Contractors All Risks Insurance
This form of insurance is intended to provide all risks cover, (subject to certain exceptions) in respect of both temporary and permanent works of all forms of construction, alterations, repairs, maintenance, rehabilitation and all other works carried out in performance of the contract.
The policy provides cover for damages to Temporary buildings whilst on the site of work, Site clearance and/or debris removal or propping up or shoring up , Third Party Liability (for accidental bodily injury or damage to properties arising out of and in the course of performance of the contract, Constructional plants, tools and equipment, Employees personal effects and tools/property meant for the contracts while in transit.
The policy can be extended to cover Materials designed for the contract site while in transit and Architect's and Surveyor's fees.