It is property insurance by which any building or civil engineering project under construction is protected against accidents resulting in physical damage to or the destruction of works in progress, materials on site or other similar items on site.
It covers both the temporary and permanent works, tools equipment and construction machinery used for the contract.

It is an all risks cover against unforeseen and sudden physical loss or damage from any cause whatsoever except those specifically excluded.
There is also a Third Party Liability cover up to and not exceeding the amount specified for which the insured shall be legally liable consequent on: -

• Accidental bodily injury or death to third parties.
• Damage to property belonging to third parties.