Standstill covers under CAR and EAR insurance
Many CAR and EAR projects run smoothly, allowing the contractor to hand over the works according to the original time-schedule. Other construction or erection works experience delays or may even be suspended altogether.
If the financial foundations of ambitious engineering projects are shaken and made unstable in the wake of an uncertain economic environment, there is a marked increase in demand for insurance against the risk of interruption or standstill.
This publication sets out to explain this special line of engineering insurance to underwriters and other interested parties using the sub- and superstructure works of commercial building construction as an illustrative example.
