Product Description – front page
Protects machinery against loss or damage due to operation.
- Cover All Risks “Accident” insurance on the machinery due to operation
- The insurer indemnifies the insured against the loss of or damage to the insured motor vehicles caused by accident, collision/impact, malicious action by another person, theft, fire and lightning, any cause during crossing by ferry, damage to the tyres, when it caused damage to the vehicle due to an accident, reasonable expenses incurred, such as towing expense due to accident, max 0.5% of the sum insured.
- Business interruption – Extension cover
- Cover against sudden and unforeseen physical loss of or damage to the machinery
- All types of machines, equipment and plant equipment that require high enough electric power
- Cover the process at work or at rest, or being dismantled for the purpose of cleaning, inspection or overhauling, or in the course of the operations, or when being shifted within the premises during subsequent re-erection
- The coverage is for the owner or principal or employee on development project, also parties with financial interest in machinery or factories or having responsibility in handling or managing the factory
Any unforeseen and sudden physical loss or damage necessitating its repair or replacement due to causes such as:
- Defect in casting and material.
- Faulty design.
- Faults at workshop or in erection.
- Bad workmanship.
- Lack of skill.
- Shortage of water in the case of boilers.
- Physical explosion or tearing apart on account of centrifugal forces.
- Short circuit.
- The deductible stated.
- Loss or damage to belts, ropes, chains, rubber tyres, dies or exchangeable tools.
- Loss or damage due to Fire, the extinguishing of a fire, or subsequent demolition, theft, subsidence, landslide, floods, inundation, earthquake or similar natural catastrophes.
- Loss or damage for which the manufacturer or supplier of the property is responsible either by law or under contract.
- Loss or damage caused by any faults or defects existing at the time of commencement of this insurance within the knowledge of the Insured or his representatives.
- Loss or damage arising out of the wilful act or gross negligence of the Insured or his representatives.
- Loss or damage in consequence of war, invasion, acts of foreign enemy, hostilities or warlike operations, civil war, mutiny, insurrection, rebellion, revolution, conspiracy, military or usurped power martial law, riot and civil commotion, strikes, lock-outs, confiscation, etc.
- Nuclear reaction, nuclear radiation or radioactive contamination.
- Loss or damage wearing away or wearing out of any property insured.
- Consequential loss or liability of any kind or descriptions.
- Other exclusions as defined in the Insurance Policy.