Contractors All Risk Insurance Dubai by The New India Assurance Co. Ltd.

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  • Rais Hassan Saadi Building, 7th Floor Mankool Road, Dubai, United Arab Emirates
  • +97143525563
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Contractors All Risk Insurance in Dubai UAE – The New India Assurance Co. Ltd. Contact Details, Telephone Numbers, Website, Address, Location Map, Direction, Photos, Videos, Opening Hours, Email Address, Sale Promotions, Offers & Deals.

The New India Assurance Co. Ltd.

Address: Rais Hassan Saadi Building, 7th Floor Mankool Road, Dubai, United Arab Emirates
Tel: +97143525563
Website: www.nia-dubai.com

Contractors All Risk Insurance Dubai by The New India Assurance Co. Ltd.

Scope
The policy comprises of 2 Sections :
• Section I-Material Damage-covering physical loss, damage or destruction of the property insured by any cause, other than those specifically excluded in the policy.
• Section II-Third Party Liability-covering the legal liability falling on the insured contractor as a result of bodily injury or property damage belonging to a third party.

The main exclusions under Section I for which no claim is payable, are loss or damage due to:
1. faulty design
2. rectification of aesthetic defects of structure not relating to any physical loss or damage to the structure due to any accident, or of material defect or of workmanship defect.
The exclusion of defective material / workmanship is limited to the parts of the structure immediately affected and does not apply to any consequential loss to correctly executed items, arising out of the accident due to defective material or workmanship.
3. loss or damage due to gradual deterioration, atmospheric condition, rusting etc.
4. loss discovered only at the time of taking inventory.
5. loss arising out of penalty for delay, non-fulfillment of terms of contract.

Add on covers
The policy can be extended to cover the following items :-
1. construction equipment like scaffolding, shuttering materials
2. construction equipment like scaffolding, shuttering materials
3. damage to surrounding property not forming part of the contract work.
4. maintenance visit / extended maintenance cover to cover accidental loss or damage whilst carrying out any rectification during maintenance period and / or any amount incurred for rectification of such original defects or faults during construction.

The New India Assurance Co. Ltd.

The New India Assurance Co. Ltd. – New India started operations in India in 1919. Its first overseas office opened in London in 1920.
It is the only Indian Multinational general insurance company having operations in 23 countries and global reinsurance network spanning all the continents.
It has an “AAA” rating by CRISIL in India.
In the UK it has been underwriting business since early 1920’s and is also a party to one of the oldest reinsurance treaties.
It is also member of the Association of British Insurers (ABI), London Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters (ILU).
New India started its operations in Africa in the early 1950’s and is the leading and recognized insurer in some of the markets there.
In the GCC countries “NEW INDIA” has 5 offices and associate company in Saudi Arabia.
In Dubai ,The New India Assurance started its operations in 1961 under the prestigious banner of Rais Hassan Saadi Group.
This group was the first national firm of Ship Agent in UAE.
Their 85 year old track record speaks for the consistent professional approach to all business dealings.
Presently “RAIS HASSAN SAADI” are involved in Shipping, Warehousing, Forwarding, Towage and Lighterage, Travel, General Trading and Real Estate apart from this Insurance Agency

Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member – Sir Dorab Tata . Now owned by The Government of India on Nationalisation of Insurance Companies in India.
International Operations in 20 countries with a Network of 9 Branches, 7 Agencies, 1 Associate company and 3 Subsidiary companies.
Started operations in 1961 with Rais Hassan Saadi Group in Dubai. Catering to the needs of Dubai and Northern Emirates for last 52 years. Sharjah Branch has been opened in 2006.
Registered under the Ministry of Commerce, U.A.E. and forms part of The New India Assurance Company’s global Network.
Rated A(-) EXCELLENT by A.M. Best (Europe).

The New India Assurance Co. Ltd.

Address: Rais Hassan Saadi Building, 7th Floor Mankool Road, Dubai, United Arab Emirates
Tel: +97143525563
Website: www.nia-dubai.com

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