PROPERTY & TRANSIT

Erection All risk

Erection all risks Insurance programme covers the risks involved during various industrial erection and testing on an individual machine, industrial machinery, industrial plants, steelworks and structure and third-party property and bodily injury arising in connection with the erection work. The cover may include Civil Engineering Works, Equipment for Erection, Removal of Debris, Professional Fees and the Principal’s Existing Property.
Sum insured for EAR is the Completely erected value of the property inclusive of freight and customs duty Insurance commences from the date of arrival of 1st consignment at the site of erection. Shall continue until expiry of the policy period or completion of the project (whichever is earlier ) Insurance

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The premium for the EAR Insurance programme works on the following factors.

  • Nature of project
  • Project period
  • Sum insured
  • Duration of testing
  • Policy excess opted
  • Additional covers
  • Compliance of minimum fire protection

GlobeSecure EAR Policies is tailored with utmost care and with proper orientation to clients.

The core factors for designing a tailored EAR policy is the following factors:
  • Extension beyond the policy period
  • Refund of premium for early completion of the project
  • INSTALMENT PREMIUM
  • Cover for catalyst
  • Extensions
  • Construction Plant and Machinery
  • Surrounding property with or without FLEXA
  • Automatic Reinstatement of sum insured above 10%
  • Clearance and removal of debris
  • Off site storage/fabrication
  • TPL (cross liability)
  • Escalation
  • Expediting cost
  • Continuity of cover during operational phase awaiting integrated testing
  • Testing of second hand equipments
  • Design defect cover
  • Additional customs duty.
  • Maintenance visit/extended maintenance cover
  • EQ (Fire & Shock)
  • Terrorism
  • Premium adjustment
  • Testing period

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