Overall, engineering insurance plays a vital role in managing the risks associated with construction and engineering projects. It provides peace of mind to project stakeholders by mitigating financial losses that may arise from unforeseen events during the construction process.
By transferring risks to an insurance provider, project owners and contractors can focus on their core activities, knowing that they are protected against potential setbacks and liabilities.
Policies tailored to the specific needs of a project, taking into account factors such as Project Type, Size, Location and Duration.
Insurance covers a wide ranged of risks, including construction risks such as Accidents, Theft, damage to materials and equipment and testing and commission.
Contractor's all risks insurance is one of the most common forms of engineering insurance. It covers risks related to construction activities, such as damage to the worksite, materials, and equipment, as well as liability for injury to workers or damage to third-party property.
Provides coverage for equipment used in the construction process, including machinery breakdown and damage.
Protects against financial losses incurred due to project delays caused by insured events. This coverage can include compensation for additional expenses, loss of revenue, and increased financing costs.
Contractor's all risks insurance is one of the most common forms of engineering insurance. It covers risks related to construction activities, such as damage to the worksite, materials, and equipment, as well as liability for injury to workers or damage to third-party property.
Provides coverage for equipment used in the construction process, including machinery breakdown and damage.
Protects against financial losses incurred due to project delays caused by insured events. This coverage can include compensation for additional expenses, loss of revenue, and increased financing costs.
Construction values from US $ 40 million to US $ 250 million.
To several large projects in the last 20 years.
Have handled Marine construction i.e. most complicated as the risk.
