黑料视频

Contractor All Risk (Insurance) Template for Saudi Arabia

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Key Requirements PROMPT example:

Contractor All Risk (Insurance)

"I need a Contractor All Risk (Insurance) policy for a large-scale solar power plant construction project in Riyadh, Saudi Arabia, with coverage starting from March 2025, including specific provisions for desert environmental conditions and solar equipment protection."

Document background
The Contractor All Risk (Insurance) policy is a specialized insurance document designed for construction projects in Saudi Arabia, providing comprehensive coverage against various risks associated with construction and engineering works. It is typically required for medium to large-scale construction projects and offers protection against physical loss or damage to the works, as well as third-party liability coverage. The document must comply with Saudi Arabian insurance regulations, including SAMA requirements and Sharia principles, making it distinct from similar policies in other jurisdictions. This type of insurance is often mandatory for major construction contracts and may be required by project lenders or owners as a condition for project financing or contract award. The policy typically covers the entire project duration from commencement of works through to testing and commissioning, with options for extended maintenance period coverage.
Suggested Sections

1. Parties: Identification of the insurer, insured contractor, and any additional insured parties

2. Background: Context of the insurance coverage, project details, and basis of the agreement

3. Definitions: Detailed definitions of terms used throughout the policy

4. Scope of Coverage: Detailed description of what risks and assets are covered under the policy

5. Sum Insured: Details of insurance amounts, limits, and sub-limits for different types of coverage

6. Premium and Payment Terms: Premium amount, payment schedule, and consequences of non-payment

7. Duration of Coverage: Policy period, including start date, end date, and any extension provisions

8. General Exclusions: Risks and circumstances explicitly excluded from coverage

9. Claims Procedure: Process for notification and handling of claims

10. Obligations of the Insured: Duties and responsibilities of the insured party

11. Termination Provisions: Conditions and procedures for policy termination

12. Governing Law and Jurisdiction: Specification of Saudi law application and dispute resolution procedures

13. Sharia Compliance Declaration: Statement confirming compliance with Islamic principles

Optional Sections

1. Terrorism Coverage: Additional section when terrorism coverage is specifically required

2. Professional Indemnity Extension: Optional coverage for professional services related to the construction project

3. Extended Maintenance Coverage: Additional coverage for extended maintenance period beyond standard coverage

4. Third Party Liability Extension: Enhanced third party liability coverage beyond standard limits

5. Natural Disaster Coverage: Specific coverage for natural disasters not included in standard coverage

6. Marine Transit Coverage: Coverage for materials and equipment during marine transit

7. Advance Loss of Profits Coverage: Coverage for financial losses due to delayed project completion

8. Cross Liability Clause: Clause treating each insured party as separate entity

Suggested Schedules

1. Schedule A - Project Details: Detailed description of the construction project, location, and scope

2. Schedule B - Sum Insured Breakdown: Detailed breakdown of insurance amounts for different aspects of coverage

3. Schedule C - Premium Calculation: Detailed calculation of premium including all factors and adjustments

4. Schedule D - Covered Property: Itemized list of property covered under the policy

5. Schedule E - Named Insureds: Complete list of all parties covered under the policy

6. Schedule F - Deductibles: Details of all applicable deductibles and excess amounts

7. Appendix 1 - Risk Assessment Report: Detailed assessment of project risks and mitigation measures

8. Appendix 2 - Claims Forms: Standard forms and procedures for making claims

9. Appendix 3 - Safety Requirements: Mandatory safety measures and procedures to maintain coverage

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






































































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Relevant Industries

Construction

Infrastructure Development

Real Estate

Oil and Gas

Energy

Industrial Development

Commercial Development

Transportation

Healthcare Facilities

Educational Facilities

Hospitality

Manufacturing

Relevant Teams

Legal

Risk Management

Insurance

Finance

Operations

Compliance

Construction Management

Project Management

Commercial

Claims

Underwriting

Engineering

Relevant Roles

Risk Manager

Insurance Manager

Project Manager

Construction Manager

Contract Administrator

Chief Financial Officer

Insurance Underwriter

Claims Manager

Compliance Officer

Legal Counsel

Project Director

Site Manager

Operations Director

Finance Director

Insurance Broker

Construction Engineer

Risk Engineer

Commercial Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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