DESCRIPTION

The Contractor’s All Risk cover is aimed to offer assurance to a contractor who is responsible for building houses, apartment complexes, roadways and bridges, office buildings, schools, theatres, industrial areas, sewerage systems, dams, tunnels, waterways and so on, from the perils that may threaten the successful completion of the project.

These could be from natural hazards such as fire, earthquake, as well as theft, malicious damage and so on.

Furthermore, our CAR policy offers assurance to the insured from any expenses that they may be required to pay for third party property damage or bodily damage that may arise from the contractors carrying out their works (public Liability).

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COVERAGE

Cover is granted for the:

• Project under construction
• Equipment on site
• Plant and machinery used for construction
• Cost of debris removal

Our CAR policies are intended for:

• Contractors
• Owners-Employer

Against all risks – property damage:

• Buildings
• Machinery and equipment
• Merchandise/inventory/raw materials

Extensions:

• Accidental damage in underground services
• Accidental glass breakage
• Removal of ruins
• Compensation of Architects and Engineers
• Relocation expenses
• Loss of rent
• Loss of water meter
• Detection and access to water leakage or fuel
• Replacement of locks

Additional cover:

• Money
• Relocation of merchandise
• Employer liability
• Civil liability and product liability
• Alteration of products
• Personal Accidents
• Dishonesty of the employees
• Limit for each and every employee €160.000
• Limit per event or series of events €3.415.000
• Aggregate limit during any one period of insurance €5.125.000

The above limits of indemnity may not be sufficient given the ever increasing demands and compensations that are currently being awarded, hence we offer the facility to increase the limits of indemnity subject to underwriting of the risk and offering such increased limits in order to satisfy the employer.