CONTRACTORS’ ALL RISKS INSURANCE
This policy promises to indemnify the insured in respect of loss, damage, or destructions of any of the contract works both temporary and permanent while in the cause of construction or whilst on the contract site for which insured, or his agent is responsible and until handed over by the contractor to the employer.
The cover provided under the C.A.R. insurance policy can be classified into two basic sections. Section I provides cover for the material damage and section II for third party liability.
The policy will cover damage from internal source ie. Breakdown risk, the main element of which is the unforeseen and sudden damage caused by electrical or mechanical distortion or burnt out of any part of the computer while in use resulting from any defects in it.