This Policy protects your financial investment in a project either as a Principal or as a Contractor. The policy can be taken by you as the Principal, Contractor, and Sub Contractor either individually or jointly.
The policy offer covers at various stages of the projects including Storage, Erection, Testing, and Commissioning. This is a comprehensive policy to cover damage to your project arising from all unforeseen circumstances subject to certain named exclusions.
It covers all physical losses and damages arising from:
Fire, Lightning, Theft, Burglary and House breaking
Impact from falling objects, collision, failures of cranes or tackles etc.
Testing & commissioning risks:-
Failures of safety devices, leakage of electricity, insulation failures, short circuit, explosion (Applicable to EAR Policy only).
Acts of God:-
Storm, tempest, hurricane, flood, inundation, subsidence, landslide, rockslide and earthquake.
Your policy does not provide coverage for loss or damage resulting from
Please read the policy for complete list of exclusions.
You may extend your policy by paying additional premium. Major optional extensions available are
Note:The details furnished above are only a summary of product features and do not describe the entire terms, conditions and exclusions of the Policy. For further details or clarifications on the Policy, please refer policy wordings attached.