Construction and Engineering
Protect huge capital investments in the event of loss or damage to your engineering or construction projects.
All construction projects involve significant risks, which can result in damage or destruction to buildings or infrastructure during construction or installation, including legal liability to third parties for property damage or bodily injury arising from the works of the project.
In the building of industrial plants or equipment, the same risks occur as well.
What Does It Cover
Contractors’ All Risks
Provides all risks covered by contract works during the construction period against loss or damage to the working property and third party liability for accidental bodily injury or damage to property in connection with contract works unless excluded under the policy.
Machinery Breakdown
Protects your plant and machinery from any accidental and unforeseen loss or damage to your plant and machinery not known to you, as well as from any faulty design. Loss of profits due to such interruption will also be covered.
Electronic Equipment
- Product Loss
Covers unintended physical loss or damage to electronic equipment arising from an unauthorized cause.
- External Data Media
Covers costs incurred to replace and re-register external data media.
- Increased Working Cost
Covers additional expenditure incurred during the compensation period for the use of alternative electronic equipment
Deterioration of Stocks
Protects you from loss or damage to stock held at insured premises in refrigerated storage.
EXCLUSIONS
There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.
IMPORTANT INFORMATION
Policies are yearly renewable, subject to the agreement of the Insurer. Premiums payable for these insurance policies are not guaranteed and may change at Policy Renewal Date at the Insurer’s full discretion.
All benefits and features mentioned herein are subject to terms and conditions of the policy. You must refer to the Policy Contract for the precise terms and conditions of this insurance plan.
Note: Buying a life and/or health insurance policy can be a long-term commitment. An early termination of the policy usually involves high costs, and the surrender value payable may be less than the total premiums paid. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.
Policy Owners' Protection Scheme
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).