construction insurance

construction insurance

We can provide the following cover

Construction Business is the at the heart of Almaseer being the first risk category written by us. We can provide cover for both Contractors All Risks (CAR) and Erection All Risks (EAR) + as a standalone cover or as part of an Energy Policy. For standalone cover we normally utilise the Munich Re CAR / EAR wording as the cover base as these are globally recognised wordings. 

‘Click + for an explanation of the difference between Construction All Risks & Erection All Risks’

Material Damage CAR & EAR

Contractors All Risks

  1. Contract works (permanent & temporary works, inc all materials to be incorporated)
    1.1 Contract Price
    1.2 Materials or items supplied by Principal(s)
  2. Construction Plant and equipment
  3. Construction Machinery – specified
  4. Clearance of Debris

Erection All Risks

  1. Erection work
    1.1 Items to be erected
    1.2 Freight
    1.3 Customs duties and fees
    1.4 Cost of erection
  2.  Property located on the Principal’s premises or on site, belonging to Principal or held in care, custody or control.
  3. Civil Engineering Work3.
  4. Clearance of Debris.
Third Party Liability

Third Party Liability insurance covers you liability arising from the contract site where you are found to be legally liable for death or personal injury to third parties other than the insureds own employees and for damage to third party property.

Key Extensions that can be considered
  • Delay in start-up Cover; varies dependant on requirement but normally includes Debt servicing and Loss of fixed costs, Increase in cost of working.
  • Advance loss of profits; Loss of Profit due to Insured event delaying completion of works (Note this cover can be very restricted due to territory and reinsurance capacity restrictions).
  • Testing and commissioning; Loss of or damage to the works caused by Testing and Commissioning, (Note the extent of the cover provided can vary).
  • Phased handovers; Where a project consists of ‘blocks’ or separate phases our policy can be arranged to provide cover on a phased handover basis.
  • Interim Operations; We can consider providing cover for projects where due to phased handovers the site can be partially operational and also still in construction, subject to underwriting criteria being met we can consider the interim operational risk until full handover takes place.
  • Principals Surrounding / Existing Property; sublimit can be considered for this.
  • Inland Transit; can be written as an extension within the CAR policy or within a standalone project Marine and inland transit cover if marine cover is required as well.
  • Both CAR and EAR are flexible covers with a large number of clauses and endorsements that can make the cover bespoke to a particular contract.

Limits Available

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The capacity available for construction Insurance vary due to several items key ones being:

    • The type of Project
    • The experience of the contractors involved with the project.
    • The Limits and sub limits required.
    • Whether it is an Annual or Project policy required
    • The policy duration for a Project policy


We can cater for limits from USD100,000 for small decorating and refurbishment contracts to multi year Project policies with limits of more than USD1bn.

use of captives

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Almaseer are used to captives participating in Energy Programmes and will discuss a clients / potential clients Captive utilisation in their programme based on the clients own unique needs.

information required

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As a bare minimum to provide a VRI (very rough indication non binding) we would require the following additional information:

  • As well as the usual company name and address we will require directors and shareholders details (required for domestic and International sanctions and Money Laundering Checks)
  • A copy of the full contract/work specification wherever possible, if not available at this time then as much detail as can be provided about the contract including:
    • An overview of the project including timescale
    • Statement of work
    • Project plan or Gantt chart
    • Project financials
    • Insurance coverage requested and limits required
    • Details of principal and lenders if you are not the principal
    • Financial information relating to the contract

All the above will be required by both us and our reinsurers – however we may request more information to be supplied before we are able to indicate pricing or the extent of cover we can provide

For a bindable quotation the information required will depend very much on the project or work undertaken and we would discuss the requirements with you on a case by case basis 

Please contact us to discuss your requirements whereupon we will be able to assist you with the documentation required.