A protection plan for Contractors & Developers to meet their obligations under contract conditions for civil engineering works awarded to them such as the construction of buildings, infrastructure and other civil engineering works.
This plan can be extended to include the maintenance period from any cause not specifically excluded.
The certificate ceases at the completion of the project and is handover to the Principal. The Contractor`s All Risk certificates are not annual certificates and as such are not renewable. The certificate also provides indemnity in respect of third-party liability, which the Participant shall become legally liable for arising from carrying out the contract works.
Cover material damage
Cover Third party liability
Licensed contractors with the Letter of Award.
The total annual contribution that you have to pay may vary depending on the risk exposure, our underwriting requirements and the sum covered by the property. Subject to a minimum contribution of RM250.00.
This plan does not cover certain losses, such as:
You may cancel your certificate by giving a written notice to us. Upon cancellation, you are entitled to a partial refund of the contribution provided you have not made any claim.
The benefit(s) payable under eligible product is protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to limits. Please refer to PIDM’s Takaful and Insurance Benefits Protection System (TIPS) Brochure or contact Takaful Malaysia or PIDM (visit www.pidm.gov.my/en).
