NON-MARINE & GENERAL INSURANCE

Non-Marine risks are considered together, not because they are not worthy of individual attention, but because the underlying principles that govern their treatment for insurance purposes are quite similar. At Risk Watch, the Insurance Broking Division handles many aspects of this category of insurance business including the following:

Construction Insurance

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Risk Watch is very familiar with the insurance needs of the construction industry, paying particular attention to the very large projects undertaken by major international contractors. Projects include highways, bridges and tunnels, airports and harbours, dams and underground projects; refineries, smelters, steelworks, manufacturing and assembly plants of all kinds.

Risk Watch prefers to work with clients from the conceptual stages so that all possible risk management and loss prevention measures can be incorporated into the design. This way, when a project is put to tender, a comprehensive insurance package has already been built into the contract. All relationships between the owner, the engineer and the sub-contractors unique to each project are identified and each party is aware of the extent of their liability and how to manage it.

Risks associated with construction include delay in completion and performance bonding; in addition, there are political and financial risks and professional indemnity.

Policies available in this area include:

Contractors All Risks Insurance – which covers all risks associated with construction contracts of all description including the contract works, materials on site, contractors equipment, third party liability and associated risks.

Erection All Risks Insurance – which covers risks associated with the erection of plants and machinery for factories, refineries, power stations and such risks.

Motor Insurance

motor-insurance
As the name implies, Motor Insurance basically refers to the insurance of vehicles against accidental damage, fire, or theft or injury incurred in the course of driving a vehicle. Vehicle here refers to any form of automobile ranging from motorcycles to forklifts.

The standard types of policy available are as follows: