Our Hull Builders’ Risk cover includes MarCAR formulas to cater for a variety of different claims situations allowing for greater clarity and ease of claims valuations and calculations.
- Specific construction perils
- Liability, including collision liability and protection and indemnity liability
- Specific perils related to war
- Strikes, terrorism and malicious acts
- Different indemnity situations
- Defects buyback
- Debris removal
- Transit cover for any item covered by the policy being moved between the supplier’s or sub-contractor’s premises and the building yard specified in the policy
- Un-named parties are catered for as Additional Assureds but are only covered according to their contract.
- The sum insured is broken down in detail as regards both new builds and alterations/extensions, as is the escalation percentage.
- Where cover is provided, there are specific Limits of Liability for
- collision liability
- failure to launch
- allocated series costs
- debris removal
- expediting expenses
We know that some of our customers still prefer to use more traditional Builders’ Risk insurance products. To ensure that you can choose cover you’re comfortable with, we also offer a wording based on the Institute Clauses for Builders’ Risks.