Erection All Risks (EAR) Insurance
Insurance is an insurance product that ensures that the values to be assembled within the field of activity are protected against natural, technical and human-induced risks. In this insurance, the guarantees begin as soon as the machines to be assembled land in the site and end when the plant becomes operational.
- Fire, lightning and explosion
- Flood coverage
- Earthquake, landslide, earth collapse, rock fall
- Collusion of air and land vehicles
- Risks arising from personnel; poor workmanship, carelessness, negligence etc.
- Theft
- Four-week test period unless otherwise indicated (except for second-hand machines)
Additional Coverages:
The loss and damage caused by the following conditions are excluded from the insurance coverage. However, below articles may can be included additionally with specified limits.
- Construction/Erection machinery
- Debris removal costs
- Existing buildings and facilities
- Temporary construction site facilities
- Over Time Night work and express freight
- Third party liability
- Cross liability
- Strikes, Riots, Civil Commotion, Lockout, Malicious Damage, Terrorism
- Four weeks of experience (test) period
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