Engineering Insurance

In modern society many entities own or operate costly plant and machinery. Infra-structure like roads, dams, power generation and transmission facilities, mineral extraction and processing, Water treatment plants and the many others are required for prosperity. There are risks of loss or damage associated with this area, for which the corporation has policies available, or can be arranged to suit specific circumstances.

Available policies are as follows:

• Electronic Equipment Insurance:
  The term ‘electronic equipment' comprises, in the context of this insurance, all electrical and electronic systems. The insurance protects the owner as the operator, the lesser, or the maintainer, as well as the hirer. Electronic equipment insurance is an ‘accident’ insurance on an all risks basis covering sudden and unforeseen losses which physically affect the subject matter insured. Cover is provided on a first loss basis both for the material value of the external data media used in computing facilities and costs of reprocessing the restoring lost information. If in the event of a breakdown, replacement computing capacity is hired, then the increased cost of working insurance applies. It covers such expenses as hire charges, transport charges for data media and personnel, expenses for accommodation away from base, night work or public holidays and the like.
• Machinery Breakdown Insurance:
  Machinery breakdown insurance covers any damage whether the equipment is at work or at the rest and also when it is dismantled for the purposes of inspection, overhauling or shifting to another position. Further, damage to electrical machinery, due to the originating within itself (which is excluded in fire policies) is covered under this policy.
• Contractors All Risks (CAR) Insurance:
  This policy offers comprehensive protection in respect of contract works for loss or damage to construction plant and equipment and/or machinery, as well as for third-party claims in respect of property damaged or bodily injury arising in connection with the execution of a building project. CAR insurance provides an all risk cover. Every hazard is covered which is not specifically excluded. This means that almost any sudden and unforeseen loss or damage occurring to the property insured on site is covered.
• Erection All Risks (EAR) Insurance:
  This branch of engineering insurance offers comprehensive protection against all the risks involved in the erection of machinery, plant and steel structures of any kind, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of an erection project. EAR insurance provides a very wide cover. Almost any sudden and unforeseen loss or damage occurring to the property insured on the erection site is covered.
• Advanced loss of Profit / Delay in start up:
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• Machinery Loss of Profits:
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• Civil Engineering Completer Risks:
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