Contractors All Risks Insurance
SCOPE OF COVER
Section I – Material Damage
Covers any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded to the construction project, in a manner necessitating repair or replacement.
Following are some of the perils covered:
· Fire and Lightning
· Impact damage from falling aircraft/object
· Acts of God / Natural perils
Section II – Third Party Liability
Covers all sums which the Insured shall become legally liable to pay as damages consequent upon
a) accidental bodily injury to or illness of third parties (whether fatal or not)
b) accidental loss of or damage to property belonging to third parties
occurring in direct connection with the construction or erection of the items insured under Section I and happening on or in the immediate vicinity of the site during the Period of Cover.