These are essential for contractors, subcontractors, project owners, developers, and engineering firms involved in building construction, infrastructure projects, power plants, factories, and equipment installation.

Common types include:

• Contractors’ All Risks (CAR) – for building and civil works projects
• Erection All Risks (EAR) – for installation of machinery and steel structures
• Machinery Breakdown Insurance – for operational equipment
• Boiler and Pressure Vessel Insurance

CAR insurance typically covers:

• Loss or damage to works during construction (due to fire, earthquake, typhoon, flood, and other allied perils as stated in the policy.)
• Third-party bodily injury or property damage

Coverage is subject to policy terms and exclusions.

Yes, most engineering policies cover natural hazards such as typhoons, floods, and earthquakes, but coverage limits and deductibles apply. Some risks may require additional endorsements.

Coverage usually starts from the commencement of construction or installation and ends upon project completion and handover. Some policies include a maintenance or defects liability period.

The sum insured is based on the total project cost, or total contract value. However, to provide the total project cost, both labor and materials cost must be indicated to have an accurate valuation of the sum insured.