Engineering
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.
Popular Products / Policies
- Erection All Risk Insurance (EAR)
- India is a developing country and huge number of projects related to buildings, Industrial units like Cement plant, power plant or Automobile manufacturing unit are being carried out
- We all are aware of the risk or hazards like fire, flood or accidental damage involved during the erection period or testing which can damage the construction material or machinery
- It is a misconception among people that Plant or Machinery can be insured only after completion of Installation and testing.
- Contractor’s Plant & Machinery Insurance
Various types of Contractor’s Plant and Machineries like excavators, rollers, dumpers, earth moving equipment, cranes, drilling machines etc utilized in the construction or Erection site are always exposed to numerous risks and hazards including natural calamities.
- Contractor’s all risk insurance (CAR)
- India is a developing country and huge number of construction projects related to residential or commercial buildings, Industrial units, Roads, Power plants or dams are being carried out
- We all are aware of the risk or hazards like fire, flood or accidental damage involved during the construction period which can damage the construction material, machinery or constructed portion
- It is a misconception among people that building or Machinery can be insured only after completion of construction or Installation.