Contractors All Risks Proposal

Please read the following statement carefully.

We, the insured, shall apply the following security practice whilst Insured Property is left unattended overnight or at weekends:

a) wheeled self-propelled or tracked items of Insured Property are to be
  i. immobilised by the application and setting of a recognised physical security restraining mechanism leg lock or installed points of access OR
  ii. secured within a locked building compound or yard incorporating enclosed perimeter walls or fencing and padlocked points of access

b) non-driven and non-propelled items of powered or mechanical Insured Property are to be secured within a locked building compound or yard incorporating enclosed perimeter walls or fencing and locked points of access

c) machine attachments power tools hand tools manually powered implements and other unpowered items of Insured Property shall be retained
  i. within a locked building or;
  ii. within a locked container or receptacle which must be retained within a secure or attended garage or yard
  iii. within a locked and alarmed vehicle which must be situated within a secure or attended garage or yard

Every insured has a duty to give a fair presentation of the risk to an insurer based on their reasonable understanding of the risks to their business. This is one which clearly discloses all material facts which their senior management and the persons responsible for arranging their insurance know, or ought to know, following a reasonable search of information available to them. It should include all facts that would influence the judgement of the insurer or that would put the insurer on notice that it needs to make further enquiries.

A material circumstance is defined as:

• Special or unusual circumstances relating to the risk;
• Any particular concerns which led them to seek insurance cover for the risk; and
• Anything which those concerned with the class of insurance and field of activity in question would generally understand as being something that would be dealt with in a fair presentation of risks for this type of insurance.

Please ensure that your client is aware that if they fail to disclose information, misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, or fail to make a fair presentation to an insurer, this could invalidate the policy and mean that claims may not be paid in full.