Contract Works All Risks (Insurance) Template for New Zealand

1. Terrorism Coverage: Optional extension for terrorism-related risks, used when specifically requested

2. Natural Disaster Extension: Additional coverage for specific natural disasters, relevant in high-risk areas

3. Professional Fees Coverage: Coverage for professional fees incurred in reinstating damaged property, used for larger projects

4. Existing Structures Coverage: Coverage for existing structures during renovation or extension works

5. Transit Coverage: Coverage for materials during transit to construction site, used when significant materials transportation is involved

6. Delayed Start-up Coverage: Coverage for financial losses due to delayed project completion, relevant for time-sensitive projects

7. Third Party Liability Extension: Additional liability coverage beyond standard provisions, used when enhanced liability protection is needed

8. Defective Design Coverage: Extended coverage for losses arising from design defects, used for design-build projects

1. Schedule 1: Project Details: Specific details of the construction project including location, nature of works, and contract value

2. Schedule 2: Premium Schedule: Details of premium calculations, payment terms, and any adjustments

3. Schedule 3: Insured Property: Detailed listing of property covered under the policy

4. Schedule 4: Sub-limits and Deductibles: Breakdown of coverage sub-limits and applicable deductibles for different types of claims

5. Schedule 5: Named Insureds: Complete list of all parties covered under the policy including contractors and subcontractors

6. Appendix A: Risk Management Requirements: Specific risk management and safety measures required by the insurer

7. Appendix B: Claims Procedures: Detailed procedures and forms for claims submission and processing

8. Appendix C: Technical Specifications: Technical details of construction methods and materials relevant to the insurance coverage