Object of insurance is the Policy-holder’s (Additional Insured’s) proprietary interest not contrary to the Laws of the Republic of Kazakhstan, associated with ownership, use, and disposition of a construction (erection, reconstruction, repair) object, building and erection equipment, vehicles, materials, and other property, used at the construction site, and with the Policy-holder’s (Additional Insured’s) liability to compensate for the harm caused to the third party’s life, health, and property in view of any sudden or unforeseen events during building and erection works performed by the Policy-holder and within the term of insurance, according to the civil legislation of the Republic of Kazakhstan.
Event insured shall be considered a fact of causing harm to works, cargoes, construction machinery, and temporary structures, existing structures, the harm caused during the term of insurance, injury caused to the all-risk object insured, causing harm to the third parties’ life, health, and property as a result of:
1. disaster / natural phenomena ( tornado , hurricane, storm, tornado , lightning strike , avalanches , mudflows, earthquake , landslide , landslide , flood, floods , unusual for this area rainfall , groundwater flooding vodv
2 . fire, explosion ;
3 . fall manned aircraft , their fragments ;
4 . acts of third parties : burglary, robbery and robbery ;
5 . failure of utilities ( water, sewer , heat , electricity ) ;
6. installation errors ;
7. breaks ropes and chains falling parts , including mounted units and parts thereof, and other items;
8. failure or damage to the facility , including crumbling or falling parts;
9. other sudden and unforeseen events on site , this is not excluded .
An Insured can be a Construction Manager, a Main Contractor, a subcontractor.
Term of insurance is the term of construction and erection works execution, starting from preparatory works and beginning with putting into operation.
Term of insurance can be prolonged for the warranty period of commissioned facilities.