Erection Policy
An Erection all risks insurance is an insurance on property against accidents resulting
in damage to machinery and steel structures while in the normal course of erection
or construction.
Scope of Cover
This is a comprehensive insurance cover that is available to the client in respect
of any sort of contingency from the moment the material are unloaded on the site
of the project/works and continues during storage, physical erection and still the
run is over which covers all physical losses or damages as under (subject to specific
exclusions which are mentioned in the policy)
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Sl. No.
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Type of Risk
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Cover
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1
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Location Risk
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Fire, Lightning, Theft & Burglary
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2
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Handling Risk
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Impact from falling objects, collision, failure of cranes or tacklers
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3
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Operational Risk
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Failure of safety devices, leakage of electricity, Insulation features, short circuit,
Tearing apart on account of centrifugal forces explosions.
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4
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Risk of Human element
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Carelessness, Negligence, Fault in erection, Malicious Damages, Strike & Riots.
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5
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Act of God
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Storm, Tempest, Hurricane, Flood, Inundation, Subsidence Rock Slide, Earth Quake.
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