Engineering all risk insurance covers a wide range of risks to which a project is exposed, starting right from the ordering of material at the site till successful testing and completion of the project. This plan is very useful for owners, contractors, architects, consulting engineers, and investors because it leads to the reduction of overall […]
Articles Tagged: Engineering All Risk Insurance policy
What is not covered under Engineering All Risk Insurance?
Engineering all-risk insurance policies cover the threats of loss arising out of the installation of machinery, plant, and engineering structures, like physical damage to the contract works, tools, and machinery, and liability for third-party bodily injury or property damage (PD) happening due to any of these operations. Insurance for the delay in start-up costs is […]
How can you minimize the premium for Engineering All Risk Insurance?
During the erection and installation of machinery, the dangers involved are high which can result in huge losses and damage to property. The risks can cause huge financial losses to the contractor. The policy offers cover at several stages of an engineering project, like Storage, Testing, Handling, and Commissioning at a plant or engineering site. […]
Who can purchase engineering all-risk insurance?
An engineering all-risk (EAR) insurance policy is an ideal purchase for certain businesses. Specifically, such businesses involve some developmental risks that could have devastating financial consequences. For instance, power plants, manufacturing and fabrication set-ups, water and wastewater treatment plants, and telecommunications centers. Engineering all-risk insurance policy offers coverage at several stages of an engineering project. […]
How to file a claim under Engineering All Risk Insurance?
Engineering all-risk insurance is one of the General insurances which consider economic safeguarding, the risks faced at any ongoing project, installation project, and machines and equipment used at the project site. The following steps are to be followed for filing a claim under the engineering all-risk insurance policy Intimate the office: The first step is […]