What is it
A suite of policies designed to protect businesses involved in construction, engineering, or supply projects. It ensures that your work is not derailed by unforeseen accidents, damages, or liabilities, giving both you and the project owner peace of mind.
Project Insurance / Takaful
Key Protection Areas
Coverage Options That Meet Project Owners’ Requirements
Construction All Risk (CAR)
Protects construction projects against accidental physical loss or damage during construction.
Erection All Risk (EAR)
Specialized protection for installation and erection of machinery, plants, and steel structures.
Comprehensive General Liability (CGL)
Covers third-party bodily injury or property damage during project execution.
Public Liability (PL)
Protection against claims arising from accidents that affect the public at or near the project site.
Workmen Compensation (WC)
Ensures employees and workers are protected in case of workplace injury or accidents.
Performance Bond (PB)
Guarantees project owners that contractors will fulfill their contractual obligations.
Project Insurance / Takaful
Why It Matters
Key benefits of protecting your projects
Protects
Protects contractors, engineers, and suppliers from financial loss
Trust
Builds trust with project owners by meeting mandatory insurance requirements
Coverage
Ensures workers and third parties are covered for accidents and liabilities
Fast-action
Minimizes delays and disputes caused by unexpected events
Project Insurance / Takaful
Who Needs This Coverage
Contractors & builders
Engineering firms
Machinery & equipment suppliers
Subcontractors working on large projects
Businesses bidding for government or private sector projects
Project Insurance / Takaful
Our Track Record in Project Protection
What types of risks are covered?
Depending on the plan, coverage may include:
- Physical damage to construction or engineering works
- Loss or damage to equipment and machinery during erection/installation
- Third-party injury or property damage
- Accidents involving workers (workmen compensation)
- Financial assurance to project owners (performance bond)
How long does it take for a claim to be settled?
This depends on the complexity of the case and the completeness of documentation. Simple claims may be resolved within weeks, while more complex project-related claims may take longer due to site inspections and evaluations.
What is the difference between CAR and EAR policies
CAR (Construction All Risk): Covers civil engineering projects like buildings, roads, and bridges.
EAR (Erection All Risk): Covers installation and erection of machinery, steel structures, and industrial plants.
Can I customize my coverage?
Yes. Coverage can be tailored depending on your project size, industry, and specific risks. Our team will recommend the right combination of policies to meet your project’s needs.
Project Insurance / Takaful