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Almaseer is a leading general  insurer based  in Baghdad with particular expertise in insuring industrial and commercial risks. We understand the complexities involved in putting together a policy portfolio, especially for those businesses with an international connection. Our Staff, Systems and External Consultants are all experienced in & operating with International Standards, the Iraqi Diwan. Lloyds of London and the Global insurance market and businesses.

This website is designed to guide you through the insurance sectors we insure and offer the information and answers to questions we believe you need to know to be able to make  an informed choice about the risks to insure.

If you wish to discuss any matter please contact us at +964 770 055 5624 to get a response on any immediate needs you may have. Learn more about us please click here.

Why Choose Almaseer Insurance?

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Iraqi Businesses

Almaseer Insurance is a leading Insurer based in Baghdad & regulated by the Diwan

International Businesses

Almaseer understands the complexities of the Iraqi Financial & Regulatory systems

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Information to help you plan, prepare and protect what matters most.

Insurance Sectors

Energy

Construction & CPM

Liability

PA Travel

Commercial Property

Transportation

Private Medical & Health

Research & Development

in today's world, you can't afford to be without insurance

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Regulated by the Iraqi DIwan under licence  28 -2-12 renewed without break from 2012. Our financial and regulatory standards are also designed to match international standards. We are chosen by and do business with some of the worlds largest companies, working with Regional, London, European, Far East and Lloyds, Insurance and Reinsurance Markets

© 2024, Almaseer Insurance. Developed by GTonics

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© 2022, Almaseer Insurance. Developed by GTonics

Almaseer Insurance strives to provide the most effective insurance policies which will be based on information provided by you. We ask for a  great deal of information to help us calculate and offer our best terms but even with this we cannot guarantee that we can provide cover.  We do not offer advice and the final decision about which cover to accept when an offer has been made is yours.  You cannot assume  cover has been effected by us until we confirm in writing that we are on risk and this can only happen once premium payment and your formal instructions  have been provided

No.   Asset Code Vehicle Name Type Plate Number Chassis Number Quantity Value                                    

Construction All Risks (CAR) and Erection All Risks (EAR) cover provides the contractor and/or Principal protection for physical loss or damage occurring at the construction site caused by the perils covered within the Policy.  the key difference between the two is

The table below sums up the key differences:

Principal Controlled Basis

Principal Controlled Insurance is designed for large development and construction projects with heavy financial requirements or where the Principal wishes to control the cost and extent of coverage provided.

Unlike traditional Project Insurance which insures the contractor and consultants, this type of insurance program insures the Principal as the insured and is extended to include Contractors & subcontractors with other professionals being added if required.

Traditionally, Principals have made it a contractual requirement for contractors and consultants to arrange and pay for the cover for the construction contract.  The contractor will then build the price of the cover into the contract price.

However, by relying on contractors and sub contractors to place their own cover, this arrangement can cause significant problems for Principals, such as:

Therefore, getting Principal Controlled Insurance gives the Principal full control over their insurance program and the costs involved with the cover.

Primary Cover

Primary Cover – the policy that responds first to an insured loss, either on a first dollar basis or after allowing for a deductible. When the primary coverage limits are paid, any remaining loss is covered by whatever excess layer of insurance may be in place.

Excess Cover

Excess Cover – An insurance policy which sits above and over a Primary cover so extending the limit of cover. It only comes into operation after the Primary Policy limits have been exhausted.

An Indemnity is a sum of money paid as compensation, in the case of a Insurance policy covering an Insureds Liabilities to third parties, it is the compensation that is payable to a third party where the Insured has been found legally liable for damage, personal injury or death to the third party by their negligent action.

Contractor arranged basis

Often under the contract between the Principal and the Main Contractor there will be a stipulation for the Contractor to arrange the Insurance coverage required to cover the Project / Works.

The contract will normally make it clear as to what cover is required regarding Wording, Perils, Limits Deductibles and who is to be covered (all subcontractors of the main contractor, consultants and sometimes key suppliers) and this will often need to be signed off by the Principal before the Contractor is allowed on site to start work.

The contract will often stipulate a number of additional cover clauses or extensions that will be required to be added to the contract to protect the interests of the Principal and often any financier of the project