Why and What of Contractor s All Risks Insurances" AN EIMS PRESENTATION Cas Hansa

Transcription

1 Why and What of Contractor s All Risks Insurances" AN EIMS PRESENTATION Cas Hansa 2011

2 Synopsis A 'thumbnail' view of the scope of a typical Contractor's All Risks (projects works) insurance policy (via a gallery of photos). A 'tour' of the Eskom Insurance internet/website - a knowledge centre - of the project-works insurance programmes for Dx, Tx and Gx. Necessary steps to follow in the event of loss or damage experiences on site or with shipment of goods/materials.

3 Introduction to Contractor s All Risk (CAR) Insurance Source: The Council on Tall Buildings and Urban Habitat

4 Projects Insurable under a Contractor s All Risk Policy Bridges (storm event)

5 Projects Insurable under a Contractor s All Risk Policy Tunnels (flood, collapse?)

6 Projects Insurable under Contractors All Risk Policy Pipelines (dewater; debris removal)

7 Projects Insurable under a Contractor s All Risk Policy Paper Mill (test & commission right at the end)

8 Projects Insurable under a Contractor s All Risk Policy Wind Turbines (collapse; mechanical; lightning)

9 Projects Insurable under a Contractor s All Risk Policy Source: Samsung Electronics Co., South Korea Semiconductor Plants (workmanship; fires?)

10 Projects Insurable under a Contractor s All Risk Policy Source: Siemens.com Gas Turbine (dropping; blade damage?)

11 Projects Insurable under a Contractor s All Risk Policy Complete Thermal Power Plants

12 Projects Insurable under a Contractor s All Risk Policy Chemical Plants (explosions)

13 Exposures Accidental Damage to the Works and to Third Party Property (the Municipal main/pipe and the neighbour s property Contractor accidentally burst Municipal (3 rd Party) water main

14 Exposures 3 rd Party Church Premises damaged Contractor s Equipment New Shopping Complex works area Third Party Liability damage to Building and Boundary Wall

15 Exposures Concrete spillage damage to (Third Party Property)

16 Exposures Concrete spillage damage to Third Party Property

17 Exposures Note: The (CAR) Works policy does NOT cover consequential loss such as loss of profits, penalties, time delays, loss of income, etc. However, if legally liable the TPL Section of the CAR Policy will respond to loss or damage caused to Third Party Property, eg negligent, accidental damage to a Power Cable Consequential Loss vs a TPL Deterioration of Stock Loss

18 Exposures: Acts of God Mr Noah, don t you think the prophesies of a global climate change are a bit exaggerated?

19 Exposures A Local Community damaged a sports facility being built. Indications were they were unhappy with the low cost structures built versus the high standard promises made to them. Importance of social compacts being well publicised and fully approved by all key community members! SASRIA : Strike, Riot, Civil Commotion and Terrorism

20 Exposures Theft of Materials (especially copper!)

21 Exposures Theft of Materials

22 Exposures Equipment: The responsibility of the Contractor-Owner. These items must be insured so that in the event of loss/damage they can be urgently repaired or replaced. Fire Damage to Equipment [or SASRIA damage?]

23 Projects Insurable under a Contractor s All Risk Policy Works; Surrounding Property; Employer s Property; Third Party Liability; Equipment.

24 Internet Repository Policies and Procedures: [Generally Tx Projects < than R500million, and Gx Projects < than R350million] Format A Project Works (Annual Contractor's All Risks) Master Insurance Policy SASRIA Master Policy Format A Marine Insurance Policy Marine Policies and Procedures Format A Works Insurances Guidance Schedule

25 Internet Repository Cont d. Similarly, Policies and Procedures: [For any contract related to the Projects Listed for the so-called Floater Insurance Programme] Similarly, Policies and Procedures: [Generally all Dx Projects < than R500million] Similarly, Policies and Procedures. [Contact EIMS for details]

26 Internet Repository Cont d. Claims Handling Policies and Procedures: General Claims-Handling Flowchart Marine-Specific Claims Handling Procedures Works Damage Claim Form Third Party Liability Claim Form SASRIA Claim Form

27 Internet Repository Cont d. Professional Services Contract Guidance Notes Contract Works Engineering Insurance Training Manual Marine Insurance Training Manual General Insurance Guidance Notes Eskom Insurance Management Services (EIMS) Contact Details

28 Internet Repository Cont d. Claims Handling Process Chart

29 29 JOH-ESK JvW-P2 Thank You