This insurance provides all risks cover against loss or damage to property and third party liability on accidental bodily injury or property damage in connection with the performance during the contractual period.
What can be covered?
- Material Damage – Provides cover for loss or damage to the contract works caused by unexpected physical loss or damage during work on site other than those specifically excluded.
- Third Party Liability – Provides insured legal liability against accidental bodily injury or property damage to third parties directly in connection with the contract works.
- Workman Compensation – Provides protection for the workers performing works directly in connection for the contract. 10% to 20% of the contract value as the sum assured.