Commercial - Effects - Engineering

Engineering

CONTRACTORS ALL RISKS

 

This cover provides adequate protection against loss or damage in respect of contract works, Construction Plant & Equipment or Construction Machinery. The cover also includes Third Party claims in respect of property damage or bodily injury arising in connection with the execution of the project or contract as defined in the policy.

 

This is a comprehensive cover and some of the indemnifiable causes include :

a) Fire, Lightning & explosion
b) Flood, inundation
c) Windstorm
d) Earthquake
e) Theft/Burglary
f) Negligence, Malicious acts or human error


Cover attaches from commencement of work, and terminates when the project is completed. The cover can be extended to cover a maintenance period also.

 

The premium charged is on the basis of the following:

(i) Nature of contract & location of site.
(ii) The contractor’s competence, record e.t.c.
(iii) Period of contract and maintenance period & value of the project.

 

COMPUTER & ELECTRONIC EQUIPMENT INSURANCE

 

This policy is an accident cover on an All Risks basis covering sudden and unforeseen losses which physically affect the insured item in a manner necessitating repair or replacement.

 

EMPLOYERS LIABILITY INSURANCE

 

This cover is for Legal Liability of the insured to his employees arising from the contract of employment and directly related to the negligence or breach of common law or statutory duty on the part of the employer.

 

MACHINERY BREAKDOWN INSURANCE

 

This is intended to grant effective insurance coverage for plant, machinery and mechanical equipment at work, at rest or during maintenance operations.


Machinery Breakdown is all risk insurance for machinery providing cover against sudden and unforeseen physical loss or damage to the insured machinery.

 

The sum insured should reflect present day replacement cost

 

PLATE GLASS

 

The policy provides indemnity to the Insured against loss and/or destruction/damage to glass by accident or misfortune of a fortuitous nature.

There are options to either replace the broken glass according to description or to pay the sum equivalent to the value of the broken glass at the time of loss up to the sum insured less salvage.

 

PUBLIC LIABILITY INSURANCE

 

A public Liability policy protects the insured in respect of his/her Legal Liability to third parties for both bodily injury and property damage arising from:

Negligence
Statute
Contract
Vicarious Liability

 

The cause of loss must be accidental as it is not the intention of the policy to cover deliberate acts of omissions or commissions.