Description
Erection All Risks Insurance
This class of policy protects the insured who manufactures or erects plants and machinery against financial loss due to sudden and unforeseen damage to property, machines, structures, installations, etc on the site while being stored, erected, tested, and maintained.
Contract works Insurance
This policy aims at providing financial protection for the insured against loss, liability, and or damage that can occur during the building of a structure – whether accidental damages to the structure itself, the installations, on-site plant and machinery, or third-party liabilities caused by the construction project.
Machinery Breakdown Insurance
This is a policy designed to indemnify the insured against damage to the machinery caused by breakdown principally from sources within the machinery. The breakdown could result in the machinery while working or at rest; being dismantled, moved, or re-erected for the purposes of cleaning, inspection, repair, or installation in another position within the premises stated in the policy.
Plants All Risks Insurance
This policy covers loss or damage to the insured from any cause outside the machine e.g. fire, impact, explosion, theft, and to a limited extent, public liability. Since breakdown is specifically excluded the policy is sometimes referred to as machinery all risks – excluding breakdown insurance policy.
Electronics Equipments Insurance
A computer (electronic equipment) insurance policy is designed for the computer and its peripherals i.e. data carrying material and air-conditioning plant. The computer could be defined as all parts of the electronic data processing installation in the situation covered by the policy. Data-carrying materials include tapes, disks, and other materials for carrying data including programs in a form directly assimilable by the computer.
