In case of All Risks Construction, it is necessary:
a) Insured´s Name.
b) Insured´s Line of Business.
c) Amount of the contract to enter.
d) Detailed description of the Works to be done.
e) Geotechnical Report .
f) Design or Construction Drawings.
g) Construction Schedule and Valuation .
h) Constructor´s experience.
g) Loss rate for the last 5 years.
And for these insurance lines:
- Machinery and equipment.
- Machinery Erection.
The basic information is usually the following:
- Insured´s name.
- Line of business.
- Insured´s experience
- Loss rate for the last 5 years.
- Breakdown of insured sums (with details of the machinery characteristics, individual value, manufacturing year, etc.)
- Location where the equipment operates (Machinery and equipment)
- Schedule and Valuation for Machinery Erection and Dismounting (Machinery Erection)