The basic concept of a Contractor’s All Risks Insurance is to offer comprehensive and adequate protection against loss or damage to contract works, construction plant and equipment and/or construction machinery. The cover includes legal liabilities to third parties in respect of loss or damage to property or bodily injury arising in connection with the execution of the contract works. ACIG can provide CAR insurance for almost all types of construction works.

This policy is similar to the CAR insurance but is mainly intended for projects which are more of electro-mechanical works such as power plants and refineries. It also covers the legal liability of the insured against third party.

This policy covers the heavy equipment used in construction, industrial operations, including other types of operation such as farming and quarrying against unforeseen and sudden physical damage due to external causes. This includes equipment such as cranes, tractors, bulldozers, stationary equipment like compressors and generators, pay loaders and other mobile equipments that do not require government or land transportation registration. The policy can also be extended to cover third party liability.

The policy covers the plant and machinery in a factory against any unforeseen and sudden physical loss or damage that necessitates repair or replacement from any cause other than those specifically excluded in the policy.

The policy will indemnify for the loss of profits resulting from the interruption of production or business operations due to loss or damage to machinery, plant or equipment covered under the Machinery Breakdown Policy. A claim must be admitted under the Machinery Breakdown Policy before loss will be recognized under the Loss of Profit policy.

The policy insures against loss or damage to goods stored in Cold Storage due to rise or fall of temperature caused by the breakdown of the refrigerating machinery and equipment. Like the Loss of Profits following a Machinery Breakdown, a claim must be admitted first under the Machinery Breakdown Policy before the loss will be recognized under this policy.

The policy will indemnify for the cost of repairing or replacing insured electronic and ancillary items following loss or damage from any cause subject to certain exclusions similar to the Machinery Breakdown Policy. This is type of insurance is ideal for computers and other electronic equipment which represent high value risks that are concentrated to small spaces.