Contractor’s All Risk Insurance
Contractors All Risks for Maldivian projects. Material damage. Third-party liability. One policy.
Cover for the works, from start to handover
Contractors All Risks covers sudden and unforeseen physical loss or damage to the works and the materials on site, and your legal liability to third parties, during the construction period. The period of cover follows the contract period.
What can be insured
- The contract works, permanent and temporary
- Materials on site
- Construction plant, equipment and machinery
The two sections of the policy
Section I: Material damage
Physical loss of or damage to the works, on an all-risks basis: any cause that is not specifically excluded.
Section II: Third-party liability
Your legal liability for bodily injury or property damage to third parties.
What is covered
- Unforeseen and sudden damage, from any cause not excluded
- Permanent works, temporary works, materials to be built in
- Plant and machinery, at replacement value
- Tsunami, tidal wave, storm, cyclone, flood, landslide
- Third-party injury and property damage, on site or beside it
Optional extensions
- Removal of debris
- Professional fees
- Extended maintenance cover
What is not covered
- War and related perils
- Nuclear radiation or radioactive contamination
- Wilful act or wilful negligence of the insured
- Cessation of work
Other exclusions apply, as set out in the policy terms and conditions.
Cover attaches when the first load is unloaded, whatever the schedule says.
And it falls away part by part as the principal takes them over. On a phased handover the policy shrinks under you, which is why the dates deserve a conversation before the job starts.
Three gaps to plan around.
- Your own workforce is excluded. Injury to your people is workmen’s compensation
- Delay, penalties and liquidated damages are never insured here
- Fourteen days to notify a loss, or the insurer is not liable at all
For a quote
Send us four things.
- Contract value at completion, including principal-supplied materials
- Construction period, and the maintenance period that follows it
- Scope of works, and whether piling, dredging or wet works are involved
- Third-party limit you need, and any contractual insurance obligations
Common questions
- What does contractors all risk insurance cover?
- Sudden and unforeseen physical damage to the works and materials on site, from any cause not excluded, plus your legal liability to third parties for injury or property damage. The period of cover follows the contract period, and cover attaches when the first load is unloaded.
- Does it cover injury to my own workers?
- No. Your own workforce is excluded; injury to your people is workmen’s compensation or group personal accident cover. Delay, penalties and liquidated damages are never insured under a CAR policy either.
- What happens on a phased handover?
- Cover falls away part by part as the principal takes each part over, so the policy shrinks as the project progresses. The dates deserve a conversation before the job starts. Note too that a loss must be notified within fourteen days, or the insurer is not liable at all.
How to claim
Tell us
Contact our Claims Hotline or email us as soon as a claim arises.
We guide you
We advise you on documentation and communicate with the insurer.
We follow it through
We monitor the claim’s progress and check the settlement is in line with your policy entitlements.
This page is a summary. Cover is subject to the terms, conditions and exclusions of the insurer’s wording, which prevails. Seguro is a broker and arranges cover with the insurer.
