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🏗️ '''Construction all-risks insurance''' is an alternative rendering of the same product commonly abbreviated as [[Definition:Construction all risks insurance (CAR) | CAR insurance]] — a comprehensive [[Definition:Property insurance | property]] policy that protects construction projects against physical loss or damage from any cause not specifically excluded. The hyphenated form "all-risks" and the unhyphenated "all risks" are both used interchangeably across insurance markets globally, with no substantive difference in coverage or legal interpretation. Whether encountered in policy wordings issued in the London market, in [[Definition:Reinsurance | reinsurance]] treaty schedules, or in Asian and Middle Eastern [[Definition:Engineering insurance | engineering insurance]] placements, the product provides the same broad protection for contract works, materials, third-party liabilities, and associated project exposures.

📋 The coverage structure mirrors that of a standard CAR policy: Section I typically addresses physical damage to the works under construction, while Section II responds to [[Definition:Third-party liability insurance | third-party liability]] claims arising from the project. Extensions for existing property, construction plant, and financial loss from project delays (such as [[Definition:Delay in start-up insurance (DSU) | delay in start-up]]) are commonly available. [[Definition:Underwriter | Underwriters]] evaluate the nature of the construction, geographic perils, contractor capability, and project management quality when pricing and structuring the policy. The "all-risks" formulation is significant because it places the burden on the insurer to prove that an exclusion applies, rather than requiring the insured to demonstrate that a loss falls within a listed peril — a distinction that affects [[Definition:Claims | claims]] outcomes and has been tested in courts across multiple jurisdictions.

⚖️ From a market perspective, the widespread availability of construction all-risks insurance enables the global construction and infrastructure sectors to transfer project risk efficiently. Major [[Definition:Insurance broker | broking]] houses place these programs across international markets, often structuring layered programs involving multiple [[Definition:Insurance carrier | insurers]] and reinsurers to accommodate the large values at risk on mega-projects such as airports, bridges, and energy installations. As the terminology "all-risks" gradually gives way to "all perils" or "open perils" in some modern policy forms — reflecting a broader industry trend away from potentially misleading labels — the underlying coverage philosophy remains unchanged: broad protection, subject to clearly defined exclusions.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Construction all risks insurance (CAR)]]
* [[Definition:Builders risk insurance]]
* [[Definition:Engineering insurance]]
* [[Definition:Project insurance]]
* [[Definition:All-risks coverage]]
* [[Definition:Erection all risks insurance (EAR)]]
{{Div col end}}

Definition:Construction all-risks insurance - Revision history

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