We can help you to protect your property whilst it is undergoing maintenance, upgrade and repair with cover for both the employer (usually the owner or the occupier of the finished premises) and the construction contractor.
Contractors’ All Risks (C.A.R.) policies protect contractors, the employer and other parties who have an insurable interest in the construction project and for example, can cover the parties to both Joint Contracts Tribunal (JCT) for buildings contracts and Institute of Civil Engineers (ICE) for civil engineering projects.
Good standard C.A.R. policies provide cover for material damage to the contract works, to property whilst in transit or on site, injury to people and theft of building materials and plant but despite the term All Risks there are still policy conditions and exclusions that apply. For example, the speculative risk of making a profit out of the works cannot be insured. We can offer annually renewable blanket (or open) policies covering all contract works within agreed parameters or alternatively, individual policies for specified contracts.
Policies can also be extended to include cover under clause 6.5.1 of the JCT 2016 Standard Building Contract which, if triggered, requires the contractor to buy additional insurance in the joint names of themselves and the employer to cover any expense, liability, loss, or claim that the employer may incur due to specific events such as collapse, subsidence, heave, vibration, weakening or removal of support and lowering of ground water. The employer needs cover for potential damage to property that is caused by (not to) the contract works and for which the contractor is not negligent. As a result, this cover is sometimes referred to as the non-negligence extension.
When arranging Professional Indemnity insurance for Contractors, we work with insurers and their legal partners who provide a Collateral Warranty review service, often as part of the premium.