• Covers Building, Civil and Mechanical Engineering Projects against risks during Construction or Erection (e.g. flooding, fire or explosion, theft).
• Also covers Third Party Liability risks

CAR Policy Wording

“If during the period of Insurance any of the Property Insured shall suffer at the Contract Site any unforeseen physical loss or damage from any cause other than those specifically excluded the Company will in terms of the Basis of Loss Settlement Clause of the definitions contained herein compensate the Insured for such loss or damage up to an amount not exceeding in respect of each of the items specified in the Schedule the sum set opposite thereto and in all the Total Sum Insured."

• Covers primarily mobile construction plant and machinery against risks of external damage (e.g. accidents on site) and theft.
• Plant can be underwritten on “New Replacement Value” and “Market Value”.

PAR Policy Wording

“This Insurance is in respect of accidental physical loss or damage to the Insured Property described in the Schedule.”

PAR-Basis of Loss Settlement:

New Replacement Value

• Total Loss - Market Value
• Partial Loss - Replace with new parts

Market Value

• Total Loss - Market Value
• Partial Loss - Replace with old parts if not obtainable replace with new but insured settles the difference

• Covers electronic/computer equipment against risks of external damage (e.g. dropping, impact), breakdown and theft
• Loss of Profits as a consequence of machine’s downtime can be covered

EEI Insurance Policy Wording

“Physical loss of or damage to the equipment described in the schedule from any cause not hereinafter excluded whilst contained anywhere within the Insured’s premises as specified."

EAR policies are designed to cover the risk of loss arising out of the erection and installation of machinery, plant and steel structures, including physical damage to the contract works and liability for third-party bodily injury or property damage arising out of these operations.

Covered parties include the general contractor, subcontractors, and in some cases suppliers and manufacturers of equipment. Examples of the types of projects for which EAR coverage is typically purchased include power plants, manufacturing and fabrication facilities, water and wastewater treatment facilities, and telecommunications centers (particularly where the erection of signal towers is involved).

Some insurers combine erection all risks and contractors all risks coverages into one form. Although these terms are sometimes used interchangeably, there are some substantive differences.