Erection All risk
- What is Erection All Risks Insurance?
Erection All Risks insurance is a policy which provides financial cover during the policy period for loss or damage to project property during the construction phase till successful competition of testing and commissioning of project.
Important facts ·
- As per Indian Labour statistics, the number of fatal injuries from industrial accidents has seen a rising trend.
- As per official data, there were 4,499 industrial accidents in 2014. Out of these, 515 were fatal.
- India has only one inspector for every 500 factories as per data released by British Safety Council.
- We Have the Right Plans to Protect Your Vehicle from All Kinds of Risk
Damage to property
The policy ensures that if anything is lost, damaged or destroyed by any cause, other than those specifically excluded during the policy period will be covered. The cost of clearance and removal of debris is also covered under the insurance policy.
Third-party liability
Under third-party liability, Digit’s policy will cover legal liability for loss or damage to third party property and for fatal and non-fatal injury to any person other than your own employees.
Compensation
In addition to that, all expenses of litigation recovered by a claimant and those incurred with the insurer’s written consent will be compensated under the policy.
Comprehensive cover
The policy provides financial protection to the engineering contracts which may arise during the course of erection and testing of project.
Covers the entire project
The policyholder can avail the policy for the whole duration of the project. It means that damages caused from the time of arrival of material at the site until completion of testing and commissioning are covered.
Covers the entire project
The policyholder can avail the policy for the whole duration of the project. It means that damages caused from the time of arrival of material at the site until completion of testing and commissioning are covered.
Damage to property
The policy ensures that if anything is lost, damaged or destroyed by any cause, other than those specifically excluded during the policy period will be covered. The cost of clearance and removal of debris is also covered under the insurance policy.
Third-party liability
Under third-party liability, Digit’s policy will cover legal liability for loss or damage to third party property and for fatal and non-fatal injury to any person other than your own employees.
Compensation
In addition to that, all expenses of litigation recovered by a claimant and those incurred with the insurer’s written consent will be compensated under the policy.
Comprehensive cover
The policy provides financial protection to the engineering contracts which may arise during the course of erection and testing of project.
Covers the entire project
The policyholder can avail the policy for the whole duration of the project. It means that damages caused from the time of arrival of material at the site until completion of testing and commissioning are covered.
- Who needs Erection All Risks Insurance?
The insurance policy can be bought by the ones mentioned below:
Owners of the company or factory
Manufacturers and Suppliers
Contractors
Subcontractors
- Why do you need to buy Erection All Risks Insurance policy?
Avail Digit’s Erection All Risks Insurance policy for: