Construction All Risk Insurance (CARI) and Bonds


Covers loss or damage from any cause whilst in the contract site—from completion of unloading until, in the case of the works, the expiry of insurance; in the case of construction plant, the commencement of loading for dispatch from site or the expiry of insurance.

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CONTRACTOR’S ALL RISK (CAR) / ERECTION ALL RISK INSURANCE (EAR)

Covers loss or damage from any cause whilst in the contract site—from completion of unloading until, in the case of the works, the expiry of insurance; in the case of construction plant, the commencement of loading for dispatch from site or the expiry of insurance.

RISK COVERED

Fire/lightning, natural perils/acts of nature, landslip/subsidence, accidental damage, collision, collapse, impact, theft, malicious damage, breakdown and explosion, faults in construction/erection, negligence, lack of skill/experience, short circuiting, arching, excess voltage

EXTENSIONS OF COVER AVAILABALE

Construction plant and equipment, third party liability including vibration, removal, and weakening of support; inland transit, debris removal, professional fees, expediting cost, own surrounding properties, offsite storage, cover for testing and commissioning, consequential loss following defects, cover for riot, strike and civil commotion, maintenance period, temporary facilities

ELECTRONIC EQUIPMENT INSURANCE (EEI)

Covers all risk of sudden and unforeseen physical loss, destruction, or damage including but not limited to: fire/lightning, windstorm, typhoon, flood, earthquake, tidal wave, explosion, smoke damage, falling aircraft and vehicle impact, electrical injury, bush fire, water damage, landslide, subsidence, collapse, riot strike and civil
commotion, malicious acts, sprinkler and related fire fighting apparatus leakage,
burglary, robber y, theft, accidental dropping, faulty operation, lack of skill, bad workmanship

INFORMATION REQUIRED FOR PROPER COVERAGE

For CAR/EAR
• Assured’s name
• Address/Location of site
• Nature of project
• Duration
• Project cost
• Limit of liability (3rd party)
• Copy of contract

For EEI
• Assured’s name
• Address
• Nature of business
• Territorial/Geographical limits (for mobile equipment)
• List of electronic equipment to be insured
• Sum insured (valuation—replacement cost—new)

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