Engineering and Construction Insurance

We combine transparency, technology and technical expertise to provide a world-class Engineering Insurance cover to our clients.

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Engineering and Construction Insurance provides coverage for risks associated with project owners, contractors, and other stakeholders.

Overall, engineering insurance plays a vital role in managing the risks associated with construction and engineering projects. It provides peace of mind to project stakeholders by mitigating financial losses that may arise from unforeseen events during the construction process.

Comprehensive engineering insurance cover provides opportunities for project managers and stakeholders to focus on the actual completion of their projects without constantly worrying about a financial debacle. Several engineering insurance policies are tailor-fit to suffice for the needs of every project, from machinery breakdown to third-party liabilities. Countries like India have witnessed speedy growth in infrastructure and construction activities, making engineering insurance one of the most popular forms of insurance. In this context, the work of engineering insurance brokers becomes paramount because they guide the client through various policy terms so that the best engineering insurance policy is at hand. They also help to manage the claims and make the process less arduous,especially with erection of all risk insurance.

Peace of Mind

Overall, engineering insurance plays a vital role in managing the risks associated with construction and engineering projects. It provides peace of mind to project stakeholders by mitigating financial losses that may arise from unforeseen events during the construction process.

Comprehensive engineering insurance cover provides opportunities for project managers and stakeholders to focus on the actual completion of their projects without constantly worrying about a financial debacle. Several engineering insurance policies are tailor-fit to suffice for the needs of every project, from machinery breakdown to third-party liabilities. Countries like India have witnessed speedy growth in infrastructure and construction activities, making engineering insurance one of the most popular forms of insurance. In this context, the work of engineering insurance brokers becomes paramount because they guide the client through various policy terms so that the best engineering insurance policy is at hand. They also help to manage the claims and make the process less arduous,especially with erection of all risk insurance.

Transfer of Risk

By transferring risks to an engineering insurance broker, project owners and contractors can focus on their core activities, knowing that they are protected against potential setbacks and liabilities with policies like erection all risk insurance.

Tailored Policies

Engineering Insurance Policies are Policies tailored to the specific needs of a project, taking into account factors such as Project Type, Size, Location and Duration.This includes comprehensive options like an industrial all risk policy.

Wide coverage of Risks

Engineering and Construction Insurance covers a wide range of risks, including construction risks such as Accidents, Theft, damage to materials and equipment and testing and commission.

Engineering and Construction Insurance

We combine transparency, technology, and technical expertise to provide a world-class Engineering Insurance cover to our clients.

Benefits of Engineering Insurance

01.

Financial Protection:

Provides financial coverage for unexpected events, reducing the financial burden on project stakeholders.

02.

Risk Management:

Helps in identifying and managing potential risks, ensuring that projects are completed on time and within budget.

03.

Customisation Policies:

Engineering insurance policies can be customized to fit the specific needs of different projects, whether it’s a small-scale construction or a large engineering venture.

04.

Compliance:

Ensures that all engineering projects comply with legal and regulatory requirements, particularly in jurisdictions like engineering insurance in India.

05.

Enhanced Credibility:

Having insurance for engineering contractors enhances their credibility and trustworthiness among clients and stakeholders.

06.

Operational Continuity:

Minimizes disruptions in operations by providing quick claims processing and settlements especially with business interruption insurance

07.

Peace of Mind:

Offers peace of mind to project owners, contractors, and stakeholders, knowing they are protected against unforeseen events.

Key products handled by the vertical include

Car Policy

Contractor’s all risks insurance is one of the most common forms of engineering insurance. It covers risks related to construction activities, such as damage to the worksite, materials, and equipment, as well as liability for injury to workers or damage to third-party property.

Erection all Risk

Provides coverage for equipment used in the construction process, including machinery breakdown and damage.

Delay in start-up insurance

Protects against financial losses incurred due to project delays caused by insured events. This coverage can include compensation for additional expenses, loss of revenue, and increased financing costs.

Our Strengths

Ethical Dealings

Recognized as one of the most reliable insurance brokers in the nation.

Global Presence

Proud member of the Unison Steadfast Brokers network, with a worldwide reach.

Customer Delight

Ensuring customer satisfaction remains our top priority.

Handling Large Risks

Expertise in managing large Indian multinational corporations, many of which are global industry leaders.

Advanced IT System

High investment in IT and ongoing innovation guarantee top-tier services for our clients.

Expert Core Team

Our core team consists of specialists in insurance, finance, law, and engineering.

Global Services Capability

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Why choose First Policy for your employees ?

Industry-Leaders

Construction values from US $ 40 million to US $ 250 million.

Trusted Partner

To several large projects in the last 20 years.

Experienced

Have handled Marine construction i.e. most complicated as the risk.

Our Other Services

Claims

Reinsurance

Marine Insurance

Risk Management

Property Insurance

Liability & Credit Insurance

Employee
Benefits

Engineering & Misc. Insurance

Industries we serve

FAQs

Engineering insurance provides an assured contractor or employer with absolute protection from any physical loss or damage to the contract works, the construction, plant equipment, or machinery, and in addition, covers damage to property owned by a third party and bodily injury to third parties. Policies like industrial all risk policy ensure comprehensive coverage for such scenarios

The insurance will cover accidents and risks related to theft, material damage, and equipment, as well as those related to testing or commissioning. The insurance policy can be tailor-made depending on these factors: type, size, location, and duration of the project to suit the individual needs of a project. This includes specialized coverage like erection all risk insurance for specific engineering projects

A Contractor's All Risk policy is an all-risk, all-inclusive policy for indemnity for the construction of the project: it affords financial indemnification from property damage due to fire, theft, or natural disasters, and protects the construction equipment. Additionally, business interruption insurance can be crucial to cover financial losses during unforeseen disruptions.

By transferring risks to an insurance provider, project owners and contractors can focus on their core activities because they are protected from possible setbacks and liabilities. It would result in reduced financial burden and, above all, operational continuity.

Engineering insurance enables the identification of potential risks and their management, which leads to the completion of projects on time and within the set budget. It helps assess and mitigate risks in a structured way, an essential factor in successfully completing engineering and construction projects.