Even if the Contractor already has an annual Contractors All Risks policy, a one-off single project policy may be required in certain circumstances. Reasons for this include if the contract is too large to fit under the annual policy, a special purpose vehicle company has been set up for the project, or the JCT contract conditions may stipulate the need for a single project policy or have contract conditions that their current policy cannot accommodate (e.g joint insured with the employer, non-vitiation, etc.).