Civil Engineering Completed Risk Insurance
Engineering projects involve enormous amount of cost, man power and resources.
- CECR is annual named peril policy for civil engineering structures like Bridge, Dam, Jetties, Canal, Tunnel, Water Reservoirs, Runways, Water Pipelines etc.
- In event of loss policy indemnifies to repair/ reinstate the structure subject to policy conditions.
- Riot, Strike, Malicious Damage and Terrorism as per Riot, Strike and Malicious damage clause printed hereon.
- Impact by any Rail/Road or water borne vehicle or animal.
- Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation, Wave action of water.
- Subsidence and Landslide (Including Rockslide) damage.
- Earthquake Fire and Shock (Including flood due to earthquake), Tsunami Frost, avalanche, ice.
- Sum Insured should represent their new replacement values
- Premium depends upon nature/type of construction and area of construction site.
- The policy is subject to a compulsory excess.
The policy does not cover loss or damage due to:
- Nuclear reactions, nuclear radiation or radioactive contamination.
- Political risks.
- Wilful act or wilful negligence.
- Wear and tear.
- Inherent defects.
- Inherent defects, wear and tear, gradual deterioration, expansion or contraction of insured items due to changes of temperatureConsequential loss.
- Lack of maintenance.
How to claim?
If a misfortune befalls, leave the worry to us but please intimate such loss/damage immediately to Zoom Insurance Brokers (firstname.lastname@example.org)so that a Competent Surveyor may be deputed to minimize the loss.