The basic concept of Erection All Risk insurance is to offer a comprehensive protection against ‘All Risks’ involved in erection and installation of major and complex plants and machineries. This is now an indispensable and integral part of any project – be it Gas Power Plant or Thermal Power plant project. Erection All Risk is a comprehensive insurance policy designed to cover all sorts of contingencies arising right from the moment the materials are unloaded at the project site.
The cover continues during the entire period until the project is tested, commissioned and handed over to the Principal. There is a provision to include the marine transit risks of plants and machineries as an extension. The scope of coverage is on all risk basis. The policy has two sections namely Section I – Material Damage and Section II – Third Party Liability. Cross Liability between the various parties named as insured’s under the policy can also be insured.
Our Team has the desired expertise to guide you through the policy selection process suitable for your project.