Contractors' all risks insurance
Successful underwriting requires that all aspects of construction projects be fully considered.
For a number of years, Contractors' All Risk (CAR) was looked after by property underwriters, and some companies still operate on this basis.
However, much of the larger companies as well as insurance brokers decided long ago to train or hire specialists for this type of business. The professionals in this field today, insurers, reinsurers and brokers alike, all have engineers on their staff, which is not surprising considering the complexity of many of today's construction projects.
This publication outlines the insurer’s influence on the various project phases and the insurance-related clauses of the standard FIDIC contract and the CAR policy.
