Engineering Insurance
Engineering insurance may be linked to risks associated with the construction, installation or malfunctioning of property or machinery. Engineering insurance is a type of insurance policy wherein a wide range of risks related to engineering are covered. It is a comprehensive insurance policy that offers economic safeguard against risks faced by ongoing construction projects, installation projects, and machines and equipment in project operation.
Engineering Insurance Services
Contractors All Risks
It protects the contractor or employer against all damage to materials and work for the duration of the contract.
Machinery Breakdown
Covers unforeseen and sudden breakdown or accidental damage to plant. boilers and pressure plant, engine plant etc…
Erection All Risks (EAR)
Covers unforeseen and sudden breakdown or accidental damage to plant.rather than their construction.
Other Engineering Insurance Services
Contractors Plant & Machinery
Contractors Plants and Machinery is a policy that covers the contractor for loss or damage to contract works, contractors’ plant and machinery and material on site that may occur during construction.
Deterioration of Stock insurance Cover
Deterioration of stock insurance is a policy that covers damage to goods stored in specified cold storage spaces, which occurs because of a change in temperature caused by a breakdown of the refrigeration equipment or accidental damage to it.
Boiler & Pressure Vessels Cover
Covers the explosion of a boiler or pressure plant while in the course of ordinary working. It includes damage to third-party property and the death or injury of third parties.
Machinery Loss of Profit
Machinery Loss of Profits insurance provides cover for the actual loss of gross profit sustained as a result of a business interruption caused by an accident indemnifiable under machinery insurance. Machinery Loss of Profits insurance covers:
Advance Loss of Profit/Delay in Start Up
Machinery Loss of Profits insurance provides cover for the actual loss of gross profit sustained as a result of a business interruption caused by an accident indemnifiable under machinery insurance. Machinery Loss of Profits insurance covers:
Electronic Equipment
Electronic Equipment Insurance (EEI) is a policy designed to provide coverage for computers and other electronic equipment and it applies whether the insured items are at work or at rest or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises, or in the course of the aforesaid operations themselves,
or during subsequent re-erection, but in any case only after successful commissioning. The policy can also be extended to cover the external data media such as tapes and disks.
