Construction All Risks Insurance Clause Samples

Construction All Risks Insurance. 19.3.1 The Construction All Risks Insurance to be effected and maintained by the Contractor shall: (a) cover all loss or damage to the Works (including property of the Principal) and all unfixed Plant, materials and goods delivered on or adjacent to the Site or incorporation into the Works (but excluding tools and Construction Equipment owned or hired by the Contractor or any subcontractors) on an “All Risks” basis, subject to standard exclusions; (b) be effected prior to the commencement of any work under this Contract and continue until the issue of the Handing Over Certificate and during the Maintenance Period for loss or damage arising from a cause occurring on Site during the execution of the Works; (c) be in the joint names of the SATS, the Contractor and all Sub-Contractors of any tier for their respective rights and interests; (d) extend to suppliers or others engaged to provide goods and services for use in connection with the Works for their site activities only; (e) provide a sum insured of not less than the Contract Sum, plus property of the Principal, and Professional Fees (10%) and Removal of Debris (5%).

Construction All Risks Insurance