CPI – Comprehensive Project Insurance

On the basis of a combined contractors’ all risks and erection all risks insurance, the CP insurance policy provides comprehensive and risk-commensurate insurance protection for all projects involving the construction and erection of buildings, machine installations, plants, and steel structures throughout the project phase.

The scope of cover is of very broad design modelled on the CAR and EAR insurance policies customary in international insurance markets. With the exception of a few standard exclusions, the cover embraces just about every sudden and unforeseen case of material damage to insured construction and erection objects during the agreed construction, erection, testing, and maintenance periods on the construction site. Supplementary endorsements can be applied to adjust the scope of cover to meet individual requirements.

In order to do justice to the concept of a comprehensive project-related insurance, the CP insurance policy can also be extended to include a construction machinery insurance and a third party liability cover for bodily injury or material damage to third parties. Furthermore, the CP insurance policy can also be supplemented with delay in start-up cover and marine insurance on the basis of the Institute Marine Cargo Clauses customary in the international marine market.

MRe CPI Comprehensive Project Insurance Policy and Clauses

• IMIA WGP 088 (14) Holistic Covers
• Description of Comprehensive Project insurance CPI
• CPI Policy
• 1270 Flue gas purification plants
• 1269 Marine 50:50 loss sharing
• 1268 Erection of storage tanks
• 1267 Serial losses
• 1266 Directional drilling
• 1265 Loss prevention in respect of flood and inundation
• 1264 Open trenches, pipes, cables and ducts
• 1263 Fire protection
• 1262 Underground services
• 1261 Structures in earthquake zones
• 1260 Contract time schedule
• 1250 Exclusion during the defects liability period
• 1249 Betterment
• 1248 Section lengths
• 1247 Limited cover during the defects liability period
• 1246 Hydrocarbon processing industries 2
• 1245 Hydrocarbon processing industries 1
• 1244 Marine and off-shore work
• 1243 Normal action of the sea
• 1242 Tunnels, galleries and underground structures
• 1241 Defective part only exclusion
• 1240 Outright faulty design exclusion
• 1239 Outright defects exclusion
• 1238 Piling, foundation and retaining wall construction work
• 1237 Drilling rigs and equipment
• 1236 Directional drilling
• 1235 Removal of debris
• 1234 Dams and water reservoirs
• 1233 Crops, forests and cultures
• 1232 Windstorm
• 1231 Flood or inundation
• 1230 Earthquake
• 1210 Delay in start-up following marine cargo
• 1209 Oil, gas and:or geothermal drilling rigs and equipment
• 1208 Costs for leak search
• 1207 Reactor pressure vessels with internals
• 1204 Guarantee maintenance 1205 Nuclear fuel elements 1206 Costs of decontamination
• 1203 Liability consequent upon vibration, removal or weakening of support
• 1202 Property insured taken into use or operation
• 1201 Extra costs for airfreight
• 1200 Strike, riot and civil commotion

Original Sources : Munich Re, IMIA