Engineering

Erection All Risks Insurance (EAR) is an insurance against accidents resulting in damage or destruction to machineries, equipment and apparatus during the process of erection or installation.

EAR REQUIREMENTS

• Copy of Contract of Agreement
• Breakdown of the Total Contract Value
• Bar Chart or Time Schedule
• Project Plans

Electronic Equipment Insurance is an accident insurance on an “all risks” basis for electronic equipment such as:

• Electronic Data Processing Equipment (EDP Equipment)
• Electrical and radiation equipment for medical use such as electrocardiograph, X-ray and other radiation equipment in hospitals and medical laboratories, etc.
• Communication facilities such as telephone exchanges, radio, television and communication apparatus, etc.
• Miscellaneous equipment such as film and television studio equipment, automatic addressing, booking and invoicing machines, etc.

EEI REQUIREMENTS

• List of Equipment to be Covered
• New Replacement Value of each Equipment
• Survey of the Site (Optional)

Machinery Breakdown Insurance is, by its very nature, an accident insurance on machinery, mechanical equipment and apparatus resulting in mechanical breakdown.

Machinery Breakdown Requirements

• List / Technical Description of the Equipment to be Covered
• New Replacement Value of each Equipment
• Survey of the Plant (Optional)

A Boiler & Pressure Vessel Insurance Policy provides indemnity for accidents to boilers and pressure vessels resulting in explosion and collapse due to cause such as over-pressure and failure of safety valves, defective material, faulty workmanship, weakness in design.

Boiler Requirements

• Technical Description of the Boiler
• New Replacement Value of the Boiler

Deterioration of Stock Insurance is an insurance against deterioration of goods placed in cold storage due to a breakdown of refrigerating machinery.

WHAT IT COVERS
Loss of Profits following Machinery Breakdown Insurance provides cover for the actual loss of profits sustained as a result of a business interruption caused by an accident indemnifiable under Machinery Breakdown Insurance. Basically speaking, a loss due to an interruption or interference of business operations is made up of the following factors.

– The reduction in turnover resulting from decreased production or other impairment of business operations caused by an accident.
– The increase in cost of working, i.e. the additional expenditure necessarily and reasonable incurred for avoiding or diminishing the reduction in turnover.