ENGINEERING AND CONTRACTORS ALL RISKS REINSURANCE
The world is rapidly growing with new and special types of construction projects coming up, name them: from Road construction to special bridges, to unique structures. First Re develops new Engineering and CAR treaties, placing them with highly rated and experienced reinsurers.
In our Engineering and CAR section, the underwriters accurately analyze and design treaties, capturing all risks expected in the Engineering department. In a normal circumstance, it is expected that the Engineering and CAR department will expect to underwrite risks of the following nature:
- Engineering Machinery Breakdown
- Boiler and Pressure Vessel
- Erection All Risk
- Contractors All Risk
- Contractors Plant and Equipment
- Electronic Equipment
- Deterioration of Stock following Machinery Breakdown
- Loss of Profits resulting from Machinery Breakdown
- Third Party Liability written in conjunction with Erection and Contractors All Risks.
We design both proportional and non-proportional property treaties:
- CAR and Engineering Surplus
- CAR and Engineering Excess of Loss
- CAR and Engineering Catastrophe Excess of Loss
First Re will also provide facultative reinsurance support for all risks that are above the reinsured’s capacity.
We also ensure that renewal of your Engineering and CAR treaties are given special attention. First Re will analyze and discuss any improvements to your treaty to ensure that the following year has a better arrangement to suit the oncoming expectations.