GARGASH INSURANCE SERVICES LLC

1. GARGASH INSURANCE SERVICES LLC ....Delivering Excellence

2. ....Delivering Excellence Certified as Chartered InsuranceBroker Seminar On Contractors All Risk Insurance For Sri Lankan Quantity Surveyors Group - UAE Presented by, Gargash Insurance Services May 28th 2008

3. ....Delivering Excellence Certified as Chartered InsuranceBroker WELCOME TO ALL MEMBERS OF SLQS UAE

4. ....Delivering Excellence Certified as Chartered InsuranceBroker Agenda • What can Gargash do for you ? • CAR Insurance • Other Insurances

5. ....Delivering Excellence Certified as Chartered InsuranceBroker Services • What can Gargash do for you ? • Review the Risk Exposures including Contractual Conditions on Insurance • Suggest suitable insurance program • Preparing quotations • Requesting and obtaining competitive terms from bespoke insurers • Submit to you with recommendations • Place policies • Follow up and check documentation • Provide guidance in preparation of claims documents and represent position with Loss Adjusters, Insurers etc.,in the unfortunate event of a claim. AS YOUR BROKER ABOVE SERVICE COMES FREE OF COST TO YOU Visit our website www.gargashinsurance.com for further information

6. ....Delivering Excellence Certified as Chartered InsuranceBroker WHY INSURE ???

7. ....Delivering Excellence Certified as Chartered InsuranceBroker

8. ....Delivering Excellence Certified as Chartered InsuranceBroker

9. ....Delivering Excellence Certified as Chartered InsuranceBroker

10. ....Delivering Excellence Certified as Chartered InsuranceBroker

11. ....Delivering Excellence Certified as Chartered InsuranceBroker TYPICAL PROJECT STAGES • Identification of Need • Feasibility Study which narrows down • Size of Project • Location • Selection of Design/ Materials • Cost • Profitability • Financing Etc., • Tendering • Award of Contract • Construction • Take over and maintenance

12. ....Delivering Excellence Certified as Chartered InsuranceBroker THE CONTRACT • Legal Document Laying out Responsibilities • Also includes Insurance Stipulation • Standard Forms are generally used including Federation Internationale Des Ingenieurs Conseils (FIDIC) & Joints Contracts Tribunal (JCT)

13. ....Delivering Excellence Certified as Chartered InsuranceBroker Contractual Conditions on Insurance General Conditions of Contract (mainly FIDIC) 4.1 Contractor responsible for acts of Sub-Contractor 20.1 Care of Works – Contractors liable for loss or damage to works (excluding the Expected Risks) before Certificate of Completion is issued. 20.4 Excepted Risks described i.e. Political Risks like War, Nuclear Explosion etc. 21.1 Insurance of Works and Contractors Equipment 22.1 Damage to Persons and Property 23.1 Third Party Insurance – To be insured by Contractor 24.1 Accident & injuries to Workers 25.3 Remedies on Contractors failure to Insure 49.1 } 49.4 } Defects Liability 50-1 }

14. ....Delivering Excellence Certified as Chartered InsuranceBroker Insurance Involvement

15. ....Delivering Excellence Certified as Chartered InsuranceBroker Typical Coverages on Projects

16. ....Delivering Excellence Certified as Chartered InsuranceBroker Principal Consultant Overlap Self Retention Gap in cover Contractor Insured Risk

17. ....Delivering Excellence Certified as Chartered InsuranceBroker Contractors All Risk Insurance (CAR) • Cover for civil engineering exposures • All Risk Cover generally including Third Party Liability • Project specific and Annual policies

18. ....Delivering Excellence Certified as Chartered InsuranceBroker Contractors All Risk Insurance (CAR) Project Specific CAR • Policy arranged for insuring a specific contract/ project Annual Policies • A blanket policy which covers all projects falling within stated parameters during the period of 12 months. Note : It may be possible to get “Run off” cover on projects which have already commenced during the 12 months but are continuing beyond the expiry of the policy.

19. ....Delivering Excellence Certified as Chartered InsuranceBroker Insured Parties • Who Can Be Covered • Principal/ Owner/ Employer/Client • Main Contractor (s) • Sub Contractor (s) • Engineers/Consultants/Architects • Banks • Others having Insurable Interest

20. ....Delivering Excellence Certified as Chartered InsuranceBroker • What Can be Insured • Section I • Contract Works • Plant & Machinery • Principals & Surrounding Property • Section II • Third Party Liability - Accidental Injury /Death - Property Damage • Legal Costs & Expenses incurred

21. ....Delivering Excellence Certified as Chartered InsuranceBroker • Cover • All Risk Cover for sudden and unforeseen events including but not limited to, • Fire, Lightning, Explosion, Aircraft • Flood, inundation, windstorm • Earthquake, Subsidence, Landslide • Collapse, Collision, Impact • Theft, Burglary • Consequence of bad workmanship, negligence • Malicious Acts • Accidental damage during construction

22. ....Delivering Excellence Certified as Chartered InsuranceBroker Main Exclusions • General • Penalties for delay /guarantee of performance • Wilful Act or Gross Negligence • War, Terrorism, Nuclear Weapons etc., • Consequential Losses • Section I • Faulty Design, Material, Workmanship • Cessation of work • Normal Wear & Tear, Corrosion, Gradual deterioration due to atmospheric conditions • Shortages revealed at time of stock taking– Inventory Losses • Damage to Works put into use or for which certificate of completion is issued.

23. ....Delivering Excellence Certified as Chartered InsuranceBroker Main Exclusions (contd..) • Section II • Arising out of employment of a person by Insured (or under Workmen’s Compensation) • Items insurable under Section I • Vibration/ Withdrawal or weakening of support • Liability of vehicles insurable under Motor Insurance

24. ....Delivering Excellence Certified as Chartered InsuranceBroker COVER DURING MAINTENANCE PERIOD LIMITED OR VISITS COVER • Limited to loss or damage caused by the Insured in the course of operations carried out for the purpose of complying with obligations under the maintenance provisions of the contract. EXTENDED COVER • In addition to the above, also includes loss or damage occurring during the maintenance period but caused during the construction period or the construction site.

25. ....Delivering Excellence Certified as Chartered InsuranceBroker

26. ....Delivering Excellence Certified as Chartered InsuranceBroker

27. ....Delivering Excellence Certified as Chartered InsuranceBroker Some of the Extensions available under CAR • Cross liability • Surrounding property including Principal’s property • Professional fees • Debris removal • Expediting expenses • Transit and Offsite Storage and Fabrication • 72 Hours limitation for Act of God Perils • Consequences of Faulty Design, materials, workmanship • Cover for vibration and weakening of support • Extended Maintenance Clause including Third Party Liability • Strike Riots & Civil Commotion • Underground Services

28. ....Delivering Excellence Certified as Chartered InsuranceBroker Cross Liability • Generally various parties like Principal, Contractors & Sub Contractors, all covered under the same policy. • These parties cannot be considered as Third Parties to each other • Any claim against each other not covered If a Cross Liability extension is endorsed on the policy each insured party is considered as separate entities and will be treated as if separate policy has been issued to each. This extension excludes damage to property who can be covered under Section I

29. ....Delivering Excellence Certified as Chartered InsuranceBroker Sum Insured Estimated Contract Value should take into account Section I • Materials • Freight • Customs Duty • Cost of Construction • Value of construction • Use of Machine • Labour • Temporary Works • Principal’s supplied materials • Reasonable cost escalations

30. ....Delivering Excellence Certified as Chartered InsuranceBroker

31. ....Delivering Excellence Certified as Chartered InsuranceBroker Section II • This should be the maximum possible liability and should take into account apart from the contractual requirements. • Proximity & value of neighboring properties • Number of persons in vicinity • Nature of site activities • The minimum should be as per Contractual requirement. However, it MAY BE NOTED THAT INDEMNITY MAY BE MUCH HIGHER

32. ....Delivering Excellence Certified as Chartered InsuranceBroker Assessment of Risk (and Premium) Based on • Type of project • Subsoil/ AOG Perils Exposures • Construction Techniques • Design Features • Period /Time schedule (Exposures Periods) • Value at Risk • Infrastructure • Past record of contractors • Parties insured

33. ....Delivering Excellence Certified as Chartered InsuranceBroker Typical Assessment of Risk Exposure

34. ....Delivering Excellence Certified as Chartered InsuranceBroker MORE REASONS ON WHY TO INSURE ….

35. ....Delivering Excellence Certified as Chartered InsuranceBroker

36. ....Delivering Excellence Certified as Chartered InsuranceBroker

37. ....Delivering Excellence Certified as Chartered InsuranceBroker

38. ....Delivering Excellence Certified as Chartered InsuranceBroker

39. ....Delivering Excellence Certified as Chartered InsuranceBroker ?

40. ....Delivering Excellence Certified as Chartered InsuranceBroker Policies to be discussed • Motor Comprehensive Insurance • Professional Indemnity insurance • Group Life Insurance for members • Home Insurance • Travel Insurance

41. ....Delivering Excellence Certified as Chartered InsuranceBroker Motor Comprehensive Insurance • Cover features • Unlimited legal liability – 3rd Party Bodily Injury • Third Party Property damage limit is AED 2,500,000 • Geographic limits -UAE and Oman • Family members and passengers are covered as a ‘third party’. • Insured and spouse personal injury cover up to AED 10,000 • Agency repairs • automatically for the first 2 years of registration • Up to 5 years subject to claims experience and additional premium • No excess payable for windscreen damage up to AED 2,000

42. ....Delivering Excellence Certified as Chartered InsuranceBroker Motor Comprehensive Insurance cont.. • Cover features • Hire Car (Maximum period of 7 days per accident.) (additional premium of AED 150/- for 12 months). • Personal Accident Benefit - limit Dhs.150,000/ per person. Premium for Driver Dhs.120/-, Passengers Dhs. 30/- each • Cover for Riot, Strike, Civil commotion, Flood, storm, typhoon, cyclone or other convulsions of nature • Third party liability cover for Insured whilst driving any other private motor car. Terms and conditions of the policy applies. • Replacement of locks • Emergency medical expenses up to AED 2,750 per person • 13th Month is free if the vehicle is brand new ‘0’ kms.

43. ....Delivering Excellence Certified as Chartered InsuranceBroker Motor Comprehensive Insurance cont.. • Cover features • Personal belongings cover up to AED 2,000 • 24 hour accident / breakdown recovery ( @ AED 25 additional / mandatory cover) • Motor trade and valet parking: whilst in the custody of (1) A garage or similar business (2) A hotel, restaurant or similar business • New car replacement: Insurers will pay for a brand new replacement model if: Your vehicle is written off/total loss in the first 6 months (only applies for brand new) • Off road cover (4WD) : no cover whilst participating in a competitive event or race.

44. ....Delivering Excellence Certified as Chartered InsuranceBroker CRITERIA INSURED : An active/ valid member of SLQS VEHICLES : Vehicles less than 7 years old from the date of first registration as new (other than excluded vehicles like sports, coupe, high performance vehicles AGE : Insured/ Main driver above 25 years of age LICENCE : At least one year valid U.A.E. license. If UAE license is new, three years driving experience in Home country is acceptable. CLAIMS : Favourable claims record.

45. ....Delivering Excellence Certified as Chartered InsuranceBroker • Professional Indemnity Insurance Do you have to be in Jail for doing your duties? Cover: A Professional Indemnity Policy will provide indemnity against legal liability for negligent acts, errors, breach of duty or omission arising out of course of professional activities. Costs and expenses for legal proceedings incurred are also covered. Type of Policies : Annual, Project basis Individual Policy or Insurance for Company as a whole

46. ....Delivering Excellence Certified as Chartered InsuranceBroker • Group Life Insurance Why Leave your Loved ones in dark in your absence? • BENEFITS COVERED: • Death By Any Cause, • Permanent Total Disablement (Accident) • Permanent Partial Disability (Accident) • Passive War Cover • Sum Insured: To be agreed • Premium : as low as Dhs. 20* per month per AED 100,000 • * Premium changes as per the age of the member

47. ....Delivering Excellence Certified as Chartered InsuranceBroker Home Insurance Home away from Home. Have you taken care of it? • What is covered? • The Property • Contents in your home • Personal belongings • Plus additional benefits • Tenants liability • Legal liability • Alternative accommodation • New for old cover • Unexpected events and natural calamities • Cover while you're away • Theft of keys • Frozen food • Contents in the open • Household removals • Optional coverage • Domestic helpers • Cover against loss of important documents • Cover against loss of money and credit cards • Accidental damage

48. ....Delivering Excellence Certified as Chartered InsuranceBroker Premium Rating • Contents - Covers items within your home. • Min premium – AED 250, Rate 0.4% • Personal • Belongings – Covers items worldwide. • Min premium – AED 250, Rate 1.4% • Buildings – Insured at replacement value to protect against natural calamities and perils. • Min Premium – AED 500, Rate 0.5% (except reclaimed land 0.1%) • Domestic Help – Cover against Death or Permanent Disablement, Accidental • Medical, Repatriation. • Premium – AED 150 • * The above rate are indicative, can confirm only after reviewing the proposal

49. ....Delivering Excellence Certified as Chartered InsuranceBroker Travel Insurance Travel with no worries… • Cover : • Personal Accident Cover • Emergency Medical & Transportation • Baggage & Money • Personal Liability Cover • Repatriation of Mortal remains • Premature return following death of Close relatives • Cancellation & Curtailment • Type of covers • Individual Covers • Annual

50. ....Delivering Excellence Certified as Chartered InsuranceBroker • Special Services from Gargash Insurance Services CLICK, PAY & GET IT DELIVERED • On Line Payment Facility through the web site of Gargash Insurance (no additional charges). No parking tensions, No traffic jams ! • Free Delivery of policy documents • Free claims assistance services • Renewal reminders • Kindly visit our website www.gargashinsurance.comfor more information. • P.O. Box :33140, Sharjah.  • Mobile: 050-2960508 • Ph : 06-5754848 Fax : 06-5754847 • e-mail : r . s u r e s h @ g a r g a s h i n s u r a n c e . c o m