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Nasco Gulf specializes in providing comprehensive and flexible insurance policies for all corporate insurance needs. Backed by personalized service and tailor-made policies with a cost-effective premium, Nasco has remained on par with the UAE’s phenomenal economic growth and its evolving needs.

 

The Nasco Gulf Team is passionate about their business; it is because of their dedication, integrity and professionalism, that we continue to achieve our goals. As we look into the future, it is essential to pay tribute to the founders of the Nasco Insurance Group, the Nader and the Karaoglan families. Without their vision, guidance and ambition, the dream would never have been realized.

 

We are proud to be the agent of Emirates Insurance Company, one of the leading insurers in the Gulf, and with whom we have enjoyed a long and prosperous association in the UAE.

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Erection All Risk

As in all businesses, there are various risks involved when erection work is being carried out, as well as during the maintenance period that follows.

Erection All Risks Insurance provides adequate protection against loss or damage with respect to the site risks involved in erection of machinery and plants as well as steel structures of any kind.

 

It covers:

 

  • Contract works
  • Construction plant and equipment
  • Bodily injury or material damage to third parties resulting from the execution of the project.

 

 

This cover is suitable for


  • The manufacturers or suppliers of machinery or plant in case they are carrying out the erection work or are responsible for it
  • The firm commissioned with the erection work
  • The Buyer of the machinery or plant to be erected

 

Risks Covered

Section 1: Physical Loss or Damage

Covers loss or damage to contract works, materials or items being used in the contract works from:

 

  • Accidental damage
  • Collapse
  • Fire and lightning
  • Aircraft
  • Impact collision
  • Earthquake
  • Malicious damage
  • Flood, storm and tempest
  • Cyclone and hurricane
  • Burglary
  • Breakdown or explosion to any part of the contract
  • Consequent Damages due to defects in material casting, workmanship and design
  • Strikes, Riot and Civil Commotions
  • Subsidence
  • Landslide
  • Faults in erection

 

Section 2: Third Party Legal Liability

This section covers your liability towards third parties arising due to negligence:

 

  • Compensation for accidental death or bodily injury.
  • Damage to or loss of property excluding property belonging to or in the care, custody and control of the insured
  • Including legal costs incurred subject to the prior consent of the insurer.

 

Period of Insurance

Policy covers the full contract period of the erection work but you have the option to extend it to cover:

 

  • Testing and commissioning
  • Maintenance period related to the contract works
  • Decennial liability

 

Extensions Available

Plant and equipment belonging to the contractor or in his custody and control whilst used in contract works:

 

  • Property belonging to the principal
  • Design defect

 

Major Exclusions

 

  • Plant and equipment belonging to assured
  • Machinery breakdown
  • Unexplained losses
  • War, sabotage and terrorism.

 

Deductible

A deductible for each and every loss under the policy may be applicable under some sections of the policy.

 

Premium Rate

Premium rates are based on:

 

  • Contract Value
  • Limit of liability
  • Contract Period
  • Nature & type of project
  • Experience of the contractors in similar type of projects
  • Value of Construction Plant & Machinery
  • Extensions opted for

 

Important Information

Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.

 

For more information, please contact Nasco Gulf at +971 4 351 8610.

 

Claims Settlement

You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.

 

Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610

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