Erection All Risk Insurance:
• Erection All Risk Insurance starts from the pre-storage phase of the erection. It covers damage and loss which the constructor may face due to sudden and unexpected risks within the period elapsed until the acceptance of works undertaken.
• The scope of coverage of the erection all risks insurance can be expanded by getting additional coverage on machinery and equipment used for fulfilling assembly works, building site facilities, third-party financial liability, debris removal, overtime and serial transportation expenses, strike, lockout, disorder, civil commotion, terrorism, trial phase risks, etc.
• The validity period of the clauses provided by this insurance is limited to the project period and it expires upon the completion and delivery of the project.
• The amount covered or the insurance amount is the final value of the construction-erection or the project amount.