Engineering Insurance
Contractors All Risk Insurance Concept: This type of insurance is the perfect cover Loss or Damages to all kinds of construction projects such as buildings, roads, bridges & other civil constructions. Coverage: This Policy will cover the policyholder against any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, to the project's property specified in the policy schedule In addition to indemnify the insured in respect of his legal liability toward third parties for accidental bodily injury to or illness and / or Accidental loss of or damage to property belonging to third parties occurring in connection with the construction works. Further policy can be extended to include the following among others; Underground Pipes & Cables Expenses for Express freight, overtime chargers Escalation Owners surrounding property / own property Extended Maintenance Contractors Plant & Machinery Erection All Risk Insurance Concept: The Erection All Risks policy is a comprehensive insurance, which provides complete protection against all types of risks associated with erection, testing, commissioning of machinery, plant and equipment during constructional stage. Coverage: This Policy will cover the policyholder against any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded, to the project's property specified in the policy schedule In addition to indemnify the insured in respect of his legal liability toward third parties for accidental bodily injury to or illness and / or Accidental loss of or damage to property belonging to third parties occurring in connection with the erection works. Machinery Breakdown Insurance Concept: The Covers Loss or Damages to Machinery whilst working or at rest or being dismantled moved or re-erected for the purpose of cleaning, inspection, repair or installation in another position within the situation for the following clauses Coverage: Machinery against unforeseen, sudden accidental physical loss or damage caused by carelessness 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 Electronic Equipment Insurance Concept: This policy covers the insured electronic equipment whether are at work or at rest, or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises, or in the course of the aforesaid operations themselves, or during subsequent re-erection, this cover applies after successful commissioning, and it is divided into three sections. Coverage: Section I- Any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded. Section II- Loss or damage to the external data media inclusive of the information stored thereon, which can be directly processed in External Date Processing systems, resulting from any peril indemnifiable under Section 1 of the Policy. Section III- Any additional expenditure incurred for the use of substitute External Data Processing equipment, resulting from material damage indemnifiable under Section 1 of this Policy gives rise to a total or partial interruption of operation of the External Data Processing equipment. Contractors Plant & Machinery Concept: This Provides over against any unforeseen and sudden physical loss or damage from any cause not specifically excluded whilst at the location (contract site) or in the geographical area mentioned in the schedule. Coverage: This provides cover for heavy machinery that is used in construction projects / sites.