The rapid industrialization of our country has led to increasing use of machines in industry.Though use of machinery results in increased production capacities, in the event of accident and breakdowns, they can be potential sources of financial loss and could even result in the closure of business.In spite of proper care and maintenance of machinery, mishap may yet occur.Sometimes the extent of damage may be quite high and may also lead to fatal or non‐fatal injuries to human beings nearby.The remedy for such losses is offered by Engineering Insurance policies.