Our Engineering Insurance family of products provide cover against sudden and accidental damage to plant, goods, machinery, or any other problems which may arise during a construction project and contract work.

Contractors’ All Risk (CAR)

CAR provides coverage against damage during a construction project, as well as third-party injury or damage claims. CAR insurance policies are customised according to the needs of the policyholder.

Erection All Risks

A comprehensive insurance which provides complete protection against all types of risks involved in the installation of machinery, plant and steel structures of any kind.

Machinery Breakdown and Deterioration of Stock

It provides cover against unforeseen and sudden physical loss or damage to plant, boilers and machinery whilst it is being dismantled for the purpose of cleaning, inspection and overhauling or removal to another position or in the course of these operations themselves or subsequent re-erection. Deterioration of Stock is an additional cover under the Machinery Breakdown which provides insurance protection of stock in cold storage occurring as a result of rise or fall in cooling temperature, the unforseen or sudden escape of refrigerants into the cold storage rooms or directly resulting from any material damage to the refrigerating plant.

All Risk Machinery

An insurance designed to cover the cost of repair or replacement of plant or machinery that is essential to the running of your business, arising from accidental causes, unless specifically excluded.

Tender bonds

It provides cover for the expenses incurred by the principal in the event that the awarded contractor decides to withdraw from such contract.

Advance Payment Bond

This is required when a contractor applies for an advance payment from the principal to help fund the preliminary costs and mobilisation works of the contract. It provides cover for the advanced payment made by the principal to the contractor as per the contract agreement for inability to continue to perform such work as per the agreement.

Performance Bonds

A performance bond ensures payment of a sum (not exceeding a stated maximum) of money in case the contractor fails in the full performance of the contract.

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