Hotline Call Centre: 1500 674 (MSI)Erections’ All Risks (E.A.R) Insurance
Covers machinery during the installation period.
Key features
Comprehensive coverage
Comprehensive coverage to protect machinery during installation period includes commissioning of the machines.
Coverage for machinery & equipment installation
Coverage includes installation of industrial and non-industrial machinery, electrical equipment, telephone network installation, iron/steel pipe networks, steel installation/construction such as for buildings, factories, towers, bridges, ports, etc.
Third party liability coverage
Cover the third party liability against property damage and bodily injury of the third party caused by the execution of the works.
Plan highlights
Cover loss and/or damaged caused by certain perils to the Machineries during installation and erection works of various machinery and equipment
Cover the interests of manufacturers, suppliers, contractors and subcontractors – as extension
Other extension cover: additional custom duty, air freight, damage to surrounding property, debris removal, earthquake, escalation, loss due to breakage of glass, maintenance visits
Cover should begin when the stage in a development project will start such as cleaning phase, Foundation/Structure stage, Development/Erection stage, Mechanical & Electrical stage.
Plan details
This policy covers property damage and bodily injury caused by all installation risks except those excluded in the Policy wording.
This policy consists of 3 sections:
(1) Section 1 – Material Damage
This section covers material damage (to machinery, electrical equipment, etc.) caused by risks not excluded under the Policy.
(2) Section 2 – Third Party Legal Liability
This section covers losses suffered by third parties, including property damage and bodily injury, arising as a result of material damage covered under Section 1.
(3) Section 3 – Business Interruption or Insured’s Financial Loss
This section covers the Insured’s loss of gross profit due to reduced sales revenue and increased working costs if a loss under Section 1 occurs and results in a delay. This third section is an extension of coverage that may be provided to prospective insureds subject to special consideration.
Extensions of Coverage:
Common extensions that may be granted include:
SRCC (Strikes, Riots, and Civil Commotion)
Debris Removal
Escalation
General Exclusions:
The Insurer shall not indemnify the Insured for any loss, damage, or liability, whether directly or indirectly caused by, arising out of, or aggravated by:
a) War, invasion, acts of foreign enemies, hostilities (whether war is declared or not), civil war, rebellion, revolution, insurrection, civil commotion, riots, strikes, lockouts, labour disturbances, military or usurped power, malicious persons or persons acting on behalf of or in connection with any political organization, conspiracy, seizure, arrest, restraint, confiscation, or destruction or damage under orders of any de jure or de facto government or any authority.
b) Nuclear reaction, nuclear radiation, or radioactive contamination.
c) Deliberate acts or willful negligence by the Insured or its representatives.
d) Cessation of work, whether total or partial.
Note: Please refer to RIPLAY for more specific exclusions.
