Erection All Risk (EAR) Insurance

EAR is a form of property insurance which provides protection against losses arising as a result of physical damage or accidents during the construction or installation period of any building, and/or civil engineering projects.

Construction of Residential Units/Condominiums.

• Office Buildings, Hospitals, Commercial Establishments, Theaters, Schools, Hotels, Dormitories, etc.
• Civil works and structures for Factories and Power Plants.
• Road Renovation or fit-out works

Some of the perils/hazard covered:

• Fire and Lightning
• Acts of God and/or natural calamities such as typhoon, flood, earthquake, inundation, landslide, rock-slide, subsidence.
• Theft and Burglary.

Requirements:

• Project Contract
• Scope of Work
• Breakdown of Values
• Bar Chart/Time Schedule
• Site Development Plan
• Construction Methodology
• Building Plans

Construction All Risk (CAR) Insurance

Installation of individual machinery, apparatus and assemblies such as turbines, generators, 5 steam boilers, compressor, internal combustion engines, electric motors, transformers, rectifiers, switch gears; Machine tools, pumps, elevators, crane conveyor belts, cable-ways; Erection of complete factories and industrial plants, such as electric power stations, sugar mills, plywood plants, cement plants, steel mills, paper mills, textile mills, refineries, fertilizers and chemical plants, food processing plants, etc.

Some of the perils/hazard covered:

• Fire and Lightning
• Acts of God and/or natural calamities such as typhoon, flood, earthquake, inundation, landslide, rock-slide, subsidence
• Any other sudden and unforeseen events, such as loss or damage due to collapse, foreign objects
• Short-circuiting, arcing, excess voltage

Two (2) Basic Sections of an EAR Policy

Section 1 -Material Damage Section

Insures erection and testing at the site of all kinds of individual machines or a conglomeration of machineries, it includes civil engineering works, freight, custom duties and dues/cost of erection. Clearance of debris and properties held in care, custody and control of the insured. Machinery, plant and equipment required for erection may also be included.

Section 2 -Third Party Liability Section

This covers for legal liability arising out of property damage or bodily injury (whether fatal or not) suffered by third parties in connection with the erection works and happening within the immediate vicinity of the erection site.

Maintenance Cover maybe granted to completed structures, the liability is limited to loss or damage caused by the Insured in the course of the operations carried out for the purpose of complying with the obligations under the maintenance provisions of the contract.

Electronic Equipment Insurance

Provides an all risks of physical loss, destruction, or damage to electronic equipment such as laptops, computer system, it covers the following but not limited to:

• Over-voltage, induction, damage through indirect lightning
• Fire / Lightning, Windstorm / Typhoon, Flood, Tidal Wave, Earthquake
• Explosion, Aircraft, Impact by Road Vehicles, Smoke Electrical Injury, Bush Fire
• Broad Water Damage, Water damage caused by the overflowing or bursting of water tanks, pipes or other apparatus
• Subsidence, Collapse and Landslide Riot and Strike, Civil Commotion, Malicious Acts
• Sprinkler and related fire fighting apparatus leakage Burglary, Robbery and Theft