This should be dealt with as an insurance matter, refer to the third insurance in the Insurance Table, the relevant words being "... loss of or damage to property ...".
The exclusion "except the subcontract works, Plant and Materials and Equipment" refers to things supplied or done by the Subcontractor which are covered by the first insurance in the Insurance Table. The exclusion does not apply to the Contractor's works, Plant and Materials and Equipment all of which can be classed as property.
The exclusion "except the subcontract works, Plant and Materials and Equipment" refers to things supplied or done by the Subcontractor which are covered by the first insurance in the Insurance Table. The exclusion does not apply to the Contractor's works, Plant and Materials and Equipment all of which can be classed as property.