Risk of Loss, Damage, Theft, Liabilities, Injury

Complete Project. Reduce Dispute.

Insurance is Second

First, Condition of Contract

Low Likelihood x High Impact

Accidental, Sudden, Unforeseen Physical Loss

Deductible, Limit, Exclusion, Condition, Warranty

Individual Contractor Control?

Easier, Cheaper, Faster Cover

Wide, Certain, Organize Cover

Works or Service?

Free Issue, PSP, Works, 3rd Party Liability

Contractual & 3rd Party Liability

Contractor's policy may be Acceptable

IMPROVE CONDITIONS, EXCLUSIONS AND LEGAL GAPS

Value of Material Given By Owner

RM100,000 or minimum 2o% of Sum Insured

Security Guarding, Inventory Record, Physical Sign

reinstatement cost directed by authority

Owner property, not part of work

HDD, Earth Excavation

PREVENT SUBROGATION AGAINST ONE ANOTHER

Separation of Insured

Misrepresentation of fact

Usually 6 or 12 months

Minimum RM100,000

Know what you are paying for

0.2% to 0.5% of Sum Insured

Contract Value & Free Issue

Until TOC or COD

Notify Insurer within 14 days. Do not admit liability.

Take reasonable care, as if not insured

Cooordinate and Provide Internal Advisory