Contract Works Insurance agreements are essential risk management tools in the Saudi Arabian construction sector, providing crucial protection for construction projects against various risks and potential losses. This document type, specifically designed as a Contract Works (Insurance) agreement, must comply with both Saudi Arabian insurance regulations and Sharia law principles, operating under the supervision of the Saudi Central Bank (SAMA). It typically covers physical loss or damage to construction works, materials, and equipment during the construction period, including testing and commissioning phases. The agreement is particularly relevant for large-scale construction projects, infrastructure developments, and commercial constructions where comprehensive risk protection is essential. It includes specific provisions for the Saudi market, such as Takaful principles, local regulatory requirements, and standard construction practices in the region.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of the insurer (Takaful operator), insured party (contractor), and any other relevant parties such as the project owner
2. Background: Context of the insurance requirement, including project overview and basis for the insurance arrangement
3. Definitions: Detailed definitions of key terms used throughout the policy, including technical construction terms and insurance concepts
4. Scope of Coverage: Detailed description of what is covered under the policy, including works, materials, and temporary structures
5. Sum Insured: Specification of insurance amounts, including contract value, materials, and additional costs
6. Premium and Payment Terms: Details of premium calculation, payment schedule, and consequences of non-payment
7. Duration of Coverage: Policy period, including construction phase, testing period, and maintenance period
8. Exclusions: Clear listing of situations and items not covered by the insurance
9. Claims Procedure: Step-by-step process for making claims, including notification requirements and documentation
10. Obligations of the Insured: Duties of the insured regarding risk management, safety measures, and notification requirements
11. Termination Provisions: Circumstances under which the policy can be terminated and the consequences
12. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution procedures
13. General Conditions: Standard policy conditions including compliance with Sharia principles
1. Extension of Coverage: Additional coverage options that may be included based on project specifics, such as third-party liability or professional indemnity
2. Cross Liability: Section needed when multiple parties need to be covered as separate entities
3. Advance Loss of Profits: Optional coverage for delayed start-up losses, typically required for large commercial projects
4. Terrorism Coverage: Additional section when terrorism risk coverage is specifically requested
5. Environmental Protection: Special provisions for projects with significant environmental risks
6. Testing and Commissioning: Detailed provisions for projects requiring extensive testing phase coverage
7. Defective Design Coverage: Extended coverage for design defects, typically for design-build projects
1. Schedule A - Project Details: Detailed description of the construction project, including location, scope, and timeline
2. Schedule B - Sum Insured Breakdown: Detailed breakdown of insurance values for different aspects of the works
3. Schedule C - Premium Calculation: Detailed calculation of premium including any adjustments and payment schedule
4. Schedule D - Excluded Properties/Activities: Specific list of exclusions applicable to the project
5. Schedule E - Security Measures: Required safety and security measures for the project site
6. Schedule F - Claims Documentation Requirements: List of required documents and procedures for claims processing
7. Appendix 1 - Risk Management Plan: Detailed risk management procedures and requirements
8. Appendix 2 - Emergency Response Procedures: Procedures to be followed in case of emergencies
9. Appendix 3 - Subcontractor Requirements: Insurance and compliance requirements for subcontractors
Find the exact document you need
Agreement Of (Insurance)
A Shariah-compliant insurance agreement (Takaful) governed by Saudi Arabian law, establishing insurance coverage terms and conditions under SAMA regulations.
Download
Contractor All Risk (Insurance)
A Saudi Arabian-compliant insurance policy providing comprehensive risk coverage for contractors in construction projects, combining material damage and third-party liability protection.
Download
Contract Works (Insurance)
Saudi Arabian Contract Works Insurance agreement providing comprehensive construction project coverage under Saudi law and Sharia principles.
Download
Contractual Liability (Insurance)
A Saudi Arabian law-governed insurance policy covering contractual liability risks, structured in compliance with SAMA regulations and Shariah principles.
Download
Contract Of Marine (Insurance)
A Sharia-compliant marine insurance contract under Saudi Arabian law, detailing marine risk coverage, terms, and claims procedures for maritime operations.
Download
Service Contract Liability (Insurance)
A Sharia-compliant Service Contract Liability Insurance agreement for use in Saudi Arabia, providing coverage for service providers' contractual liabilities.
Download
Life Insurance Indemnity Contract
A Shariah-compliant life insurance contract under Saudi Arabian law providing financial protection through a cooperative insurance model.
Download
Insurance Broker Contract
A Saudi Arabian law-governed agreement establishing the terms and conditions between an insurance broker and client, ensuring SAMA regulatory compliance.
Download
Hold Harmless Agreement (Insurance)
A Saudi Arabian law-governed agreement establishing indemnification and hold harmless provisions between parties, compliant with local insurance regulations and Sharia principles.
Download
Buy Sell Agreement (Insurance)
A Saudi Arabian law-governed agreement establishing insurance-funded purchase arrangements for business interests, compliant with both commercial and Shariah law requirements.
Download
Binder Agreement (Insurance)
A Saudi Arabian law-governed agreement delegating insurance underwriting authority from an insurer to a coverholder, ensuring compliance with SAMA regulations and Sharia principles.
Download
Agency Agreement (Insurance)
A Saudi Arabian law-governed agreement establishing the terms and conditions between an insurance company and its appointed agent, ensuring regulatory and Sharia compliance.
Download
Insurance Introducer Agreement
Saudi Arabian law-governed agreement establishing terms for insurance client introductions, ensuring SAMA and Sharia compliance.
Download
Public Adjuster Contract
A Saudi Arabian law-governed agreement between a public adjuster and client for professional insurance claim adjustment services, compliant with SAMA regulations and Shariah law.
Download
Title Insurance Indemnity Agreement
A Saudi Arabian law-governed agreement establishing title insurance indemnification terms, compliant with both civil law and Shariah principles.
Download
Fine Print Renters Insurance Agreement
A Sharia-compliant renters insurance agreement governed by Saudi Arabian law, protecting tenants' personal property and liability in rental properties.
Download
Subcontractor Insurance Agreement
A Saudi Arabian law-governed agreement establishing insurance requirements and obligations between principal contractors and subcontractors, ensuring regulatory compliance and risk protection.
Download
Insurance Letter Of Agreement
A Saudi Arabian law-governed agreement establishing insurance terms and conditions between insurer and insured, compliant with SAMA regulations and Shariah principles.
Download
Health Insurance Agreement
A Saudi Arabian law-compliant agreement establishing health insurance terms between insurer and policyholder, meeting CCHI regulations and Shariah principles.
Download
Insurance Indemnity Contract
A Saudi Arabian law-governed insurance contract establishing indemnity coverage terms between insurer and insured, compliant with SAMA regulations and Shariah principles.
Download
Subrogation Contract
A Saudi Arabian law-compliant agreement transferring rights from an insured party to their insurer following claim settlement, structured to meet both civil and Shariah law requirements.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)