Engineering Insurance
CONTRACTORS’ ALL RISKS INSURANCE POLICY
It covers all physical, sudden damages which permanent or temporary construction works exposed to from the date of delivering the materials to the site and during the construction period till the end of maintenance period.
such as ( residential and administrative towers , schools , factories , hospitals , airports , roads , bridges , water and sewerage systems )
Insurance coverage provided by this policy:
- fire , lightening and explosion
- theft and armed burglary
- negligence and lack of experience
- aircraft damages or losses arising from it
- all natural hazards such as : earthquakes , storms , floods , inundations and landslide
- third party liability resulting from the construction of the project
- any unforeseen and sudden physical loss or damage , other than those specifically excluded
ERECTION ALL RISKS INSURANCE POLICY
It covers all sudden and unforeseen physical damages to industrial and services projects during storage, erection & testing till the end of maintenance period.
Such as (factories, power & water stations).
- Insurance coverage provided by this policy:
- fire , lightening and explosion
- theft and armed burglary
- short circuit
- faults in erection , negligence and lack of experience
- aircraft damages or losses arising from it
- all natural hazards such as : earthquakes , storms , floods , inundations and landslide
- third party liability resulting from the construction of the project
- any unforeseen and sudden physical loss or damage , other than those specifically excluded
CONTRACTORS’ PLANT AND MACHINERY INSURANCE POLICY
It covers all unforeseen, sudden, physical loss or damage to contractors’ plant and machinery.
such as ( cranes , drilling rigs , crushers , concrete mixer , loader and other equipment used on site for various construction works).
- Insurance coverage provided by this policy:
- fire , lightening and explosion
- faults in erection , negligence and lack of experience or skill
- collision and overturn
- equipment transit from one site to another
- all natural hazards such as : earthquakes , storms , floods , inundations and landslide
- This coverage shall be applied whether the insured’s equipment are at work or at rest, or being dismantled.
- any unforeseen and sudden physical loss or damage , other than those specifically excluded
MACHINERY BREAKDOWN INSURANCE POLICY
It covers all unforeseen and sudden loss or damage to equipment / machinery.
Such as (boilers, turbines, generators, transmitters and production lines).
- Insurance coverage provided by this policy:
- negligence and lack of skill / defects in casting & material
- faulty design
- short circuit
- physical explosion / tearing apart on account of centrifugal force
- shortage of water in boilers
- This coverage shall be applied whether the insured’s equipment are at work or at rest, or being dismantled.
DETERIORATION OF STOCK IN COLD STORAGE INSURANCE POLICY
It covers any loss or damage to the stock in the cold storage spaces due to any unforeseen and sudden physical loss or damage to the machinery under the machinery breakdown policy in force, caused by change in temperature and the action of escaping refrigerant fumes.
- Insurance coverage provided by this policy:
- physical explosion
- power failure
- negligence and lack of experience
- faulty design
ELECTRONIC EQUIPMENTS INSURANCE POLICY:
- It covers all unforeseen and sudden damages or losses to equipment and electronic equipment.
- Such as (computers, medical equipment, and communication equipment, saving devices and the cost of restore or transferring the data).
- Insurance coverage provided by this policy:
- fire and explosion /smoke / water and humidity
- short circuit / faulty operation / burglary / defects in casting and material
- Damage caused by firefighting facilities..