{"id":229018,"date":"2021-12-02T13:12:00","date_gmt":"2021-12-02T06:42:00","guid":{"rendered":"https:\/\/ayasompo.com\/elementskit-content\/dynamic-content-widget-17ba3e1-6\/"},"modified":"2021-12-02T13:53:03","modified_gmt":"2021-12-02T07:23:03","slug":"dynamic-content-widget-17ba3e1-6","status":"publish","type":"elementskit_content","link":"https:\/\/ayasompo.com\/en\/elementskit-content\/dynamic-content-widget-17ba3e1-6\/","title":{"rendered":"dynamic-content-widget-17ba3e1-6"},"content":{"rendered":"
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What is CAR?<\/h2>\n <\/div>\n
\n Constructor\u2019s All Risks (CAR)<\/b>
\nCovers the risks during
\n
    \n
  • Construction works of buildings such as office, factory, shopping mall, dwelling use <\/li>\n \n
  • Construction works of civil engineering such as construction of road, railway, quay, tunnel, dam, floodgate, airport, underground plaza <\/li>\n<\/ul> <\/div>\n <\/div>\n
    \n
    \n

    What is EAR? <\/h2>\n <\/div>\n
    \n Erection All Risks (EAR) <\/b>
    \nCovers the risks during
    \n
      \n
    • Installation and erection works of various machinery <\/li>\n
    • Construction works of plant, factory, etc. <\/li>\n
    • Erection works of superstructures of bridge, steel tower, etc. <\/li>\n<\/ul> <\/div>\n <\/div>\n
      \n
      \n

      What is the coverage? <\/h2>\n <\/div>\n
      \n

      Provide cover for any damage that occurs during the construction process.<\/p>\n\nSection 1-Material Damage<\/strong>\n

      \nCovers almost any sudden and unexpected material loss or damage occurring to the property insured on the site\n<\/p>\nSection 2-Third Party Liability<\/strong>\n
      \nWhen the Insured shall become legally liable to pay as damages consequent upon\n\na) accidental bodily injury to or illness of third parties (whether fatal or not)\n\nb) accidental loss of or damage to property belonging to third parties\n
      \n

        \n \t
      • occurring in direct connection with the construction or erection of the items insured under Section I<\/li>\n \t
      • happening on or in the immediate vicinity of the site<\/li>\n \t
      • during the Period of Cover<\/li>\n<\/ul> <\/div>\n <\/div>\n
        \n
        \n

        Who are the insured? <\/h2>\n <\/div>\n
        \n Insured can be\u00a0<\/strong>
        \n\nIn the name of the contractor, the principal or joint names depending on the project requirement.\u00a0All the concerned parties are:\u00a0
        \n\n\u2022\u00a0Principal, Owner or Employer\u00a0
        \n\n\u2022\u00a0Contractor\u00a0
        \n\n\u2022\u00a0Sub-contractor\u00a0
        \n\n\u2022\u00a0Consultant, Engineer\u00a0
        <\/div>\n <\/div>\n
        \n
        \n

        What is the Sum Insured? <\/h2>\n <\/div>\n
        \n
        Sum Insured<\/h5>\nTotal contract value (TCV) upon completion which includes\n
          \n \t
        • Engineering costs<\/li>\n \t
        • Cost of goods or works of suppliers (i.e. material cost) including<\/li>\n \t
        • Tax, custom duties<\/li>\n \t
        • Insurance cost, transportation cost<\/li>\n \t
        • Cost of construction\/erection (i.e. labor cost)<\/li>\n \t
        • Various other costs (e.g. commission)<\/li>\n \t
        • Service Equipment Supplied by the Principal<\/li>\n<\/ul> <\/div>\n <\/div>\n
          \n
          \n

          What is the Construction\/Erection Period? <\/h2>\n <\/div>\n
          \n
          Works Period<\/h5>\n
            \n \t
          • Commences<\/li>\n \t
          • Directly upon commencement of work or<\/li>\n \t
          • At the time after the unloading of subject matter of insurance from the conveyance on the site<\/li>\n \t
          • Expires<\/li>\n \t
          • At the time when the works are taken over by the principal or put into service or<\/li>\n \t
          • The date specified in the schedule<\/li>\n<\/ul> <\/div>\n <\/div>\n
            \n
            \n

            What type of insurance is Contractors\u2019 All Risks (CAR) insurance?<\/h2>\n <\/div>\n
            \n Contractors\u2019 All Risks (CAR) insurance cover the risks during\n
              \n \t
            • Construction works of buildings such as office, factory, shopping mall, dwelling use<\/li>\n \t
            • Construction works of civil engineering such as construction of road, railway, quay, tunnel, dam, floodgate, airport, underground plaza<\/li>\n<\/ul>\n

              How will it be protected?<\/p>\n

              \nContractors\u2019 All Risks provide cover for any damage that occurs during the construction process.<\/p>\n

              \nIf you want to know more about Contractors\u2019 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.<\/p> <\/div>\n <\/div>\n

              \n
              \n

              What is an Erection All Risks (EAR) insurance? <\/h2>\n <\/div>\n
              \n Erection All Risks (EAR) insurance covers the risks during\n
                \n \t
              • Installation and erection work of various machinery<\/li>\n \t
              • Construction works of plant, factory, etc.<\/li>\n \t
              • Erection works of superstructures of bridge, steel tower, etc.<\/li>\n<\/ul>\n
                \n

                What is the Erection All Risks insurance coverage?<\/p>\n

                \nErection All Risks insurance provide cover for any damage that occurs during the construction process.<\/p>\n

                \nIf 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.<\/p> <\/div>\n <\/div>\n

                \n
                \n

                Types of coverage available for Contractors' All Risks (CAR) and Erection All Risks (EAR) <\/h2>\n <\/div>\n
                \n

                Contractors' All Risks (CAR) insurance and Erection All Risks (EAR) insurance provide cover for any damage that occurs during the construction process.<\/p>\n\nSection 1-Material Damage<\/strong>\n\n

                Covers almost any sudden and unexpected material loss or damage occurring to the property insured on the site<\/p>\n\nSection 2-Third Party Liability<\/strong>\n\n

                When the Insured shall become legally liable to pay as damages consequent upon<\/p>\n

                  \n \t
                • accidental bodily injury to or illness of third parties (whether fatal or not)<\/li>\n \t
                • accidental loss of or damage to property belonging to third parties<\/li>\n \t
                • occurring in direct connection with the construction or erection of the items insured under Section I and<\/li>\n \t
                • happening on or in the immediate vicinity of the site<\/li>\n \t
                • during the Period of Cover<\/li>\n<\/ul>\n

                  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.<\/p> <\/div>\n <\/div>\n

                  \n
                  \n

                  What kind of business needs to take Erection All Risks coverage? <\/h2>\n <\/div>\n
                  \n

                  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.<\/p>\n\n

                  Be insured to be sure.<\/p>\n\n

                  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. <\/p> <\/div>\n <\/div>\n

                  \n
                  \n

                  What kind of business owner needs to take coverage for Contractors\u2019 All Risks insurance? <\/h2>\n <\/div>\n
                  \n

                  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.<\/p>\n\n

                  Be insured to be sure.<\/p>\n\n

                  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. <\/p> <\/div>\n <\/div>\n

                  \n
                  \n

                  Insurance Period for Contractors\u2019 All Risks (CAR) and Erection All Risks (EAR) <\/h2>\n <\/div>\n
                  \n

                  The coverage will start when\n

                    \n \t
                  • Directly upon commencement of work or<\/li>\n \t
                  • At the time after the unloading of subject matter of insurance from the conveyance on the site<\/li>\n<\/ul>\nand will expire\n
                      \n \t
                    • At the time when the works are taken over by the principal or put into service or<\/li>\n \t
                    • The date specified in the schedule<\/li>\n<\/ul>\n

                      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.<\/p> <\/div>\n <\/div>\n

                      \n
                      \n

                      How to calculate the sum insured value for Contractors' All Risks (CAR) and Erection All Risks (EAR)? <\/h2>\n <\/div>\n
                      \n Sum Insured value will be calculated based on total contract value (TCV) upon completion which includes\n
                        \n \t
                      • Engineering costs - Cost of goods or works of suppliers (i.e. material cost) including tax, custom duties, insurance cost and transportation cost,<\/li>\n \t
                      • Cost of construction\/erection (i.e. labor cost)<\/li>\n \t
                      • Various other costs (e.g. commission) and<\/li>\n \t
                      • Service Equipment Supplied by the Principal<\/li>\n<\/ul>\n

                        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.<\/p> <\/div>\n <\/div>\n \n <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"author":0,"parent":0,"template":"elementor_canvas","class_list":["post-229018","elementskit_content","type-elementskit_content","status-publish","hentry"],"yoast_head":"\ndynamic-content-widget-17ba3e1-6 - AYA SOMPO Insurance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ayasompo.com\/en\/elementskit-content\/dynamic-content-widget-17ba3e1-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"dynamic-content-widget-17ba3e1-6 - AYA SOMPO Insurance\" \/>\n<meta property=\"og:description\" content=\"What is CAR? 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