Contractors’ all risks insurance
This type of insurance provides cover to projects during their construction period until they are handed over to their owners. Coverage can also be extended to include post-construction which is referred to as the maintenance period. Examples of projects that can be covered under this type of insurance include: Construction of various types of residential buildings, administrative buildings, recreational buildings, and many other types of buildings such as hospitals, hotels, resorts, factories, and construction of roads, bridges, etc.

The insurance coverage provided by contractors’ all risks policies includes:


The material damage caused by fire, burglary, theft, and explosion, lack of skill, incorrect execution, flood, water flooding, hurricanes, earthquakes, and landslide (which are called: the natural hazards).
Moreover, this policy covers the liability for bodily injury and material damages caused to third parties owing to the execution of the works of those projects.

Plant & equipment insurance


This type of insurance covers the plant and equipment during operation, stoppage time whilst at rest or in the case of disassembly during cleaning or maintenance, as well as whilst reassembly at work sites.
Examples of plant and equipment that can be covered by this type of insurance are: Production machines in factories, molded products, turbine engines, cold store machines (refrigerators), faulty operations, wrong operation procedures or any other electrical causes.

Deterioration of stock insurance


This type of insurance insures the damage or loss that may be caused to the items stored in cooling rooms and refrigerators as a direct result of the breakdown of cooling machines.
Examples of the contents of cooling rooms and refrigerators are: fruits, vegetables, meat, fish, milk and dairy products, canned or cooked foods and certain types of medicines.

The insurance coverage provided by the deterioration of stock policy includes: Loss or damage that may be caused to the subject matter as a direct result of the breakdown or damage to the cooling equipment and machines, provided that such breakdown or damage is covered under the machinery breakdown policy. This policy shall cover the material losses or damages resulting from the rise or drop in temperatures in the cooling rooms and the sudden and unexpected leakage of the cooling gas (Freon) inside the cooling rooms causing the contamination of the insured goods.

Contractor’s Project Machinery Insurance


This type of insurance covers the contractor’s machinery and equipment during operation, stoppage time whilst at rest or in the case of disassembly during cleaning or maintenance, as well as whilst reassembly at work sites.

Examples of plant and equipment that can be covered by this type of insurance are: excavators, loaders, cranes, cement mixers, asphalt mixers, electric generators, and pumps, foundation crushing machines, grain blowers (augers), harvesters, graders, dumpers, fork lifts and the likes.

The insurance coverage provided by the contractors’ machinery and equipment policy includes: losses resulting from fire, burglary, explosion, collision, overturning, earthquakes, and landslides; it can also be extended to cover the risk of transportation and off-site mobility.

Electronic equipment insurance


The insurance coverage provided by the electronic equipment policy includes:
Unexpected or sudden loss of or damage to the electronic equipment that may result from fire, lightning, explosion, short circuit current, other electrical causes, water or any other liquids, defects of castings and defective materials, or operating fault.

Examples of such electronic equipment include:


Electronic equipment associated with computer devices, electronic medical devices (Radiology equipment, magnetic resonance devices, radiation devices, laser devices, medical analysis devices, diagnostic devices), electronic equipment associated with communication such as modern telephone networks, wireless networks, radar and receivers and transmitters of radio stations, radio, satellite stations, electronic equipment used in the studio such as imaging equipment, sound recording and re-playing equipment, and the like.

Boiler & pressure vessel insurance


This insurance provides cover against damage to any boiler or pressure vessel, damage (other than by fire) to surrounding property of the insured and legal liability for:
Death or bodily injury to any person other than the insured’s own employees or workmen or members of the insured’s family and damage to property not belonging to the insured or held in trust or on commission for which he is responsible.
The example of the items to be insured includes:
  • Steam boiler/ feed piping
  • Steam pressure vessel/ steam receivers i.e. steam jacketed pan, sterilizers
  • Domestic supply boiler
 

Installation All Risks Insurance


This type of insurance covers the construction projects during their execution periods until they are delivered to their owners.

This insurance includes the same coverage of Contractors’ All Risks Insurance. Moreover, it can be extended to include the periods of trials, commissioning, testing and maintenance.
Examples of projects that can be covered by this type of insurance include:
Installation of machinery, equipment and machines of all kinds (production lines, pumping stations, electric generators, turbines, cranes, central air conditioners, metallic installations and executions of works in general, for metal bridges, metal buildings, metal tanks and sewerage lines).
Installation All Risks Insurance may include civil works installations (construction of buildings or the like) which are considered a part of the same project, such as construction works for factories or concrete foundations for metal bridges.

The insurance coverage provided by the Installation risks policies includes the risks of fire, explosion, storms, floods, earthquakes, theft, electrical hazards, rupture and defects of installation and construction. This policy also covers the civil liability for bodily injury and material damage caused to third parties due to the installation, construction and execution of these projects.

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