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Slide Notes

You may have a big construction job or you may be working on small jobs.

Insurance may the last thing in your mind, but it may also be your last hope when you suffer a big accidental loss.

Insurance for your job works much like your auto vehicles policy, but with some difference.

Do you know what car policy cover or does not?

Do you know what insurance cover you can get from your Insurer for your construction job?

Insurance For Contract of Works

Published on Nov 21, 2015

No Description

PRESENTATION OUTLINE

INSURANCE FOR WORKS

The Least You Should Know
You may have a big construction job or you may be working on small jobs.

Insurance may the last thing in your mind, but it may also be your last hope when you suffer a big accidental loss.

Insurance for your job works much like your auto vehicles policy, but with some difference.

Do you know what car policy cover or does not?

Do you know what insurance cover you can get from your Insurer for your construction job?
Photo by signither

condition of Contract

How to insure TNB projects

CEAR, CGL

CONTRACT, FREE ISSUE MATERIAL, TNB existing PROPERTY, LIABILITY

TNB CONTROL?

WIDE COVER THROUGH DIRECT NEGOTIATION

CONTRACTOR CONTROL?

ANY INSURER SUBJECT TO TNB APPROVAL

complete project

work with insurance market

A. SIMPLE

Basic Concept

1. WHY?

Transfer Risk, Share Risk
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2. HOW?

Pay small fee now, for BIG loss tomorrow

3. WHAT?

Contract between Insured and Insurer

B. COMPLICATEDd

Declare, Pay, Comply, Claim, Cooperate
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Declare

Works, Materials, Surrounding, Location, Period
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PREMIUM rate

Sum Insured = Contract + Free Issue + Property
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PREMIUM COST

Deductible, Sub Limits, Exclusions
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General Conditions

Sudden, Unforeseen, Accidental, Good Faith
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Strict Conditions

Preventive Measures, Physical Signs, Inspections
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Claim

Evidence, Photo, Witness, Document, Preventive

Cooperate

Insurer, Loss Adjuster, Bank Negara

C. SOLUTION

Understand How Insurance Work

1. PRINCIPAL CONTROL

vs CONTRACTOR CONTROL

2. INSURANCE MARKET

Insurer, Reinsurer, Broker, Claim Adjuster, Bank Negara

3. Condition of Contract

INSURANCE COVER DURING CONTRACT PERIOD

CHALLENGES #1

TO GET WIDE COVER

CHALLENGES #2

To EVALUATE TOTAL COST OF RISK

CHALLENGES #3

To insure adequately

ACTION #1

Notify needs for insurance early

ACTION #2

Act as if you have no insurance

Action #3

Provide supporting documents for loss

TO BE AMONG THE LEADING CORPORATIONS

We Are Committed to Excellence

ANWAR Ahmad Abidin

019-6649328 : ANWARA@TNB.COM.MY : TWITTER.COM\xanwara