Contractors' All Risks Insurance


This insurance plan provides comprehensive protections to construction companies and, as well as principals engaging the services of a construction company. All scales of contracted works are applicable, from large-scale construction projects like high-rise buildings and highways to small-scale jobs such as household or shop renovations.

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Product Highlights

Protections for Finished Works, Raw Materials and Third Party Liability

Contractors' All Risks Insurance has two sections:

  • The first section covers accidental damage to the contracted projects, including finished works and works-in-progress, and the raw materials for those projects. If the works sustain accidental damage caused by fire, flooding, etc., the insurance company will provide compensation to the client.
  • The second section protects the construction company and the principal's legal liability against death or bodily injury or property damage to a third party due to negligence while performing the contracted work.



  1. The general insurance product is underwritten by Paofoong Insurance Company (Hong Kong) Limited ("Paofoong Insurance"). Paofoong Insurance is authorized and regulated by the Insurance Authority to carry on general insurance business in Hong Kong Special Administrative Region.
  2. Shanghai Commercial Bank Limited ("The Bank") is the Appointed Insurance Agency (Insurance Agency License Number FA3130) of Paofoong Insurance, and the general insurance product is a product of Paofoong Insurance but not the Bank. Profoong Insurance reserves the right to decide at its sole discretion to accept or decline any application of the general insurance plan.
  3. Paofoong Insurance is a subsidiary of the Bank.
  4. The Bank and Paofoong Insurance reserve the right to amend or terminate the terms and conditions for the relevant premium discount without prior notice to customers. In case of any disputes, the decision of the Bank and Paofoong Insurance shall be final.
  5. The above information is for reference only and is intended to be distributed in Hong Kong only, it shall not be construed as an offer to sell or a solicitation of an offer or recommendation to purchase or sale or provision of any products of Paofoong Insurance outside Hong Kong and will not constitute any part of the insurance policy document. Please refer to the policy document and provision issued by Paofoong Insurance for detailed terms and conditions, scope of coverage, exclusions and premium of this insurance plan.
  6. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) between the Bank and the customer arising out of the selling process or processing of the related transaction, the Bank will enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the product shall be resolved directly between the customer and Paofoong Insurance.
  7. In case of any discrepancy between the English and Chinese versions of the above information, the English version shall prevail.
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