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  • Contractor All Risk Insurance

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    HITESH
    724 vues2 pages
    CAR is an insurance policy specially designed to protect the financial interest of principle, civil contractors against the damage or destruction to projects undertaken by them. Policy can be issued in joint name of contractor and principal. By every hazard we mean any sudden and unforeseen loss or damage of the property insured, which occurs during the period of insurance.

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    CAR is an insurance policy specially designed to protect the financial interest of principle, civil contractors against the damage or destruction to projects undertaken by them. Policy can be issued in joint name of contractor and principal. By every hazard we mean any sudden and unforeseen loss or damage of the property insured, which occurs during the period of insurance.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    724 vues2 pages

    Contractor All Risk Insurance

    Transféré par

    HITESH
    CAR is an insurance policy specially designed to protect the financial interest of principle, civil contractors against the damage or destruction to projects undertaken by them. Policy can be issued in joint name of contractor and principal. By every hazard we mean any sudden and unforeseen loss or damage of the property insured, which occurs during the period of insurance.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 2

    NEW PROPERTY & CASUALTY INSURANCE

    CONTRACTORALLRISKINSURANCE WhatisCAR CAR is an insurance policy specially designed to protect the financial interest of principle, Civilcontractorsagainstthedamageordestructiontoprojectsundertakenbythem,whre thevalueofthecivilworkismorethan50%ofthetotalprojectvalue. Whoshouldbuy Theprinciple,maincontractorfortheentireprojectincludingthesubcontractorscantake thepolicytocovertheirinterest.Thepolicycanbeissuedinjointnameofcontractorand principal. WhatdoesCARCover This is an all risk insurance policy. This means every hazard is covered unless specifically excluded. By every hazard we mean any sudden and unforeseen loss or damage of the propertyinsured,whichoccursduringtheperiodofinsurance. o ProvidescoverforMaintenanceandTestingperiodaftercompletion(generally12months) o CPMpolicycanbeclubbedwithCAR PeriodofInsurance Theperiodofinsurancecanbe 1. OpenCARAnnualPolicywhichcanberenewedeveryyear. 2. Project Policy as per contract terms and time frame (can be more than 12 months). If the project is not completed in time, the policy can be extended to desiredlimits. DecidingSumInsured Suminsuredshouldbecompletevalueofcontractworks.Itshouldincludelandedcostof material, expenses of constructions, wages, freight, customs duties, construction costs, permanent civil engineering works etc. Escalation of Sum Insured is granted under the policy. FewImportantExtensionsAvailable 1. ThirdPartyLiability 2. CrossLiability 3. Ownerssurroundingproperty 4. Clearanceandremovalofdebris 5. Lossminimizationexpenses 6. AdditionalCustomDuty 7. Extrachargesforovertime,workonpublicholidays,expressfreight AddOnCover 1. Equipmentslikeshutteringandscaffolding 2. Damagetosurroundingpropertynotformingpartofcontractwork 3. Professionalfees 4. Designdefectcover

    For More Details Please Contact


    NEWPROPERTYCASUALTY@GMAIL.COM KHRISTYHITESH@GMAIL.COM

    NEW PROPERTY & CASUALTY INSURANCE


    For More Details Please Contact


    NEWPROPERTYCASUALTY@GMAIL.COM KHRISTYHITESH@GMAIL.COM

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