Erection All Risks insurance policy provides a comprehensive coverage for erection projects during storage, erection and testing for the entire period of the project.
It is applicable to:
Setting up a new project
Expansion of an existing project
Dismantling and re-erection of an existing facility
Who can take the policy?
Purchaser(s) or Owner(s)
Anyone with financial interest in the project
What do the add-on covers include?
Own surrounding property
Third party liability
Storage risk at fabricator’s premises
Clearance and removal of debris
Express freight (excluding air freight), holiday rates, overtime charges
Escalation of cost
Act of Terrorism
Additional custom duty i.e. the additional percentage of duty payable for reimport at the time of replacement, over and above the percentage of duty included in the original sum insured