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CONSTRUCTION INSURANCE (CONSTRUCTION ALL RISK INSURANCE ADVANTAGE…
CONSTRUCTION INSURANCE
SCOPE OF COVER
ALL RISK POLICY
covers any sudden and unforeseen physical damage to the insured civil project by any cause or peril but not a excluded peril under the policy
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the company will not indemnify the insured in respect of: loss, damage/ liability, directly/indirectly
caused by: war - civil war, invasion
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LIMIT OF INDEMNITY: the maximum amount which on insurer will pay in settlement of a claim or claims arising under a policy.
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UNDER INSURED; the situation that arises when your sum insured is less than the total assessed replacement or rebuilding cost of property that was damaged or loss
MAINTENANCE PERIOD: the period after the completion of a contract during which the contractor is required to make good at his own expense, any work which need repair.