Contractors Plant & Machinery

Summary

The Plants, Equipment and Machinery are exposed to a number of risks inherent in their operations in addition to the exposure to natural calamities.

This policy covers loss resulting from the accidental breakdown of almost any type of equipment that operates under pressure or that controls, transmits, transforms, or uses mechanical or electrical power.

  • Risk Covered
    • The policy covers sudden, accidental, external damage to the insured equipment due to any cause other than those specifically excluded in the policy.

  • Key Points
    • It covers unforeseen and sudden physical loss of or damage to the insured items, necessitating their repair or replacement. The cover, which excludes internal breakdown, applies at work, at rest or during maintenance operations This policy also provides cover for inland transport with additional premium.

  • Information Required
    • Surrounding Areas/Hazards
    • Details whether the equipment is hired or on lease.

From Our Blog

International Insurance Conference on Catastrophe Events – A Challenge

The PII held its second International Insurance Conference at Sheraton Hotel, Karachi from 10th-12th April, 2012.

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