Engineering Insurance

The basic concept of Engineering Insurance is to provide comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant and equipment and construction machinery as well as third party in respect of property damage or bodily injury arising in connection with the execution of a building project.



 
Machinery Breakdown (M.B) :

Machinery Breakdown

M.B Covers Sudden and Unforeseen Loss or Damage occurring to Machinery, Production Lines and Cold Storages

The Cover provided on an Annual basis and the Insurers normally Liable for Loss or Damage due to the following causes:

  1. Faulty Design
  2. Faulty Operation
  3. Physical Explosion
  4. Shortage of Water in Boilers
  5. Short Circuit, Excess Voltage and Other Electrical Causes

The Coverage can be extended to include some other Risks, the most important are:

  1. Strike, Riot & Civil Commotion
  2. Internal Fire, Internal Chemical Explosion, Direct Lightning
  3. Damage to Raw Materials , Semi-Finished and Finished Products as a result of Leakages from Tanks and Vessels, provide such loss is a consequence of Material Damage Indemnifiable under the policy
  4. Loss or Damage caused by Inundation resulting from Bursting Pipes due to peril covered by the policy