Construction projects involve a multitude of risks. Understanding the differences between EAR (Erection All Risk) insurance and third-party liability insurance is crucial for effective risk management. EAR protects the insured’s own property (equipment and materials)…
Construction projects involve the installation of expensive equipment and machinery. Erection All Risk (EAR) insurance acts as a safety net, protecting contractors and builders from financial burdens if this equipment gets damaged during the installation…
Entering an EPC (Engineering, Procurement, and Construction) contract involves mitigating risks throughout the project lifecycle. Construction All Risk (CAR) insurance plays a crucial role in safeguarding both the project and the customer’s financial well-being. What…
Entering an EPC (Engineering, Procurement, and Construction) contract is a complex undertaking. To ensure a smooth and protected project journey, various insurance policies are crucial. Let’s explore some of the most common ones: Beyond these…
Sometimes, even a well-designed product can become dangerous. This is where manufacturing defects come in – imperfections introduced during production that can cause serious problems. What are Manufacturing Defects? Imagine a faulty electrical component due…
Have you ever encountered a product that seems unsafe by its very design? That’s a design defect – a built-in flaw that can cause serious harm. Let’s understand this potential threat lurking within seemingly ordinary…
The principle of insurable interest is a fundamental concept in insurance. It ensures that insurance is used for its intended purpose: protecting against genuine financial losses. This principle states that the policyholder must have a…
In the realm of insurance, the principle of onus of proof plays a critical role in the claims process. It refers to the responsibility of the insured to demonstrate the validity of their claim when…
In the world of insurance, the principle of insurable interest is crucial. It defines the legitimate financial stake an individual or entity has in the subject matter of an insurance policy. This principle is fundamental…
