Erection All Risks

Tamkeen Insurance Company offers property owners and contractors special insurance program for protection against comprehensive installation risks that may occur in projects under execution that indemnify subscriber/policyholder (contractor / owner) from any financial burdens for the reparation of damages and/or loss due to installation errors during project implementation, subject to flexibility considerations in meeting specific insurance needs.

The Company is committed to fulfilling its obligations towards subscribers (policyholders) and to responding quickly and promptly after any incident, in a professional environment built upon clarity and credibility in order to achieve the vision of creating an integrated partnership with subscribers (policyholders). The Company is committed to its mission and corporate identity based on the full adoption of the principles and standards of application of insurance compliant with the provisions of Islamic Sharia’a.

Insurance Coverage:

Under the Erection All Risks Insurance Program, Tamkeen is committed to disbursement of reparations for damages and/or loss incurred by contractor / owner due to the following risks:

Material risks include:

Project-associated property located, stored and/or transferred on site.
Contractor's equipment, machinery and temporary equipment required for project on-site construction.
Costs incurred from rubble removal as a result of excavation or automatic demolition.
Loss of fees paid to architects/consultants in the event of an accident at the project site and costs of overtime, rapid transport, and maintenance visit incurred due to the accident.

Third Party Liability Risks:

Physical injury and/or death as a result of project activities under implementation.
Damages to property of a third party.

Mutual liability risks specific to owner/ contractor of project under implementation.

Physical injury and/or death or other material damages to subscribers (policyholder) and associated workers (owner/ contractor(s) / engineer(s))

Calculate the Value of Insurance Subscriptions (Premiums):

The value of insurance subscriptions (premiums) are calculated on the basis of the type of risk covered by the insurance, total insurable value (maximum limit of indemnity) the nature of project under implementation, project duration, and deductible value (incident charges / fees) agreed upon with the insured person/party.

Subscriptions (premiums) are calculated as a percentage per thousand of the total insurable value) maximum limit of indemnity)

Apply for this program