MIRABILIS offers a fully comprehensive range of Engineering Insurance Products as follows:
- Contractors' All Risks Insurance (CAR)
- Engineering Project Insurance Cover (EPIC)
- Advance Loss of Profits Insurance (ALOP)
- Contractors' Plant and Equipment Insurance (CPE)
- Plant All Risks Insurance (PAR)
Civil Engineering Completed Risks (CECR) Insurance
Some completed civil engineering structures are only exposed to a negligible fire hazard, and therefore a typical fire policy would be inappropriate. However, these structures can still be exposed to elemental perils, geological conditions, or hazards from operation and use of the structure.
It is a named peril policy, issued on an annually renewable basis, and is for material damage only.
Following a loss or damage, the policy indemnifies to repair/reinstate the structure to the condition prior to the loss event.
The main exclusions are: Political risks; Nuclear reactions, nuclear radiation or radioactive contamination; Willful act or willful negligence; Wear and tear, inherent defects; Lack of maintenance; Consequential loss
The perils covered are:
- Fire, lightning, explosion, impact of landborne or waterborne vehicles
- Impact of aircraft and other aerial devices or articles dropped therefrom
- Earthquake, volcanism, tsunami
- Storm (air movements stronger than grade 8 on the Beaufort scale)
- Flood or inundation, wave action or water
- Subsidence, landslide, rockslide or any other earth movement
- Frost, avalanche, ice
- Vandalism by individuals