Insurance

Question 1

What is JCT Insurance Option A

Answer 1

New Buildings - All Risk Insurance of the Works by the Contractor

Question 2

What is JCT Insurance Option B

Answer 2

New Buildings - All Risk Insurance of the Works by the Client

Question 3

What is JCT Insurance Option C

Answer 3

Joint Names Insurance by the Employer of Existing Structures and Works in or Extensions to them

Question 4

What does ‘Contractor’s All Risk’ Cover?

Answer 4

Anything that isn’t excluded

Question 5

What additionally is required to be covered for under Option C?

Answer 5

Specified Perils

Question 6

What are typical exclusions of CAR?

Answer 6

Terrorism
Specified Perils
Defects
Pollution

Question 7

What are Specified Perils?

Answer 7

Fire, Lightning, Floods, Riots etc (list shown under JCT clause)

Question 8

What is a C.1 Replacement schedule

Answer 8

Where the Employer can’t secure joint names and a custom policy is needed
e.g. the Client is a Tenant in a building so it would need to be the Landlord’s insurance

Question 9

Whats the difference between liability and indemnity?

Answer 9

Indemnity protects one party from loss caused by another
Liability protects a party when they are responsible for damages caused

Question 10

Which insurance option is joint names

Answer 10

All of them