Contract Works and Plant

Overview

Contract Works

Builders, Groundworkers (inc light civils, tarmac, asphalt, paving, utilities) and Plant Hire are target as are the usual ‘vanilla’ trades. ‘Project’ risks are also sought.

We seek to avoid on this policy Hired-in plant in isolation, unless a Contract Works policy is taken out.

Risks with existing structure and/or high levels of BFSC can be accommodated. ‘High risk’ trades of Hot Roofing, Scaffolding, Demolition, Steel Erection and Heavy Civils can be considered, as can Basement Excavation, only if exceptionally good risks of the type with good claims experience. Risks with substantial exposure to timber frame construction are a problem. Asbestos removal is a (liability) decline.

Contractors Plant

Construction and non-Construction trades/businesses sought, particularly Plant Hire.

Risks without a three year trading record will attract premium loading, unless there is a good ‘story’.

We seek to avoid on this policy Hired-in Plant in isolation, unless a Contract Works policy is taken out.

Non-target risks can be included under one of our other facilities.

 

 

Contractors Works

Premium

  • No minimum, no maximum

Main Limits

  • Contract Works – LOI optional. We refer after £5M
  • Employees Tools – LOI optional

Standard Features

Works
  • Maximum Contract Period 18 months
  • Maximum Maintenance Period 18 months
  • Escalation 25%
  • Speculative Development – 240 days, includes part exchange
  • Transit includes Ro/Ro ferry
  • Cessation of works extended period 90 days
  • 72 hour excess clause
  • Defects exclusion DE4 as standard, DE5 with DE4 dropdown available
  • Defective Design Value (break-out costs)
  • Existing Structure available
  • Additional Construction Costs
  • Expediting Expenses
  • Fly Tipping
  • New Activities/Entities
  • Show Homes & Contents
  • Non-vitiation
  • Investigation Costs
  • Loss Prevention Measures
  • Fire Brigade Charges
  • Contents of Site Huts
  • Stock
  • Testing & Commissioning
Terrorism
  • Available (12 month, renewable)

Contractors Plant

Premium

  • No minimum, no maximum

Main Limits

  • Own Plant – LOI optional. We refer after £10M
  • Hired-in Plant – LOI optional. We refer after £2M
  • Employees Tools – LOI optional
  • Third Party Machinery Movement – LOI optional. We refer after £500K

Standard Features

  • 24 month re-instatement as new (own plant)
  • Additional Finance Costs (GAP) available
  • Additional Hire Costs
  • Adverse Weather (mobile crane)
  • CPA Contract Lift
  • Immobilised Property
  • New Activities/Entities
  • Investigation Costs
  • Loss Prevention Measures
  • Removal of Debris
  • Loss of Keys
  • Signage and Livery
  • Temporary/Fast-track repair
  • Transit by Ro/Ro Ferry
  • Inadvertent Failure (service of hire conditions)

Terrorism

  • Available (12 month, renewable)

Note:
Addition of cover for Hire with Waiver is possible but is not yet within our authority. Expected soon.