small construction package 2 - axa singapore

construction projects come with its risks

construction

Small Construction Package 2.5

protect against uncer tainties for smooth completion

At AXA, insurance isn’t just about policies. We know you need reliable protection for your small construction projects, and you want adequate protection for your workers. And you need the process to be easy and fast.

We hear you, and the AXA Small Construction Package 2.5 is the ideal all-in-one solution to meet your needs. You no longer need to apply for policies separately. One step is all you need. This means more time for you to focus on your business and projects.

Let us help protect your business. Contact your AXA agent or call us at 1800 880 4888 today .

COVERAGE

A comprehensive construction package providing all risks, third party liability and work injury compensation. This packaged policy is designed to cover construction activities at the project site (except specific exclusions as mentioned in the policy)

Here is how the AXA Small Construction Package 2.5 protects your business:

y Up to S$5m coverage for damages, loss or injuries that may be inflicted upon another party as a result of the actions of your construction works

y Damage to proper ty of a Third Party by vibration, removal or weakening of support

y Provide compensation to your workers and their dependents for personal injury/death by accident arising out of and during the course of employment at the project site. The liability may rise out of the Work Injury Compensation legislation.

y Covers all managers, engineers, supervisors, workers at the worksite

to S$50,000, y Claims on medical leave wages, medical expenses up todeath

All Risks

Third Party

Liability

y Physical loss or accidental damage to the works requiring repair or r einstatement not specifically excluded

y Customise your coverage based on your project needs

Work Injury CompensationS$50,000 lump-sum compensation for permanent

incapacity or death

MEANING OF TERMS

Professional FeesRemoval of DebrisPrincipal’s Existing PropertyWorkmen Injury Compensation – WagesThird Party Liability

: Between 5% and 25% : Between 5% and 25% : Up to S$1 Million: Minimum 20%: S$1 or S$3 or S$5 Million

Professional Fees : This is to cover professional fees for services (but not for the purpose of preparing claims or disputing policy liability) by architects, engineers and surveyors reasonably and necessarily incurred by the insured to restore insured property subject to property damage. Provided always that the Company's maximum liability for such professional fees shall be the amount specified in the Application Form.

Removal of Debris : This is to cover reasonable cost and expense necessarily incurred to support, dismantle demolish or remove debris of insured property subject to property damage and to provide site hoardings or barriers therefore necessary for public safety. Provided always that the Company's maximum liability for such professional fees shall be the amount specified in the Application Form.

Principal's Existing Property : This is to cover the Principal's existing property or property belonging to the or held in care, custody or control by the Insured(s).

For detailed coverage, please refer to the Policy.

RANGE OF COVERAGE OFFERED

Maximum construction period up to 12 months and extended maintenance period up to 12 months

PERIOD OF INSURANCE

More than just a Construction Insurance

BUILD YOUR OWN PLAN

Flexibility to choose your coverage for Third Party Liability limit

Simple proposal form that is easy to complete

Enjoy the benefit of the Contractor All Risks Policy and Workman Injury Compensation Insurance Policy under one combined Policy

Quick and reliable solution to your small construction project needs

TRADES OR A CTIVITIES SUITABLE FOR THIS P ACKAGE


Renovation works Rehabilitation or reinstatement works

Addition and Alteration works Exhibition or staging works

tConstruction of Single House without basemen Pavement work

Small Contract works Small upgrading work from town council and/or HDB

EXCLUDED TRADES OR ACTIVITIES

Works with contract value of more than S$ 2.5 million

Works with contract period of more than 12 months / maintenance period of more than 12

months

Hydraulic engineering, under water works, or wet risk

Civil works such as tunneling, earthworks, road and bridge construction, etc

All piling or structural demolition works, either stand alone or form part of the contract works

Pure scaffolding erection works

Excavation works of more than 1.5 metres in depth

External works exceeding 10 metres in height

Contract works that require to work in or near: power plant, boilers, clean room,

transform-ers, mills, cement plants, steel/metal plant, waste recovery/ recycling plant,

chemical and/or petrochemical plants

This brochure is not a contract of insurance. The specific details applicable to the insurance are set out in the Policy, which is the operative document.

The following table illustrates the premium (excluding GST) at this level of benefits, of Contract WorksProfessional Fees – 5%

Removal of Debris – 5% Principal's Existing Property – Nil

of Contract Works

Estimated Wages – 20% of Contract Works

MINIMUM PREMIUM

ILLUSTRATIVE PREMIUM

*This table is for illustration purposes only. Please use the soft-copy application form to obtain anaccurate quote.

Value of Contract Works

(S$)

Third Party Liability 1 Million

(S$)


(S$)


(S$)100,000 400 500 700500,000 963 996 1,161

1,000,000 1,750 1,761 1,9701,500,000 2,625 2,642 2,9552,000,000 3,500 3,522 3,9402,500,000 4,375 4,403 4,925


(S$)


(S$)


(S$)Minimum Premium 400 500 700

APPLICATION PROCESS

1.

(1)Letter of acceptance/award and/or Works order

(2)Endorsed application form

2.

3.

- For agents, obtain the price and application form from AXA e-Guide

- For all other intermediaries, contact your business development partner for a soft copy of

the application form

- For direct clients contact us at 1800 880 4888

Email to: [email protected] and CC to your business developing partner.

Indicate the subject title as ‘SCP Application’ for priority processing.

Documents required:


https://eguide.axa.com.sg/173/en/AXA-e-Guide

This policy is protected under the Policy Owners’ Protection Scheme which is administer ed by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA or SDIC websites (www .gia.or g.sg or www .sdic.or g.sg).

AXA : A World Leader in Financial Protection

AXA Group in 2015• 92 billion Euros in consolidated revenues• 166,000 employees working to deliver the right solutions and top quality services to our

customers• 103 million customers across the globe in 59 countries have placed their trust in AXA to:

– Insure their proper ty (vehicles, homes, equipment)– Provide health and personal protection coverage for their families or employees– Manage their personal or corporate assets

• Interbrand’s No. 1 global insurance brand for the 8th consecutive year• Over 170 years of local experience in Asia

AXA Insurance Singapore in 2015• Leading General Insurer in Singapore• Business ranking

– No. 2 in Motor , Health, Engineering, Cargo & Work Injur y Compensation Insurance• Wide range of Smart products for individual and business needs• No. 1 for Corporate Reputation (source: Reputation Management Associations)

AC/S

mal

l Con

stru

ctio

n Pa

ckag

e 2.

5 /O

ct 2

016

AXA INSURANCE SINGAPORE PTE LTD8 Shenton W ay, #27-01 AXA T ower Singapor e 068811Customer Car e Depar tment: #B1-01

: 1800-880 4888 (Within Singapore) / (65) 6880 4888 (International) : (65) 6338 2522: www.axa.com.sg

GST Reg. No.: M2-0009922-2Co. Reg. No.: 196900406D

1800-880 4888www.axa.com.sg

motorpropertyleisure & travelhealthcare

personal accidentbusiness packagesliabilitymarine