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Contractors All Risk

As in all businesses, there are various risks associated during the construction work period and the maintenance period that follows.

Contractor’s All Risks Insurance provides adequate protection against losses or damages with respect to:

Contract works
Construction plants and equipment
Bodily injury or material damage to third parties resulting from the execution of a building project.

Risks Covered

Section 1: Physical Loss or Damage

Covers loss or damage to contract works, materials or items being used in the contract works from:

Accidental damage
Collapse
Fire and lightning
Aircraft
Impact collision
Earthquake
Malicious damage
Flood, storm and tempest
Cyclone and hurricane
Burglary
Breakdown or explosion to any part of the contract
Consequent Damages due to defects in material casting, workmanship and design
Strikes, Riot and Civil Commotions
Subsidence
Landslide

Section 2: Third Party Legal Liability

This section covers your liability towards third parties arising due to negligence:

Compensation for accidental death or bodily injury.
Damage to or loss of property excluding property belonging to or in the care, custody and control of the insured
Including legal costs incurred subject to the prior consent of the insurer.

Period of Insurance

Policy covers the full contract period of the construction but you have the option to extend it to cover

Maintenance period related to the contract works.
Decennial liability.

Extensions Available

Plant and equipment belonging to the contractor or in his custody and control whilst used in the contract works.

Property belonging to the principal
Design defect

Major Exclusions

Plant and equipment belonging to you
Machinery breakdown
Unexplained losses
War, sabotage and terrorism.

Deductible

A deductible for each and every loss under the policy may be applicable under some sections of the policy.

Premium Rate

Premium rates are based on:

Contract Value
Limit of liability
Contact Period
Nature & type of project
Experience of the contractors in similar type of projects.
Value of Construction Plant & Machinery
Extensions opted for

Important Information

Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.

For more information, please contact Nasco Gulf at +971 4 351 8610.

Claims Settlement

You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.

Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610