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Erection All Risks Insurance

Vendor: AAA Assurance
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Type: Assurance
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I. Subject of insurance

Works or machine structures being installed and commissioned include:

  • Machines and lines are synchronized in a factory or enterprise in the process of assembling those machines and equipment;
  • Construction work for and / or constitutes part of the assembly process;
  • Machinery, equipment and tools for the assembly process;         
  • Property available on and within the construction site and under the ownership, management, custody and control of the insured person;
  • Responsibility for the third person (insurance only when participating in construction insurance);
  • Liability arising for a third party directly affected by the installation above.
Hotline: 1900 54 54 35

II. Coverage

Insurance for the Insured Person unexpected and unforeseen physical damage during the erection of the equipment that is damaged due to:

  • Fire, lightning, chemical explosion, theft, robbery;
  • Physical explosion, short circuit, electrical causes;
  • Earthquakes, floods, floods;
  • Storms, ice and snow;
  • Acts of malice, carelessness, negligence, lack of skills;
  • Damage during the test run;
  • Property losses are under the management of the investor (with the condition stated on the certificate).

Liability insurance for the third person about:

  • Bodily injury and property of a third person;
  • Legal fees that the third party claims from the insured.

III. Insurance fees

Depending on the type of building, location, ability to prevent damage, management qualifications, construction equipment and other relevant factors, the premium is calculated on the basis of annex 7 on the tariff Insurance issued together with the Circular No. 329/2016 / TT-BTC dated December 26, 2016 of the Ministry of Finance.

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