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CONSTRUCTION INSURANCE (1) PREAMBLE PART (2) BODY PART (i) exclusion of…
CONSTRUCTION INSURANCE
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SCOPE OF COVER
Covers any sudden and unfoerseen physical damage to the insured civil project by any cause of peril but not the excluded peril under the policy
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EXCLUDED PERIL
i) Loss or damage due to willful misconduct
ii)loss or damage due to faulty design
iii) Cessation of work ,partial or total
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THE COMPANY WILL NOT INDEMNIFY THE INSURED RESPECT OF LOSS, DAMAGE THAT CAUSED BY
invasion, civil war, insurrection,military, civil common municipal or local authority war
LIMITS OF INDEMNITY
SECTION I = up to market value SECTION II = not exceeding the amount specified in the schedule against such sum which the insured shall become legally liable to pay ad damages consequent upon
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MINTENANCE PERIOD = the period after completion of a contract during which the contractor required to make good at his own expenses, any work which needs repair