Engineering
Insurance
Contractors all risks (CAR) Insurance policy
The insurer hereby agreed with the insured that if at any time during the period of cover the items or any part thereof entered in the schedule shall suffer any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, the insurer will indemnify the insured in respect of such loss or damage up to the amount specified in the schedule.
Machinery Breakdown Insurance
Cover any unforeseen and sudden physical loss or damage from causes such as defects in casting and material, faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, shortage of water in boilers, physical explosion, tearing apart on account of centrifugal force, short circuit and storm.
Electronic Equipment Insurance Policy
It provides cover against any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded, in a manner necessitating repair or replacement. Cause of loss or damage covered under this policy include fire, lighting, explosion, Crushing air craft, smoke, soot, corrosive gases, water and humidity etc...
Erection All Risk(EAR)
All kind of large project involves a number of hazards both for the contractor and for owner of works (principal) and the economical was to safeguard against all natural and human hazards are to effect EAR policy.
EAR is an all-risks policy. Any sudden and Unforeseen loss or damage to the property Insured during the policy period will be indemnified, unless one of the few exclusions indicated in the policy is applicable. The insured under EAR policy:
- Manufacturer
- Suppliers of machinery or plant
- The commissioned with erection works
- The purchaser of the machinery or plant to be erected etc.
Boiler & Pressure Vessel Insurance(BPV)
This is a policy that cover for insurance against all kinds of explosions ,implosion or collapse specifically of vessels and boilers working under internal pressure or vacuum. This can normally be granted in addition to perils covered under a fire policy or in isolation, and it is designed to include damage to surrounding property of the insured and also liability of the insured for damage to property of third party and for fatal and non-fatal injuries to any third party person.
