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Al-Ittihad Al-Watani has acquired extensive experience over the years in protecting such entities as engineering projects and banks.
Al-Ittihad Al-Watani has insured large engineering projects both in Lebanon and in the Arabian Gulf. The company's coverage in this area includes:
* Contractors All Risks (CAR)
* Erection All Risks (EAR)
* Contractors Plant & Machinery (CPM)
* Electronic Equipment (EE)
* Consequential Loss due to Machinery Breakdown (MB)
* Bankers Blanket Bond (BBB)
* Credit Insurance
Contractors All Risks (CAR):
CAR is a global and comprehensive coverage, granting protection against loss or damage with respect to contract work, construction plant and equipment, and machinery on site. Options may be included to cover Third Party Liability and various other extensions.
Erection All Risks (EAR):
EAR grants protection against the risks involved in the erection of machinery, plant and steel, and Third Party Liability. It is usually sought when engineering works are more than civil works.
Contractors Plant & Machinery (CPM):
CPM indemnifies the insured against loss or damage to machinery of all types, mechanical equipment, whether at work or at rest while on site.
Electronic Equipment (EE):
EE is an all-risk insurance for electronic equipment, such as computers and high technology equipment.
Consequential Loss due to Machinery Breakdown (MB):
Consequential Loss indemnifies the insured against loss of profit due to business interruption following machinery breakdown.
Bankers Blanket Bond (BBB):
BBB is a comprehensive cover for banks, including:
* Employee dishonesty on the premises.
* Property loss or damage on the premises.
* Property loss or damage in transit in the custody of the assured's employee.
* Forged signature or fraudulent alteration of a check or security issued or paid by the assured.
* Counterfeit currency.
* Loss or damage caused to the insured's offices and contents, due to theft.
Credit Insurance:
Credit insurance indemnifies the insured against loss arising as a consequence of a buyer's inability to pay for goods sold and delivered to him on credit terms.
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