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28-11-2012 Launching of new website

Manappuram Insurance Brokers Pvt Ltd launched new website in the domain maibro.in....

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Contractors All Risk Insurance

Contractors All Risk Insurance
Specially designed to protect the interest of civil contractors against the damage to or destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels etc).

These projects includes accidental damage to civil Construction works, contractor's plants & machinery at the construction site and damage / defects during the subsequent period of maintenance for which the contractors is liable under the terms of the agreement between the contractors and the principle.


Coverage
-Fire and Lightning
-Accidental damage like defective workmanship and material, lack of skill, Negligence, Malicious act or Human error.
-Water damage, Flood, Storm, Tempest, Inundation
-Collapse, Collision, Impact. Theft & Burglary Subsidence, landslide, Rockslide


General Exclusions
Loss or damage due to War or Warlike operations, Civil Commotion etc. Loss or damage due to Willful act or Negligence of the Insured or of his representative

Loss or damage due to Nuclear reaction, nuclear radiation or radioactive contamination. Loss discovered only at the time of taking an inventory. Loss or damage due to normal wear and tear, Gradual deterioration due to atmospheric conditions or lack of use, Rust. Loss or damage due to faulty design.


Period of Cover
The cover attaches with the commencement of work or after the items entered in the schedule of the       policy have been unloaded at the site whichever is earlier and shall expire on the date specified in the policy.     However, company's liability expires for parts of the insured contract works taken over or put into service by the Principal prior to the expiry date specified in the policy whichever shall be earlier.


Additional Covers
·Clearance & removal of debris.
·Construction Plant & machinery
·Insured's own surrounding property
·Escalation
·Third Party Liability
·Express freight
·Airfreight
·Extended maintenance
·Additional custom duty
·Earthquake
·Terrorism Damage
·Rating depends on:
·Type of Project
·Period of Project
·Sum Insured of project
·Deductible Franchise
·Location of Project
·Extensions opted