Insurance Policies

Construction

During the construction phase, the assets under construction are exposed to various risks, most of which are insurable.

Overview

Constructions can be categorised under two broad groups: civil construction and electro-mechanical installations. Insurance policies can cover both these types of constructions. These policies are valid during the entire length of construction and if the constructions are delayed, the policies can be extended also.

Insurance Products

Contractors All Risk Policy (CAR)

Suitability This policy is designed to protect the interest of civil contractors and Firms involved in construction activity against the…

Storage-cum-Erection/ Erection All Risks (EAR)

Act of God Earthquake (Add on Cover) Volcanic Eruption Storm / Cyclone/ Tempest /Tornado/Typhoon / Hurricane Flood & Inundation Social…

Contractors Plant and Machinery (CPM)

The policy covers loss or damage to all types of contractor’s construction equipment such as bulldozers, cranes, excavators, compressors, etc.,…

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Insights

Mitigating The Risks Associated With Standstill Period Under Projects

The aim of this article is to bring to light the ways of mitigating the risks prevalent during standstill period…

Free Covers in C.A.R. Insurance

Insurers give certain free covers in the C.A.R. policy if the sum insured is more than Rs 100 crores (INR…

Dewatering Warranties & Exclusions

A dewatering warranty or exclusion is commonly added to the C.A.R. policy – especially if the policy concerns a civil…

Design Defect Cover in C.A.R.

There are five DE exclusions and they fall in three categories; Outright Exclusion, Cover for Consequential Damage, Exclusion for Betterment…

Professional Indemnity Insurance for Civil Contractors

The exposures faced by contractors have become more complicated as a result of changes in project delivery systems over the…

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Industry News

India is a land of festivals, and not just people but also insurers keenly await the onset of festivals. Large-scale…

The Insurance Regulatory and Development Authority of India (IRDAI) in a bid to strengthen governance measures in Insurers’ operations has…

The Insurance Regulatory and Development Authority of India (IRDAI) introduced a comprehensive Master Circular to simplify and modernize the general…

Optima Insurance Brokers Pvt. Ltd.

Construction

Overview

Insurance Products

Contractors All Risk Policy (CAR)

Storage-cum-Erection/ Erection All Risks (EAR)

Contractors Plant and Machinery (CPM)

Insights

Mitigating The Risks Associated With Standstill Period Under Projects

Free Covers in C.A.R. Insurance

Dewatering Warranties & Exclusions

Design Defect Cover in C.A.R.

Professional Indemnity Insurance for Civil Contractors

Downloads

Policy Snapshots

Policy Wordings

Proposal Form

Claim Form

Industry News

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