Engineering Insurance

Erection All Risks

Covers machinery, plant, and steel structures of any kind while they are being installed. It also covers claims if that work damages someone else’s property or injures someone.

Contractor's All Risks

Covers the contract works on a civil engineering or building project, plus construction plant, equipment, and machinery. It also covers claims if the work damages someone else’s property or injures someone.

Contractor's plant and machinery

An annual policy for a contractor's plant and machinery. It covers loss or damage while the equipment is working, idle, being maintained, or in transit, and it is not limited to one site.

Machinery

Covers sudden, unexpected physical loss or damage to plant, machinery, and electrical or mechanical equipment, from causes the policy does not exclude, when the item has to be repaired or replaced. It is accident cover. Items that wear out much sooner than the rest of the plant are normally left out.

Machinery loss of profit

Pays the actual loss of gross profit when an accident covered by machinery insurance interrupts the business. It generally covers:

• Continuing business expenses (standing charges)
• Net profit
• Salaries and wages
• Extra costs to avoid or reduce a drop in turnover

It matters most for bottleneck equipment in power generation, such as boilers, steam turbines, generators, transformers, and process machinery.

Boiler and pressure vessel

A boiler makes steam under high pressure and temperature. It can explode or collapse. Collapse, when parts bend under that heat and pressure, happens more often than an explosion, and either can destroy the boiler and damage nearby property and machines.

This policy covers explosion or collapse of a boiler or other pressure vessel, such as a gas cylinder. It also pays to repair the vessel, its auxiliary equipment, and surrounding buildings, machinery, and other property.

Electronic equipment

Covers valuable electronic equipment: electrical systems that do not need high power, such as:

• Electronic data-processing equipment
• Electrical and radiation equipment used in medicine
• Communication equipment

Equipment that creates, converts, stores, transfers, or processes data can be insured. The policy can protect an owner, a landlord or tenant, an operator, a hirer, or a maintainer. It is accident cover, and it starts only after the items are successfully commissioned. Mobile and portable equipment can also be covered while it is stationary or in transit, anywhere in the country.

Comprehensive machinery

Broader property cover for machinery and industrial plant, for risks that are harder to insure. It suits power and steel plants, paper and cement factories, sugar mills, and similar sites with a high chance of machinery damage and a lower chance of fire, explosion, and natural hazards.

Comprehensive project

For installation and construction projects, especially ones that include both building work and machinery installation, such as hydroelectric plants. Along with liability to other people and construction machinery, it includes marine cargo, so the project is covered in one policy.