Engineering Insurance

Engineering insurance safeguards the risks faced by an ongoing construction project, installation project and machines and equipment in a business operation. 
 
Contractor’s All Risks Insurance, or more commonly known as CARI, offers comprehensive protection against physical loss or damage to a building, construction plant and/or machinery during contract works and other civil engineering works. This form of insurance is most often required from contractor’s during their fit-out works. 
 
Machinery Breakdown Insurance protects businesses by covering their machinery, mechanical equipment and apparatus against accidental breakdown. 
 
Machinery Loss of Profit following Machinery Breakdown provides cover for the actual loss of profit sustained as a result of business interruption during the time their machinery could operate.

What is Engineering Insurance?

Engineering insurance safeguards the risks faced by ongoing construction projects, installation projects and machines and equipment in project operations.

 

Who are Covered for Engineering Insurance?

 

  • General Contractors
  • Real estate companies – construction related
  • Manufacturing companies or factories with machinery & equipment involved
  • Companies involved in construction of roads, runways, bridges, tunnels, etc.
  • Broadcast & television companies
  • IT or systems related companies

 

Engineering Insurance Coverage

Boiler & Pressure Vessel Insurance

Provides accident insurance for boilers and pressure vessels that are normally used in steam power stations and factories, covering the risk of explosion and collapse

Contractor’s All Risks Insurance (CAR)

Offers comprehensive protection against physical loss or damage to a building, construction plant and/or machinery in relation to contract works and other civil engineering works

Civil Engineering Completed Risk

Grants comprehensive cover for civil engineering structures such as roads, runways, bridges, tunnels, dams, pipelines, sewer systems and other similar projects after their completion

Deterioration of Stocks following a Machinery Breakdown

Provides cover against deterioration of goods placed in cold storage due to a breakdown of refrigerating machinery

Erection All Risks Insurance

Offers full protection against the risks involved in the erection of machinery, plant and any steel structures and electro-mechanical works

Electronic Equipment Insurance

Provides accident insurance on all risks basis, covering sudden and unforeseen loss or damage, which physically affects EDP, office, communication, graphics industry, broadcast and television, and other miscellaneous electronics equipment

Machinery Breakdown Insurance

Covers machinery, mechanical equipment and apparatus against accidental breakdown

Machinery Loss of Profit (MLOP) following Machinery Breakdown

Provides cover for the actual loss of profit sustained as a result of a business interruption caused by an accident indemnifiable under Machinery Breakdown Insurance

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