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Easy for you to access your insurance policy via our digital platform
Easy for you to access your insurance policy via our digital platform
1.What is CAR?
Constructor’s All Risks (CAR)
Covers the risks during
• Construction works of buildings such as office, factory, shopping mall, dwelling use
• Construction works of civil engineering such as construction of road, railway, quay, tunnel, dam, floodgate, airport, underground plaza
2.What is EAR?
Erection All Risks (EAR)
Covers the risks during
• Installation and erection works of various machinery
• Construction works of plant, factory, etc.
• Erection works of superstructures of bridge, steel tower, etc.
3.What is the coverage?
Provide cover for any damage that occurs during the construction process.
• Section 1-Material Damage
Covers almost any sudden and unexpected material loss or damage occurring to the property insured on the site
• Section 2-Third Party Liability
When the Insured shall become legally liable to pay as damages consequent upon
a) accidental bodily injury to or illness of third parties (whether fatal or not)
b) accidental loss of or damage to property belonging to third parties
• occurring in direct connection with the construction or erection of the items insured under Section I
• happening on or in the immediate vicinity of the site
• during the Period of Cover
4.Who are the insured?
Insured can be
In the name of the contractor, the principal or joint names depending on the project requirement. All the concerned parties are:
• Principal, Owner or Employer
• Contractor
• Sub-contractor
• Consultant, Engineer
5.What is the Sum Insured?
Sum Insured
Total contract value (TCV) upon completion which includes
• Engineering costs
• Cost of goods or works of suppliers (i.e. material cost) including
• Tax, custom duties
• Insurance cost, transportation cost
• Cost of construction/erection (i.e. labor cost)
• Various other costs (e.g. commission)
• Service Equipment Supplied by the Principal
6.What is the Construction/Erection Period?
Works Period
• Commences
• Directly upon commencement of work or
• At the time after the unloading of subject matter of insurance from the conveyance on the site
• Expires
• At the time when the works are taken over by the principal or put into service or
• The date specified in the schedule
7.What type of insurance is Contractors’ All Risks (CAR) insurance?
Contractors’ All Risks (CAR) insurance cover the risks during
• Construction works of buildings such as office, factory, shopping mall, dwelling use
• Construction works of civil engineering such as construction of road, railway, quay, tunnel, dam, floodgate, airport, underground plaza
How will it be protected?
Contractors’ All Risks provide cover for any damage that occurs during the construction process.
If you want to know more about Contractors’ All Risks insurance, please make an online booking appointment or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday from 9:00 am to 5:00 pm.
8.What is an Erection All Risks (EAR) insurance?
Erection All Risks (EAR) insurance covers the risks during
• Installation and erection work of various machinery
• Construction works of plant, factory, etc.
• Erection works of superstructures of bridge, steel tower, etc.
What is the Erection All Risks insurance coverage?
Erection All Risks insurance provide cover for any damage that occurs during the construction process.
If you want to know more about Erection All Risks insurance, please make an online booking appointment or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday from 9:00 am to 5:00 pm.
9.Types of coverage available for Contractors’ All Risks (CAR) and Erection All Risks (EAR)
Contractors’ All Risks (CAR) insurance and Erection All Risks (EAR) insurance provide cover for any damage that occurs during the construction process.
Section 1-Material Damage
Covers almost any sudden and unexpected material loss or damage occurring to the property insured on the site
Section 2-Third Party Liability
When the Insured shall become legally liable to pay as damages consequent upon
• accidental bodily injury to or illness of third parties (whether fatal or not)
• accidental loss of or damage to property belonging to third parties
• occurring in direct connection with the construction or erection of the items insured under Section I and
• happening on or in the immediate vicinity of the site
• during the Period of Cover
If you want to know more about the coverage for CAR and EAR, please make an online booking appointment or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday from 9:00 am to 5:00 pm.
10.What kind of business needs to take Erection All Risks coverage?
High risky industries such as installation and erection work of various machinery, construction works of plant, factory, etc., erection works of superstructures of bridge, steel tower needs to take Erection All Risks insurance coverage to provide losses from any damages that occurs during the construction process.
Be insured to be sure.
If you want to know more about the coverage for Erection All Risks insurance, please make an online booking appointment or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday from 9:00 am to 5:00 pm.
11.What kind of business owner needs to take coverage for Contractors’ All Risks insurance?
Construction works of buildings such as office, factory, shopping mall, dwelling use and construction works of civil engineering such as construction of road, railway, quay, tunnel, dam, floodgate, airport, underground plaza needs to take Contractors’ All Risks insurance to protect against losses from any damages that occurs during the construction process.
Be insured to be sure.
If you want to know more about the benefit and coverage for Contractors’ All Risks insurance, please visit the following links or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday from 9:00 am to 5:00 pm.
12.Insurance Period for Contractors’ All Risks (CAR) and Erection All Risks (EAR)
The coverage will start when
• Directly upon commencement of work or
• At the time after the unloading of subject matter of insurance from the conveyance on the site
and will expire
• At the time when the works are taken over by the principal or put into service or
• The date specified in the schedule
Learn more about the CAR and EAR insurance products by visiting the following links or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday.
13.How to calculate the sum insured value for Contractors’ All Risks (CAR) and Erection All Risks (EAR)?
Sum Insured value will be calculated based on total contract value (TCV) upon completion which includes
• Engineering costs – Cost of goods or works of suppliers (i.e. material cost) including tax, custom duties, insurance cost and transportation cost,
• Cost of construction/erection (i.e. labor cost)
• Various other costs (e.g. commission) and
• Service Equipment Supplied by the Principal
Learn more about the CAR and EAR insurance products by visiting the following links or call our Customer Service Hotline – 09 777 100 555 during office hours from Monday to Friday.
Daw Thazin Aung
Non-Executive Director
Daw Thazin Aung is a Non-Executive Director of AYA SOMPO Insurance, a joint venture company between AYA Myanmar Insurance and Sompo Japan Insurance Inc., and a member of AYA Financial Group.
Daw Thazin Aung presently holds the position of Chief Executive Officer of AYA Bank PCL. In her capacity with AYA Bank PCL, she takes charge of business development management and making strategic decisions to ensure the Institution’s sustainable and profitable growth.
In addition to her role as Chief Executive Officer, she also holds several positions within AYA Financial Group. With AFG, she takes charge of AYA Trust Securities Co., Ltd. as the Managing Director for Capital Market Activities including securities brokerage and Corporate Finance Transactions. From her capacity with Corporate Finance activities, she oversees and monitors diversified investment portfolios that include existing, on-going, and new business ventures of Chairman’s investment office as well as new Mergers and Acquisitions, Joint Ventures with Potential Partners for AYA Financial Group’s entities and/or investment in new ventures. She holds a master’s degree in business administration (Corporate Finance) from Nottingham Trent University. Before joining AYA Financial Group, she was a PwC Advisory Partner and local Lead Director/Partner for PwC Myanmar. She has over 16 years of professional experiences including 11.5 years with PwC Singapore and PwC Myanmar for audit, financial advisory and consulting and 5 years in the Maritime service industry in Myanmar.
Mr. Taichi Yamamoto
Director
Mr. Taichi Yamamoto is a Board of Director at AYA SOMPO Insurance. Mr. Taichi Yamamoto has held various senior management positions both in Japan and overseas, including as a Director, Senior Vice-President for Business Operations and Chief Risk Officer at PGA Sompo Insurance Corporation (Manila), and a Managerial position at Sompo Japan Insurance (Singapore) Pte Ltd. He has a vast experience in insurance business and has been with the Sompo Group since 1997.
Mr. Taichi Yamamoto is currently managing SOMPO P&C Office at Sompo Holdings, Inc. (Tokyo) since June 2025. He holds a Bachelor of Economics from Tokyo University, Japan, and Master of Business Administration (MBA) from Hitotsubashi University, Japan.
U Myo Min Thu
Chief Executive Officer
U Myo Min Thu is the Chief Executive Officer of AYA SOMPO Insurance, a leading general insurer in Myanmar, and a joint-venture between AYA Myanmar Insurance and Sompo Japan Insurance Inc. Since 2019, he has led the company’s strategic growth and transformation, strengthening its market leadership through digital innovation, operational excellence, and customer-focused solutions. With over 15 years of leadership experience across the insurance, banking, and aviation sectors, he brings a strong track record of building and scaling businesses in emerging markets.
Under his leadership, AYA SOMPO Insurance has strengthened its position as a market leader, with a focus on digital innovation, operational excellence, and customer-centric insurance solutions that expand access to insurance services across the country.
Prior to his current role, U Myo Min Thu had held management positions in Singapore and overseas, where he developed deep expertise in managing teams from different cultural backgrounds, focusing on commercial strategy, operations, and organizational transformation. He brings to the country his wealth of knowledge, international exposure, and experience. He holds a bachelor’s degree in Banking and Finance from the London School of Economics and an MBA from Edinburgh Business School (Heriot-Watt University). Passionate about advancing inclusive financial services, he is committed to shaping the future of Myanmar’s insurance industry by building resilient, digitally enabled organizations.
U Than Zaw
Vice Chairman
U Than Zaw is the Vice Chairman of AYA SOMPO Insurance, a joint venture company between AYA Myanmar Insurance and Sompo Japan Insurance Inc., and a member of AYA Financial Group.
U Than Zaw played a pivotal role in establishing AYA Myanmar Insurance (AMI) as the Managing Director when the market liberalized for private insurers in 2013. He was appointed as the Managing Director to AYA Bank from 2011 to 2013 and presently holds the position of Vice Chairman at AYA Bank PCL. During his tenure, he has led the emerging bank in expanding its brand presence and branch network across Myanmar.
U Than Zaw’s extensive experience includes eight years as Treasurer of the Myanmar Olympic Committee and two years as Chief Executive Officer of the Myanmar Football Federation. He has been instrumental in strengthening systems and procedures through proactive initiatives and continues to provide Board-level guidance on policies and practices to ensure the company remains fully compliant with stipulated laws and regulations.
U Zaw Zaw
Chairman
U Zaw Zaw is the Chairman of AYA SOMPO Insurance, a joint venture company between AYA Myanmar Insurance and Sompo Japan Insurance Inc., and a member of AYA Financial Group.
U Zaw Zaw is an established and well-connected entrepreneur and business leader in Myanmar, with over 30 years of management experience. With a combination of overseas experiences and personal strengths, U Zaw Zaw founded Max Myanmar Company in 1993 and AYA Bank in 2010. His achievements include steering the management and growth of AYA Financial Group and Max Myanmar Group of Companies, major conglomerates in Myanmar. He is also the Founder and Chairman of AYA Bank PCL, one of the country’s largest and leading banks in Myanmar.
He is currently serving as the President of the Myanmar Football Federation since 2005 and Senior Vice President of the Asian Football Confederation (AFC). He relentlessly provides both funding and effort for the development of football in Myanmar. As a firm believer of contributing to the society and helping the needy, he has supported various philanthropic causes through the Ayeyarwady Foundation, including the Yankin Children Hospital, Ayeyarwady Covid-19 Center, and a wide range of corporate social responsibility initiatives nationwide.