Contractor's All Risks
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The Contractors All Risks Contract covers a Participants interest against all types of physical loss or damage (other than the ones that are excluded) to civil engineering works as well as legal liability to third parties arising out of the works.
Cover:
- Fire and lightning
- Floor, inundation and storm
- Burglary or theft
- Faulty construction
- Human errors or negligence
- Collapse
- Other accidental damage
What is not covered under this contract:
- Wear and tear, depreciation, gradual depreciation due to atmospheric conditions or lack of use and rust
- Loss or damage due to faulty design
- Nuclear perils
- War and related perils
- Willful act or willful negligence
- Cost of replacement, repair or rectification of defective material and/or workmanship
