Singapore – Construction Engineering

As the global economy develops, companies are once again expanding their operations. Major construction projects provide a multitude of on-site and off-site risks and delays in completion can have expensive consequences. Our construction policies protect against the cost of physical loss or damage to building works, contract materials and equipment involved in onshore construction projects. In addition, we provide third party liability cover and advance loss of profit coverage.

Our dedicated underwriting team possesses the technical expertise, multi-lingual capabilities and breadth of knowledge necessary to mitigate the specialty risks associated with major construction and erection projects. At Allied World we pride ourselves on offering exceptional client support by being a committed and long-term insurance provider and partner.

Key coverage

  • Contractors All Risks
  • Erection All Risks
  • Third Party Liability (TPL) in conjunction with C/EAR cover
  • Advance Loss of Profit (ALoP) in conjunction with C/EAR cover
  • Contractors Plant and Machinery (CPM)/ Contractors Plant and Equipment (CPE) in conjunction with C/EAR cover
  • Operational cover in conjunction with CAR/EAR
  • Bespoke coverage solutions

Target classes

Contractors All Risks (CAR) – Civil works

  • Dams, canals and irrigation
  • Harbour construction/wet work
  • Infrastructure
  • Mining
  • Pipelines and storage tanks
  • Power transmission and distribution
  • Roadways, bridges, railways and tunnels
  • Telecommunications networks
  • Water and wastewater distribution

Contractors All Risks – Building construction

  • Commercial
  • Government
  • Industrial
  • Residential

Erection All Risks (EAR)

  • Chemical and pharmaceutical plants
  • Mining (processing) and mineral extraction
  • Manufacturing and process industries (e.g. automobiles, electronics and semiconductors, food and beverage, metals production and refining)
  • Oil, gas and petrochemicals
  • Power generation and transmission and utilities
  • Renewable energy (e.g. wind, solar, hydro, etc.)

Capacity

  • Capacity of up to US$100M
  • Delay in Start Up / ALoP Monitoring

Territories

Our focus is on projects located in Asia Pacific, but we can accommodate Asia Pacific based clients and underwrite projects located in Africa, Europe, North America and South America. Projects located in North America will only be considered if they are deemed highly-technical i.e. power plants/ tunnels, or if part of a Non-North American client portfolio.

Underwriting strategy

  • Building and maintaining long-term and reciprocal relationships with our brokers, cedants, and insureds
  • Delivering commercial underwriting expertise, excellent service and responsiveness
  • Providing excellent financial security
  • Working with brokers and insureds to provide innovative solutions and coverage provisions in line with local market conditions