Storage Cum Erection Policy
A developing country like India has to embark upon setting up of different industries to attain self-sufficiency. Now a days many projects involving crores of rupees are being implemented throughout the country. The policy is suitable for covering the risks involved in storage, assembly, erection and testing of all kinds of machines required for continuing manufacturing activities.
Following rapid industrialization, this form of insurance gained greater importance and has become indispensable factor for protecting financial interest of entrepreneurs as well as the financial institutions.
In most contract for erection jobs, EAR insurance is specified as one of the prerequisite conditions.