A policy that provides an all-risks cover during the construction period for contract works and/or erection works against loss or damage to property and third party liability for accidental bodily injury or property damage in connection with the performance of the contract, other than by an excluded cause.
There are two sections in this Policy.
Section I: Material Damage. This Section provides cover for loss or damage to the contract works caused by any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded.
Section II: Third Party Liability. This Section provides indemnity for the insured’s legal liability for accidental bodily injury or property damage to third parties occurring in direct connection with the contract works.
This Policy provides indemnity for accidental damage to equipment/machinery insured within Insured’s premises or Anywhere in Singapore unless otherwise excluded like war, inherent vice and normal wear and tear.
This Policy indemnifies you for damage to electrical, electronic and mechanical machinery insured due to breakdown & your financial losses in the event of business interruption as a result of breakdown to these machinery.