Contractors' All Risks Insurance cater mainly to the protection needs of the construction industry. This policy is designed to provide protection against losses or damages in respect of the contract works at contract site and third (3rd) party claims arising in connection with the construction of a project. With additional premium, the cover may include Construction Plant and Equipment, Construction Machinery, Removal of Debris, Professional Fees and Principal’s Existing Property. Duration of cover corresponds with the contract period which is stipulated in the Letter of Award.
Allianz Insurance Laos
Engineering & Machinery
1. Contractors’ All Risks (CAR)
2. Erection All Risks (EAR)
The Erection All Risks insurance covers all kinds of erection and testing on individual machine, industrial machinery, industrial plants, steel works and/or structure as well as third (3rd) party property and/or bodily injury arising in connection with the erection work. The cover may include Civil Engineering Works, Equipment for Erection, Removal of Debris, Professional Fees and Principal’s Existing Property. Duration of cover corresponds with the contract period which is stipulated in the Letter of Award.
3. Contractor’s Plant & Machinery (CPM)
Construction plant and machinery can be covered against all risks of accidental loss or damage whilst it is operating at construction site.
The Policy can be issued on yearly basis or depending on project period.
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