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Project Policies (CAR & EAR)

Project Policies- Contractors’ All Risks (CAR) Insurance Policy & Erection All Risks Insurance Policy (EAR)

All physical assets are exposed to various risks during their creation/construction viz. during the project stage. For instance, a factory can catch fire or get flooded, or suffer loss in an earthquake not only during its operation but also during construction/erection. Similarly, a road may get inundated or suffer loss in a landslide during construction/erection

Any unfortunate loss or damage during construction/erection can cause abandonment of the project itself unless protected against risks.

  1. Location risks like Fire, Burglary, lightning, etc.
  2. Handling risks like Collison, impact, dropping, snapping of crane ropes, etc.
  3. A human element like negligence, bad workmanship, malicious damage, sabotage, and the like
  4. Act of God perils like floods, cyclones, inundation, earthquake, etc.