Procedure for providing insurance coverage for a Construction Project
Purpose :
To document a procedure for providing insurance coverage for a construction project.
Objective :
To ensures that all identified risks at a construction site are adequately covered under insurance.
Scope :
This procedure is applicable to all the projects that the company proposes to develop.
Quality Records
Copies of insurance polices Associated Procedure
1. Following types of insurance policies are commonly taken at the project site.
a) Contractor’s all risk ( C.A.R )
b) Workmen’s compensation ( W.C )
c) Third party liability
d) Marine cum Erection (if required)
2. Onus of taking insurance cover shall be with the contractor. It shall be the responsibility of the PM to ensure that appropriate clause is mentioned in the tender document while inviting the tenders for taking out policies as above.
3. It shall be the responsibility of the PM to ensure that the requisite policies are obtained by the contractor and that the policies as above.
The PM shall retain copies of the insurance policies in force at the site office.
Purpose :
To document a procedure for providing insurance coverage for a construction project.
Objective :
To ensures that all identified risks at a construction site are adequately covered under insurance.
Scope :
This procedure is applicable to all the projects that the company proposes to develop.
Quality Records
Copies of insurance polices Associated Procedure
1. Following types of insurance policies are commonly taken at the project site.
a) Contractor’s all risk ( C.A.R )
b) Workmen’s compensation ( W.C )
c) Third party liability
d) Marine cum Erection (if required)
2. Onus of taking insurance cover shall be with the contractor. It shall be the responsibility of the PM to ensure that appropriate clause is mentioned in the tender document while inviting the tenders for taking out policies as above.
3. It shall be the responsibility of the PM to ensure that the requisite policies are obtained by the contractor and that the policies as above.
The PM shall retain copies of the insurance policies in force at the site office.
