Machinery and Equipment used in various industrial operations are exposed to unforeseen or sudden mechanical or electrical damage. Machinery Breakdown Policy covers machinery, plant and equipment in process industries, factories, engineering work-shops etc, against loss or damage due to electrical or mechanical breakdown, such as defects in casting and material, faulty design, bad workmanship, physical explosion, tearing apart on account of centrifugal force, short circuit, vibration, mal-adjustment, misalignment etc, except those specifically excluded under the policy terms.
Equipment breakdown has the potential to stop business activities, with serious consequences to its survival. Machinery Breakdown Insurance offers protection against these types of losses. The coverage is available on a stand-alone basis to cover Electrical and Mechanical breakdown, Breakdown risk for Electronic equipments and explosion / collapse, risk for Boiler/ Pressure vessels.
Covered equipment can include, but is not limited to: Gas and Steam Turbines; Engines, Pumps and Compressors; Electric Motors, Generators and Transformers; Switchboards and other electrical apparatus; Refrigeration and Air conditioning equipment’s; Computers / Servers / Printers; Steam Boilers & Pressure vessels.
A claim under a machinery breakdown insurance is lodged in case of sudden damage to all sorts of machines. For the handling of this type of claims our expert professionals has extensive technical knowledge in the field of Mechanical Engineering, Electrical Engineering, as well as aircraft techniques and others
Our machinery breakdown experts have many years of practical experience as project managers and/or technical inspectors in the field of gas turbine and steam turbine techniques, generation of energy at coal-fired, gas-fired and biogas-fired power stations and the transport of energy via overhead and underground high-tension networks. Together with their expertise in the field of losses of every kind and liability, they have a thorough knowledge of materials and are well acquainted with the most modern work and repair methods, as well as the costs involved. In certain cases, for instance when an in-depth metallurgical investigation is required, they give support to external specialists in this field. In addition, we can draw on an international network of surveyors who have been selected for their quality.