Contractors' all-risk insurance
Contractors' all-risk insurance (sometimes referred to as 'contract works insurance') is a policy that covers all risks normally associated with a construction project.
Issued commonly under the joint names of a contractor and a principal client it can protect against:
- The cost of unforeseen loss or damage to building works.
- Machinery movement.
- Public liability.
- Tools.
- Plant owned by the policy holder.
- Plant hired in.
- Business interruption.
- Equipment erection.
Cover is usually provided for the construction period but it can be extended to included the defects liability period too.
Contractors' all-risk insurance is available from a wide range of insurance providers.
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- Environmental Impairment Liability (EIL).
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- Retention.
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- Run-off cover.
- Self build insurance.
- Single project professional indemnity insurance
- Specified perils.
- Subcontractor default insurance (SDI).
[edit] External references
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