This cover is offered to Principals Contractors and their subcontractors engaged in construction activities. This cover is designed to compensate against sudden and unforeseen accidental physical loss or damage during construction and during defect liability period and to meet the contractual obligations. The policy has two Sections to protect various contingencies associated with Contract works.
Section I: Material Damage This Section covers loss or damage to contract works and other ancillary facilities on comprehensive basis.
Section II: This Section provides indemnity towards legal liabilities of the Insured to Third Parties in respect of bodily injury or property damage arising out of performance of the contract works.