Contractors' All Risks
Construction is a high risk industry. Accidents, including personal injuries and property damage happen all the time, and these accidents cost the contractor money.
The policy is written to enable the Contractor or Employer to comply with the insurance requirements of the Contract and to cover the liability of the contractor for loss or damage during the maintenance period.
Coverage includes three (3) sections:
Material Damage-covering physical loss, damage or destruction of the property insured by:
Fire, Earthquake, aircraft and other aerial devices, storm, tempest, flood, bursting of pipes, collapse, malicious damage, strike, riot, civil commotion, explosion.
Third Party Liability-covering the legal liability falling on the insured contractor as a result of:
Accidental bodily injury to third parties.
Accidental loss or damage to property belonging to third parties.
Court and Legal expenses.
Contractor’s plant and machinery cover like:
Drilling machines, cranes, pile driving devices, trucks, bulldozers, machinery, girders, storages, offices, clearance and removal of debris, offices, storehouses, tool-rooms etc.
Kentriki Insurance Company Ltd Customer Service and its network of associates all over Cyprus are at your disposal to provide you with more details.