It covers all contractors’ risks, fraud and different kind of corruptions, that the insurance services cover and we give to the projects to be established.
These services are aiming at securing the projects effective from the date of commencement up to the final handing over to the employer.
The insurance is for the entire completion period as well as the maintenance period or if stipulated, in compliance with conditions of the contract.
As for the other types, the insurance takes place after the completion stage, i.e. insurance on projects during their operation...
Therefore, insurance for these types is an annual insurance determined according to the desire of the insured and covers some losses that occur as a result of operational, mechanical or electrical risks or due to normal negligence and lack of experience For each type of specialized insurance policy, it has its own terms, conditions and exceptions.
Among the risks covered by the two policies, all the contractors’ risks and all the fraud risks are:
1. Hazardous Cases of Force Majeure... such as floods, immersion, earthquakes, volcanoes, storms, tornadoes...etc.
2. Other kind of Endeared ... such as fire, theft, explosion, collapse and everything that is not expressly excluded in the document.
3. Maintenance is also covered. Note that the available coverage is the extended maintenance cover, which covers the damages caused by the contractor during his visit to the work site and in implementation of his obligations under the construction or installation contract ... It also includes, in addition to what was mentioned above, the damages discovered during the maintenance period, which are caused by the construction and installation or inspection periods.
4. In addition, the cover of civil liability, machinery, construction equipment and all temporary works used in the implementation can be included.