Contractor / Renovation Insurance

Contractors’ All Risks Insurance (CAR)

Contractors’ All Risks Insurance cater mainly to the protection needs of the construction industry. This policy is designed to provide protection against losses or damages in respect of the contract works at contract site and third (3rd) party claims arising in connection with the construction of a project. With additional premium, the cover may include Construction Plant and Equipment, Construction Machinery, Removal of Debris, Professional Fees and Principal’s Existing Property. Duration of cover corresponds with the contract period which is stipulated in the Letter of Award. 

The Erection All Risks insurance (EAR)

The Erection All Risks insurance covers all kinds of erection and testing on individual machine, industrial machinery, industrial plants, steel works and/or structure as well as third (3rd) party property and/or bodily injury arising in connection with the erection work. The cover may include Civil Engineering Works, Equipment for Erection, Removal of Debris, Professional Fees and Principal’s Existing Property. Duration of cover corresponds with the contract period which is stipulated in the Letter of Award. 

Comprehensive General Liability insurance (CGL)

Comprehensive General Liability insurance (CGL) is commonly acquired by contractors who undertake contract of works or service in industries like oil and gas, telecommunication, power plants, engineering, IT etc. as part of the contract requirements. A contractor must produce a CGL policy to the principal before the commencement of works. The CGL insurance indemnifies you against your legal liability for property damages or bodily injuries to a third (3rd) party caused by an accident while carrying out the works. In addition, the policy will indemnify you to a defined limit for defence costs and expenses incurred in respect of a claim.

Workmen’s Compensation insurance

The Workmen’s Compensation insurance provides coverage to you as an employer in respect of your statutory liabilities under the Workmen’s Compensation Law(s) as well as the Common Law to your employees who are generally not covered by SOCSO.

This insurance indemnifies you against all sums for which you shall be liable to pay compensation to any employees for personal injuries sustained due to accidents or occupational diseases arising out of and in the course of employment under:

• The Workmen’s Compensation Act 1952 and the subsequent amendments to the Act or
• The Common Law: The standard Common Law limit is RM1,000,000 any one accident and in the aggregate