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    Quotation Sample PDF

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    Nitin Gehlot
    This document is a quotation for Contractors' Erection All Risks Insurance. It provides details of the policy including insured parties, project details, period of insurance, sums insured, deductibles, and clauses. The project involves construction of a coal fired boiler plant in Bontang, Kalimantan Timur, Indonesia over an estimated 24 month period. Coverage includes material damage up to USD 30 million and third party liability up to USD 5 million. The premium quoted is 0.20% of the sums insured.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Quotation Sample PDF

    Uploaded by

    Nitin Gehlot
    274 views3 pages
    This document is a quotation for Contractors' Erection All Risks Insurance. It provides details of the policy including insured parties, project details, period of insurance, sums insured, deductibles, and clauses. The project involves construction of a coal fired boiler plant in Bontang, Kalimantan Timur, Indonesia over an estimated 24 month period. Coverage includes material damage up to USD 30 million and third party liability up to USD 5 million. The premium quoted is 0.20% of the sums insured.

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    This document is a quotation for Contractors' Erection All Risks Insurance. It provides details of the policy including insured parties, project details, period of insurance, sums insured, deductibles, and clauses. The project involves construction of a coal fired boiler plant in Bontang, Kalimantan Timur, Indonesia over an estimated 24 month period. Coverage includes material damage up to USD 30 million and third party liability up to USD 5 million. The premium quoted is 0.20% of the sums insured.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    274 views3 pages

    Quotation Sample PDF

    Uploaded by

    Nitin Gehlot
    This document is a quotation for Contractors' Erection All Risks Insurance. It provides details of the policy including insured parties, project details, period of insurance, sums insured, deductibles, and clauses. The project involves construction of a coal fired boiler plant in Bontang, Kalimantan Timur, Indonesia over an estimated 24 month period. Coverage includes material damage up to USD 30 million and third party liability up to USD 5 million. The premium quoted is 0.20% of the sums insured.

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    © All Rights Reserved
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    CONTRACTORS’ / ERECTION ALL RISKS INSURANCE

    QUOTATION

    TYPE OF COVER : CONTRACTORS’ / ERECTION ALL RISKS INSURANCE

    POLICY WORDING : Standard Munich Re wording

    INSURED : PT. ABC Contractors as main Contractors and/or


    Principal and/or Sub-Contractors and/or subsidiary and/or
    associated companies and/or affiliated companies of the
    insured and/or others for whom the insured has agreed to
    obtain insurance and/or other companies as may be
    advised and/or others for whom the insured has agreed to
    insure throughout the period of this policy for their
    respective rights and interests.

    THE PROJECT NAME : Coal Fired Boiler - Plant

    THE PROJECT SITE : Fertilizer Plant at Bontang, Kalimantan Timur,


    Indonesia

    PERIOD OF INSURANCE : TBA estimated 24 months including 3 months for testing


    and commissioning plus 12 months of Maintenance Period

    THE INTEREST : Section I – Material Damage


    Works, temporary works, temporary building, materials,
    stocks and all property of whatsoever nature or description
    forming part of the contracts as defined at the site of the
    Insured contract works and elsewhere in the territorial limit
    including while in transit (if applicable).

    Section II – Third Party Liability


    Legal liability to third party of bodily injury and/or property
    damage arising out of the contract works.

    SUM INSURED : Section I – Material Damage


    USD 30,000,000 on Contract Works (including VAT 10%)

    Section II – Third Party Liability


    USD 5,000,000 anyone occurrence and/or in the aggregate
    during the period of insurance

    DEDUCTIBLE : Section I – Material Damage


    o USD 50,000,- each and every loss, where the loss or
    damage is due to Act of God e.g (Earthquake, Storm,
    Tempest, Flood, due to Water Damage, Subsidence,
    Landslide and any other natural perils.
    o USD 100,000,- each and every loss, where the loss or
    damage arising from Testing and Commissioning, and
    Manufacturer risk for the Coal Fired Boiler.
    o USD 75,000,- each and every loss, where the loss or
    damage arising from Testing and Commissioning, and
    Manufacturer risk for other plants
    o USD 25,000,- each and every loss arising from all
    other events

    Section II – Third Party Liability


    o USD 5,000,- each and every loss

    CLAUSES : - END.001 Strike, Riot and Civil Commotion (SRCC)


    - END.002 Cross Liability
    - END.004 Extended Maintenance Cover
    - END.005 Time Schedule
    - END.006 Overtime, Night Work and Express Freight
    (Max. Limit USD 250,000)
    - END.013 Offsite Storage (Max. Limit USD 1,000,000
    within Indonesia Territory)
    - END.110 Safety Measures with respect to Inundation
    - END.115 Designer's Risk
    - END.116 Contract Works Taken Over or Put into Service
    - END.120 Vibration, Removal or Weakening of Support
    - END.121 Piling Foundation and Retaining Wall Works
    - END.119 Existing Property (Max. Limit USD 1,000,000)
    - END.200 Manufacturers Risks
    - END.206 Fire Fighting Facilities
    - END.207 Camp and Stores
    - END.208 Underground Cables and Pipes
    - END.220 Inland Transit (Max. Limit USD 1,000,000 per
    Conveyance)
    - Automatic Reinstatement of Sum Insured Clause (with
    additional premium)
    - Escalation Clause (10%)
    - Loss Notification Clause (30 days)
    - Removal of Debris (10% of Sum Insured)
    - 50/50 Clause
    - Hot Testing and Commissioning Clause
    - Repeat Test
    - LEG 2/96
    - Waiver Subrogation (against the principal and named
    insured)
    - Professional Fee Clause (10% of Sum Insured)
    - Fire Brigades Clause
    - Fire Extinguishment Clause
    - Free Issued Material
    - Plan and Document Clause
    - Public Authorities Clause
    - Landslip and Subsidence
    - Payment on Account Clause (25%)
    - Deferred Premium Clause (4 times)
    Warranted first installment to be paid 50% at 30th days from the
    commencement of this insurance and second and subsequent
    installments are each due on 20% at 60th, 20% at 90th and 10% at
    120th days from inception otherwise insurance automatically cancelled
    with the Company accepting no liability arising from any accident. In
    the event of Total or Constructive Total Loss, all future installments
    become immediately due
    - Site Visitors and Ceremonies
    - Indonesia Jurisdiction Clause
    - Time Adjustment Clause (72 hours)
    - Extra Contractual Obligation Exclusion Clause
    - NMA 2920 Terrorism Risk Exclusion Clause
    - Electronic Data Exclusions

    PREMIUM : 0.20%

    Jakarta, 4 April 2009


    Signed for and on behalf of the Company
    PT.ASURANSI XYZ INDONESIA

    -------------------------------------------------

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