For any kind of contracts, no matter it is Civil Engineering Contract, Electrical & Mechanical Contract, Marine Engineering Contract &/or Interior/Exterior Decoration Contracts, there may be financial loss or liability arising out of unforeseeable accidents during the contract period. Contractors’ All Risks Insurance provides indemnity to the Contractor &/or other parties for the following:
Section I – Material Damage
It provides “All Risks” coverage for loss of or damage to the insured contract works or materials at the contract site caused by Fire, Water, Explosion or Burglary etc.
Section II – Third Party Liability
This provides protection against legal liability in respect of third party bodily injury &/or property damage arising out of the contract work.
Usually, the following free extensions are included
- Damage to Principal’s Property
- Maintenance period cover
- Cross Liability Cover
We could arrange policies which are acceptable to major Landlords/Developers, including, but not limited to the following
- Cheung Kong Development Co
- Sun Hung Kai Properties Development
- Sino Group
- Henderson Property
- HongKong Land