ABSTRACT
The insurance must be taken out by the contractor in joint names with insurers approved by the employer, with whom policy and premium receipts must be deposited. Insurance of the Works falls into two categories: new works and work to existing structures. The type of insurance to be taken out is 'all risks'. Not only the Works, but the value of any unxed materials or goods delivered to the site must be insured including a percentage stated in the Appendix to cover professional fees. The insurance must be taken out in joint names with insurers approved by the employer with whom policy and premiums must be deposited. If there is any element of under-insurance or any excess payable on the insurance, this is the responsibility of the party who has the obligation to insure. Insurance of the contractor's plant and tools is not provided for under either contract and it is the contractor's liability.
