IPP / Chemical / Mining / Infrastructure

 

We introduce major insurance lines which are essential for oversea projects. Though the name of each insurance line depends on the country or applicable policy, commonly used names are picked up here. Additionally, other than those listed below, there are compulsory insurance lines (e.g., workers’ compensation, automobile) required by insurance business law in specific countries and selective insurance lines (e.g., Environmental Impairment Liability, Political Risk Insurance, Terrorism Insurance) to be arranged if needed. Please feel free to contact us for further details.

I Construction Period

  Insurance Line Coverage
1 Marine Cargo Insurance (Marine Cargo) This insurance covers accidental loss or damage to equipment materials in the course of international transit from the factory to the project site on an "all risks" basis, whether by air, sea or land.
2 Construction All Risks Insurance (CAR) The insurance covers the accidental loss or damage to the project works on an "all risks" basis, including Extended Maintenance Coverage during the defects liability period.
3 Delay in Start-Up Insurance (DSU) This insurance covers income loss or specified additional expenses during a delay to commencement of project commercial operations caused by loss or damage to the project works insured under a Marine/CAR policy.
4 Third Party Liability (TPL) This insurance covers the legal liability for injury/death of third parties and/or damage to third party property caused during construction of the project.

II Operation Period

  Insurance Line Coverage
1 Property Damage Insurance (PD) This Insurance covers accidental loss or damage to property on an "all risks" basis, as well as machinery breakdown.
2 Business Interruption (BI) This insurance covers income loss or specified additional expenses during an interruption to commercial operations caused by loss or damage to the project works insured under a PD policy.
3 Comprehensive General Liability (CGL) This insurance covers the legal liability for injury/death of third parties and/or damage to third party property caused during operation of the project.

III Illustration (Construction - Operation)

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