ENGINEERING INSURANCE

ENGINEERING INSURANCE

Engineering insurance provides coverage for risks associated with engineering projects, construction, and the operation of machinery. It is designed to protect businesses and contractors from financial losses due to accidents, damages, or malfunctions related to engineering activities.

Plant All Risks Insurance

Plant All Risks Insurance Policy covers loss or damage to the plant/equipment from any cause outside the machine, e g fire, impact and theft.

Features:

  • All Stationary equipment can be covered
  • Mechanical plant Including engines, turbines ( water gas), blowers, compressors, pumps, machine tools, presses and refrigerators
  • Process machinery in such industries as cold storage, engineering

Benefits:

  • Indemnifies in the event of Short circuit, disruption, electrical overpressure
  • Failure of operation of safety devices
  • Structural
  • defects, material defects or defects of assembly
  • Fortuitous working accidents such as vibration, maladjustment
  • Loosening of parts, abnormal stresses, fatigue, centrifugal force, excessive speed
  • Defective or accidental lack of lubrication, seizure, water hammer or local overheating
  • Falling, impact, collision or similar occurrences
  • Obstruction or the entry of foreign bodies
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ERECTION ALL RISK INSURANCE

The Erection All Risks policy protects the insured who manufactures or erects plants and machinery against financial loss due to sudden and unforeseen damage to property, machine, structures, installations while on-site or while being stored, erected, tested, and maintained.

BENEFITS

  • Material damage Cover: This covers the insured against physical loss or damage to the constructs from causes such as fires, theft and burglary, faults in erection, earthquakes, and short-circuiting.
  • Legal liability Cover – Covers the insured against any sums which the insured shall become liable to pay for damages resulting from property damage and accidental bodily injury to third parties.
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MACHINERY BREAKDOWN INSURANCE

This policy safeguards the insured from machinery damage due to internal breakdown during use. It covers unexpected and abrupt physical harm, requiring repair or replacement of the insured items.

Benefits

Covers structural, material, or assembly defects.
Reimburses for unforeseen accidents like vibration, maladjustment, and excessive speed.
Protects against issues like lack of lubrication, water hammer, and impact damage.
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Features

Protects against damage from short-circuits, electrical over-pressure, and disruptions.
Covers safety device failures.
Protects against obstruction or foreign body entry.
Applies to stationary equipment like engines, turbines, compressors, and more.
Also includes process machinery in industries like cold storage and engineering.

CONTRACTOR ALL-RISK INSURANCE

This insurance covers loss or damage in respect of contract works, construction plant and equipment and/ or construction machinery, as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of a civil engineering project.

BENEFITS

Cover is provided for the value of the materials and property being used on a project.

However, where there is an existing property cover for the existing property is excluded and must continue to be insured under its own insurance cover.

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