Contractor’s All Risks (CAR), Erection All Risks (EAR) Insurance

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Contractor's All Risks (CAR), Erection All Risks (EAR) Insurance

Protect any damage that occurs during the construction process.

Benefits

Coverage

Damage during construction process
Provide insurance coverage for any damage that occurs during the construction process

Material Damage:
Cover almost any sudden and unexpected material loss or damage occurring to the property insured on the site

Additional Coverage

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Third Party Liability:

When the insured becomes 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 and
Happening on or in the immediate vicinity of the site
during the Period of Cover

Product Highlights

Premium Rating

Based on Total Contract Value (TCV) upon completion which includes:

I. 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)

Policy Term

Maximum policy term 1 year (Renewable on a yearly basis)

II. Service Equipment Supplied by the Principal

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

FAQ

What is Contractor’s All Risks (CAR)?

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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

What is Erection All Risks (EAR)?

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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.

What is the coverage?

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Provide cover for any damage that occurs during the construction process.
• Main Coverage – Material Damage
Covers almost any sudden and unexpected material loss or damage occurring to the property insured on the site
• Additional Coverage – 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

Who are the insured?

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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

How to calculate the sum insured value for Contractors' All Risks (CAR) and Erection All Risks (EAR)?

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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

What kind of business needs to take Erection All Risks coverage?

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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.

What kind of business owner needs to take coverage for Contractors’ All Risks insurance?

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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 structures, plaza needs to take Contractors’ All Risks insurance to protect against losses from any damages that occurs during the construction process.

More Information

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Choose from the following types of AYA Health Standard Plans to suit your needs!

AYA Health Plus
AYA Health Pro
AYA Health Prestige
AYA Health Prime

We also provide corporate customers with versatile health insurance solutions as Cafeteria Plan, meticulously customized to align perfectly with your unique needs. Regarding the purchase of the Cafeteria Plan, only the rules, regulations, and decisions of AYA SOMPO Insurance Co.,Ltd are considered final.

Table of Benefits (in MMK)	AYA HEALTH
Table of Benefits (in MMK)	PLUS	PRO	PRESTIGE	PRIME
Maximum Benefit PRIME Plan only : Additional Limit of up to 44,000,000 MMK, applies to Thailand Zone	11,000,000	11,000,000	11,000,000	11,000,000
Medical and Hospital Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Ambulance Services	165,000	165,000	165,000	165,000
Hospitalization Costs Accommodation in a standard single-bedded room and meals: Medical Treatment and services ordered by a Physician, including: Surgeon’s and Anesthetist’s charges Physician, Consultant and Nursing charges Diagnostic Procedures (including CT, MRI and PET scans) Surgical Appliances and Prostheses Medicines, Drugs and Dressings Intensive Care Day-Care	Full Refund	Full Refund	Full Refund	Full Refund
Post-Hospitalization Treatment	Nil	Nil	Nil	Nil
Chronic Conditions
First Onset	11,000,000	11,000,000	11,000,000	11,000,000
Ongoing Management	5,500,000	5,500,000	5,500,000	5,500,000
Maternity Cover (10 Months Waiting Period) Pre-Natal Examinations by a Physician All costs of Normal Childbirth or C-Section (elective or non-elective) Post-Natal Examinations by a Physician	Nil	Nil	Nil	1,100,000
Thailand Zone
Hospitalization Costs	Nil	Nil	Nil	44,000,000
Transportation Costs				2,200,000
Transportation Costs for Treatment not available in the Geographic Area				5,500,000
Additional Deductible for Treatment outside the Geographic Area				55,000
Outpatient Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Physicians fees, Prescription Drugs and Dressings Specialist and Consultant Fees Diagnostic tests, medical scanning and imagery services	220,000	440,000	660,000	660,000
Optical Care One annual Vision test Glasses Glaucoma Test for Participants over 45 years	Nil	Nil	Nil	220,000
Dental Care Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Dental Treatment Dental Surgery	Nil	Nil	Nil	220,000
Personal Accident Benefits	Benefits up to	Benefits up to	Benefits up to	Benefits up to
Accidental Death Loss of Sight or Loss of Limb Permanent Total Disablement	11,000,000	11,000,000	11,000,000	11,000,000

Renewal Period	First Year	Second Year Onward
Health Bonus %	10%	5%

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All Risks Insurance

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