Erection All Risks (EAR) Insurance is designed to protect the interest of principals, contractors and Sub-contractors involved in erection of plants, machinery and heavy equipment, against their exposure to loss, damage or liability by a variety of hazards.
- Risk Covered
Accidental damage during transit, Fire and act of God perils, Theft, burglary, Faults in erection Negligence, lack of skill and experience in erection malicious acts, Explosion, collapse, short circuit, arcing, excess voltage.
- Key Points
Any sudden and unforeseen loss or damage occurring to the property insured on the erection site during the period of transit storage, erection, testing and commissioning will be indemnified.
This policy provides Material Damage Cover and has Third Party Liability cover as well with additional premium. Maintenance period coverage is also provided.
- Information Required
- Main Contractors/Sub Contractors
- Supervising Firm
- Commencement/completion date
- Period of construction
- Period of Maintenance
- Engineering Requirements(Drawings , blueprints etc)
- Subsoil Conditions
- Meteorological Condition
- Surrounding Areas.