EAR insurance provides a very wide and comprehensive insurance cover to the client in respect of any sort of contingency from the moment the material is unloaded at the site of the project and continues during storage, physical erection commissioning, testing and maintenance (if covered). Since the duration of the cover can be as long as 36 months or even more, care must be taken while negotiating the proposal as well as assessing the moral hazard of the client.
Scope of Cover
This is a comprehensive insurance cover that is available to the client in respect of any sort of contingency from the moment the materials are unloaded on the site of the project / works and continuous during storage, physical erection and till the test run is over which covers all physical losses or damage as under:
Fire, lightning, theft & burglary.
Impact from falling objects, collision, failure of changes or tackles.
Failure of safety devices, leakage of electricity, insulation failure, short circuit, explosion.
Carelessness, negligence, fault in erection, strike & riots.