The ‘Erection All Risks’ (EAR) insurance provides coverage for unforeseen, unexpected, and accidental physical loss or damage/destruction to the erection works (whether permanent or temporary) and contractor’s equipment, caused by any event except those specifically excluded, during the policy period. The coverage includes risks such as fire, lightning, flood, theft, malicious damage, earthquake, riots and strikes, burst pipes, impact, in-transit losses, and other events, unless specifically excluded.
Notable Extensions are
- Vibration, removal or weakening of support
- Strike, riot and civil commotion
- Cross liability
- Underground cables, pipes and other facilities
- Extended maintenance
- Existing Properties
Risks
Natural Hazards
- Wildfires
- Floods
- Storms
- Earthquakes
- Tornado
- Volcanic eruptions
- Hurricanes
- Typhoon
- Cyclones
- Tsunamis
- Other natural disasters
Man-made Hazards
- Theft & burglary
- Chemical spill
- Structural collapse
- Explosions and fires
Business Hazards
- Accidental losses
- Material damage
Protections
- Damage to contract works, plant and machinery
- Damage to property of third party
- Damage to property of insured
- Loss of property of third party
- Loss of property of insured
Industries
- Construction & Engineering
- Hotels, Restaurants & Leisure
- Industrial Conglomerates
- Real Estate
- Road & Rail
- Telecommunication Services
- Transportation Infrastructure