Engineering

Our Engineering Insurance offers solutions to contracting firms engaged in construction projects, government-related projects like laying of roads, building bridges, ports, tunnels, dams, desalination plants, power projects, cable laying, pipeline projects and so on.

Contractor’s All risk (CAR)

This cover offers comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant, equipment and machinery, as well as against third-party claims in respect of property damage or bodily injury arising in connection with the execution of a construction project.

Erection all risk (EAR)

This policy offers comprehensive and adequate 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.

Machinery breakdown (MBD)

MBD provides effective insurance cover for plant, machinery and mechanical equipment at work, at rest or during maintenance operations. It covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement. MBD insurance supplements the coverage afforded by fire insurance.

Boiler and Pressure vessel (BPV)

This product offers effective insurance cover by which the Insured shall be indemnified against Damage (other than fire), Liability of the Insured at law, Caused by the explosion

Contractor’s plant and machinery (CPM)

This is an insurance of contractors’ plant and machinery that is done on an annual basis. It covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement. The cover, which excludes internal breakdown, applies at work, at rest or during maintenance operations and is not limited to a specific construction site.

Electronic equipment (EE)

The term “electronic equipment” comprises, in the context of this insurance, all electrical and electronic systems.

Comprehensive machinery (CMI)

Comprehensive machinery insurance offers wide and comprehensive protection against property damage and loss of profits for an entire plant and machinery in operation including other property like buildings, stock, goods in process, etc. This new policy is designed to grant cover for entire plants where engineering risks are prevailing, in contrast to industrial all risks covers where the fire exposure and extended perils are of more importance.

Deterioration of stock (DOS)

The insurance of “deterioration of stock in cold storage” is designed to meet the requirements of those who want to insure themselves against deterioration of goods in cold storage due to a breakdown of refrigerating machinery. Deterioration of stock insurance is a complementary cover to machinery insurance and may only be taken out in connection with the latter.

Machinery loss of profits (MLOP)

MLOP insurance indemnifies the actual loss of gross profit sustained as a result of a business interruption caused by an accident covered under machinery insurance.

Principal’s advance loss of profits (ALOP)

Principal’s advance loss of profits insurance, also known as advance loss of profits (ALOP) or delay in start-up insurance, indemnifies the actual loss of gross profit sustained as a result of delayed commencement of business operation caused by an accident covered under the contractors’ all risks policy or the erection all risks policy.

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