IRDAI Surveyor Engineering (S-05) Practice Questions - IRDAI Surveyor & Loss Assessor Exam - Engineering (III S-05 IC-77) Exam

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Under a Contractors All Risks (CAR) policy, if construction work is completed in phases, when does the coverage for a specific phase normally terminate?

Upon completion of the entire project specified in the policy schedule Upon handover to or taking over by the Principal, or when put into service, whichever is earlier Exactly at the expiry of the construction period stated in the schedule, regardless of usage Exactly 30 days after physical construction of that phase ceases

Correct Answer:

Upon handover to or taking over by the Principal, or when put into service, whichever is earlier

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