The policy covers two sections:
Section I – Material damage
- The policy covers physical losses, damages or destruction of property due to any cause other than those specifically excluded in the policy.
Section II – Third-party liability.
- The policy covers the legal liability falling on the insured contractor as a result of physical injury or property damages suffered by a third party.
- Cross liability
- Removal of debris expenses
- Express freight, overtime charges
- Air freight
- Additional customs duty
- Owners’ surrounding property
The Policy will not cover any claim related to:
- War and related perils
- Nuclear reactions, radiation or radioactive contamination
- Willful act or willful negligence of the insured
- Cessation of work
- Defective material or poor labor work
- Inventory losses
- Faulty design
- Consequential losses