Windstorm
- Electrical & Mechanical Breakdown
Causes of Loss
- Elemental Perils
- Human Error (negligence)
- Operational Failure
Types of Policies
The Contract Works policy is an “all risks” form of indemnity catering for all risks except those which are specifically excluded.
Annual Policy
Ideal for contractors specialising in work of a similar nature and value
Examples:
- Housing
- Electrical
- Plumbing
Specific Policy
Appropriate when insurance requirements need to be tailor-made
Examples:
- Mega Projects (Durban Stadium)
- High risk projects (Dams)
- Unusual construction methods and / or materials
