1.
MATERIAL DAMAGE INSURANCE
This insurance is designed to protect your real property (i.e. your house,
office or factory) and general assets (i.e. furniture, equipment or stock)
from fire, natural perils, any specific perils or accidental physical
damage.
This insurance is available both specific coverage called "Fire &
Named Perils" and broader coverage called "All Risk or Industrial
All Risk"
2.
MACHINERY BREAKDOWN INSURANCE
This insurance covers for physical loss or damage to machinery and equipment
against unforeseen and sudden physical loss or damage resulting from:
-
Defects in materials, design, construction, erection or assembly
- Fortuitous working accidents such as vibration, maladjustment, loosening
of parts, defective or accidental lack of lubrication, water hammer or
local overheating
- Excessive or insufficient electrical pressure, failure of insulation,
short circuits or the effect or arcing, or the effects of static electricity
3.
BUSINESS INTERRUPTION OR CONSEQUENTIAL LOSS INSURANCE
Have
you ever think ? that disaster to your property can interrupt your company’s
profit or can make your cost increased, these can be covered by the insurance.
The policy covers for loss of profit or revenue and increase in cost of
working following the loss or damage to your insured property which have
been covered under your property insurance programme.
4.
CONSTRUCTION/ERECTION & ADVANCE LOSS OF PROFIT INSURANCE
This
insurance is designed to protect the construction or infrastructure projects
including construction or erection of power utilities, hydroelectric dams,
tunnels, bridges, pipelines and high rise buildings. Coverage is provided
is on a physical loss or damage 'All Risks' basis including:
- Materials Machinery Equipment Temporary
- Permanent Works Faulty Design Workmanship Maintenance
Additionally this insurance can be extended to cover financial losses
incurred by the principal, employer, owner and / or financier. Such loss
may be caused by indemnifiable damage arising during the construction
and related testing/commissioning periods.
