Engineering & Machinery Insurance
Provides economic safeguards to the risks faced by ongoing construction projects, installation projects, and machines and equipment in project operations.
Product categories:
i. Construction project all risks insurance
ii. Installation project all risks insurance
Coverage:
Product categories:
i. Construction project all risks insurance
ii. Installation project all risks insurance
Coverage:
- Material loss: the insured project loss caused by any accidents or natural disasters, except exclusions.
- Third party liability: according to law, the insured shall assume compensation liability for the personal injury or property damage to the third party in construction sites and adjacent areas caused by the accident that directly relates to the insured project.
- Exclusions: faulty engineering design, construction technology error, construction material quality defects, mechanical damage of machinery and equipment that happens without external momentum.