This cover is offered to projects, which primarily relate to Erection of Plant and Machinery.
This cover is designed to compensate against sudden and unforeseen accidental physical loss or damage during erection and during defect liability period and to meet the contractual obligations. This cover also includes testing risks for a pre-agreed period. The policy has two Sections to protect various contingencies associated with erection works.
Section I: Material Damage- This Section covers loss or damage to contract or erection works and other ancillary facilities on comprehensive basis
Section II: Third Party Liability- This Section provides indemnity towards legal liabilities of the insured to third parties in respect of bodily injury or property damage arising out of performance of the erection works.