OUR PRODUCTS
Engineering Insurance
Contractors all Risks
This is an Insurance policy that provides compensation for
loss or damage to the contract works, the Plant and
Equipment at sites and also for the legal liability arising
there from.
The insurance Policy protect the following aspect of
contract activities:
Contract work itself e.g. the buildings, roads etc.
Plant and Machinery on site.
Debris Removal
Professional fees
Public Liability
Third Party Property Damage.
Erection all Risks
This class of Insurance is normally taken by corporate
organisation when there is a need for them to erect Plant
and Machinery. It provides compensation for loss or
damage resulting from the installation/Erection of Plant and
Machinery.
Machinery Breakdown
This covers sudden and unforeseen physical loss or
damage, necessitating repairs or replacement to the
Insured Machinery. The Machinery are protected against
the following risks :
maladjustment, faulty designs, misalignment
loosening of parts, abnormal stresses, fatigue failure of
protective devices, entry of foreign objects, impact,
collision, shortage of water in steam boilers or pressure
vessels and self-heating.
Electronic Data Processing Insurance
This policy covers damage to computers, media, and data.
The cover includes damage caused by electrical
disturbances, mechanical breakdown, and temperature and
humidity changes, computer virus and computer hacking.
Contractors’ Plant and Machinery (CPM)
This provides covers for unforeseen and sudden physical
loss of or damage to the insured items, necessitating their
repair or replacement whether the insured items are;
1. at work or at rest
2. being dismantled for cleaning or overhauling
3. Or whilst being cleaned or overhauled.
Loss of Profit Following Machinery Breakdown insurance
It provides cover for the loss of gross profits sustained as a
result of a business interruption caused by material damage
indemnifiable under Machinery Breakdown insurance.
The policy compensates for:- Loss of Gross Profit
The continuing business expenses (standing charges)
including the salaries and wages paid to employees.
The increase in cost of working, i.e. the additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover.
Deterioration of Stock (DOS)
This type of insurance covers damage to goods stored in
specified cold storage spaces, which occurs as a result of a
change in temperature caused by a breakdown of the
refrigeration equipment or accidental damage to it.