Types of Coverage

• Comprehensive Contractors’ All Risks Insurance
  This type of insurance provides comprehensive coverage for construction projects of various types, including residential and commercial buildings, hospitals, factories, power plants, roads, railways, airports, bridges, and dams.
  The policy is issued in favor of the main contractor and subcontractors and covers losses or damages, whether material or non-material, that may occur to the project’s property during the construction period, except for what is explicitly excluded in the policy.
  The coverage also includes legal liability for bodily injuries or damages that may occur to third parties as a result of the project’s operations. It covers losses arising from specified natural hazards within the scope of the policy. Additionally, this insurance covers preparatory works at the site such as excavation, leveling, and stored materials used within the construction scope.
• Equipment and Machinery Insurance
  This policy provides comprehensive insurance coverage for heavy machinery and equipment used at project sites, such as construction machinery, concrete mixers, earthmoving equipment, cranes, and vehicles not licensed for public roads.
  It covers sudden and unforeseen material damages that may occur during the use of equipment on the specified project site or within the geographic scope mentioned in the policy, with explicit exceptions noted in the policy.
  This insurance is essential to ensure the continuity of work and reduce operational risks in construction and infrastructure projects.
• Construction All Risks Insurance
  This type of insurance is used to provide the necessary protection for equipment installation projects and heavy machinery and extends coverage to include testing and commissioning operations before final project delivery. The policy covers sudden and unforeseen material damages that may affect project property during installation, except for conditions explicitly excluded in the policy. It also covers legal liability towards third parties in case of bodily injury or material damage caused by project operations. It also covers losses resulting from natural hazards specified in the contract, providing comprehensive coverage for the sensitive phases of the project.
• Electronic Equipment Insurance
  This policy provides comprehensive protection for sensitive electronic equipment, whether operational, temporarily out of service for maintenance or cleaning, or being reinstalled during the work period.
  Coverage begins after the successful completion of the commissioning phase and includes three main interconnected areas:
  • Sudden and Unforeseen Material Damages:
  Covers any sudden and unforeseen physical damage to the insured electronic equipment for reasons not excluded in the policy.
  • Loss or Damage to Data Media:
  Covers loss or damage to stored data media and external data media that are processed via electronic systems, conditional on the damage resulting from a covered event.
  • Additional Operational Expenses:
  Covers costs incurred from using substitute equipment in the event of total or partial operational stoppage of the original equipment.
  This insurance is ideal for sectors relying on advanced data processing systems, such as industrial plants, control centers, communication companies, and technical facilities.
• Loss of Profits Due to Equipment Breakdown
  This insurance provides financial protection to the insured against losses resulting from the stoppage or breakdown of machinery or equipment, provided that the stoppage results from an insured event covered under a valid machinery breakdown policy.
  The insurance coverage is limited to compensating for losses affecting the total profits of the facility due to reduced production or increased operating costs during the downtime.
  • Loss of Revenues (Reduction in Sales Turnover):
  Compensation is calculated based on the total profit rate applied to the reduction in turnover during the operational stoppage caused by the insured event.
  • Increase in Operating Costs:
  Covers additional expenses that the facility necessarily incurs to reduce or avoid the direct impact on the production and sales cycle.
  This insurance provides vital financial support to industrial facilities that depend on the continuous operation of machinery, helping maintain financial stability and reduce the adverse effects of unexpected breakdowns on operational activities.
• Machinery Breakdown Insurance
  This policy provides specialized coverage for machinery and industrial equipment against sudden and unforeseen material damages and breakdowns that may disrupt operational continuity.
  It covers damages arising from various technical reasons or operational failures, conditional on the cases explicitly stated in the policy.
  Coverage includes:
  • Material defects or faults.
  • Design or manufacturing errors.
  • Damage caused by defects in construction or installation methods.
  • Poor assembly or weak operational efficiency.
  • Negligence or transition to necessary technical skills.
  • Water shortages in lubricants.
  • Explosions or sudden vapor pressure surges.
  • Electrical faults such as short circuits.
  • Damages from storms or other unforeseen causes not excluded.
  This insurance is ideal for facilities that depend on continuous machine operation and provides coverage against unplanned downtime and its negative financial impacts.
• Spoilage of Goods in Cold Storage Units
  This insurance policy covers goods stored against damage or spoilage resulting from deterioration caused by sudden and unforeseen failure of refrigeration units, conditional on the damage resulting from risks covered under a valid machinery breakdown insurance policy.