Both of these policies protect you against accidents and damage caused by fire, lightning, explosions, earthquakes, landslides, typhoons, floods, short circuit (and other electrical causes), negligence, lack of skill, malicious acts, theft, and burglary.
Essentially, these policies provide cover on an all risks basis for physical loss or damage to the insured property, providing such loss or damage is of an unforeseen and accidental nature, and is not otherwise excluded from the scope of the policy.
Customized Coverage
Policies can be tailor-made to suit your requirements and protection needs. Large limits are available and coverage enhancements can be provided to include:
Commissioning and Operational Testing
Delay in Startup
Third Party Liability
Professional Fees, Expediting Expenses
Transit and Off-site storage
Maintenance Coverage
Contractor's Plant and Equipment
Advance Loss of Profits Insurance
It is a business income protection cover with the aim of covering the principal’s loss of gross profits resulting from a delay in completion of the construction or the erection works. This policy is not sold separately but as an extension of the CAR & EAR Policies.