Erection All Risks Insurance | Chubb NZ
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Erection All Risks Insurance
What it covers
- Erection and/or installation of electrical or mechanical plant and machinery anywhere in the world
- Losses during the testing and commissioning period preceding hand-over, and damage during the contractual maintenance period
- Movement and re-erection of machinery along with the testing, commissioning and maintenance of installed machinery
- Breakdown and explosion during testing and commissioning
- Overseas contracts, subject to some territorial and environmental peril limitations
The standard insurance covers:
- Defective design under the LEG 2/96 wording
- Damage to installed equipment during maintenance visits
However, it can be extended to provide:
- Wider defective design cover
- Extended or ‘full’ or guarantee maintenance
Benefits
Experience in underwriting various types of risks, from standard installation contracts to large scale power and energy plants
Strong track record as the leading insurance of large and complex project contracts
Capacity to cover contracts in many overseas territories
Highly experienced risk engineers who can assist in risk management and reduction, while ensuring that standards are maintained during erection and installation works
Areas of focus
- Power plant construction
- Oil and gas facilities
- Steel, aluminium, cement industries
- Bottling plants
- Pharmaceuticals
Insurance is issued and underwritten by Chubb Insurance New Zealand Limited NZBN 9429040398037, FSP No. 35924 (Chubb). Please review the relevant policy wording to understand the terms, conditions, limits, and exclusions to decide if the product is suitable for you. Any information provided is general information about our insurance product and not financial advice.