Engineering Insurance

Machinery Break down

Unforeseen and sudden physical loss or damage from causes such as defect in casting and Materials Faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, physical explosion, short circuit, storm or from ant cause nor specifically excluded.

Contractor's All Risk "CAR"

This policy offers comprehensive and adequate protection against loss or damage in respect of contract works, construction plant, equipment and machinery as well against third party claims in respect of property damage and / or bodily injury arising in connection with execution of a construction project.

Electronic Equipments "IT"

Cost of repairing or replacing the damaged parts of the electronic equipment following sudden, unforeseen material damage.

– If it is possible to insure against the costs of replacing data media recreating data after sudden, unforeseen physical damage to the insured data media, up to an agreed indemnity limit.
– It is also possible to cover the extra costs from unavoidable additional expenditure incurred to continue data processing after physical damage covered under the basic has occurred.

Erection All Risk

This policy offers comprehensive and adequate protection against all the risks involved in the Erection of Machinery, Plant and Steel structures of any kind, as well as third party claims in connection with the execution of an erection project.

Contractor's Plant & Machinery "CPM"

CPM Policy covers losses, due to sudden and unforeseen physical loss or damage to the machinery up to “sum insured”.
The policy covers all types of machinery, equipment fixed at contract sites whilst items are in operation or at rest, or in dismantled state, against:

– Fire, lightning, explosion
– Earthquake, inundation, flood, windstorm
– Negligence or human error
– Theft and burglary
– Short circuit and other electrical cause

Important Exclusions:

– Losses or damage due to mechanical or electric breakdown are not covered.
– Loss or damage to plant and/or machinery working underground.
– Corrosion, rust and deterioration, wear and tear.
– Loss or damage directly or indirectly caused by willful act or willful negligence of the insured or his representatives.
– Consequential losses.
– Third party.
– Loss or damage to vehicles licensed for road use.

Type of Machinery and/or Plant:

Cranes, Trucks, drillings machines, crushers, Generators, iron scaffolding, forklifts, transformers, mixers, pumps, compressors & welding machines.

Deterioration of Stock in Cold Storage

– D.O.S. insurance is a follow up (supplementary) cover to machinery breakdown insurance.
– D.O.S. policy indemnifies NBKS. Goods specified in the schedule which suffer loss or damage caused by deterioration due to unforeseen and sudden physical loss to machinery specified in the list of machinery.
– It covers losses arising from:

– Physical explosion, Short circuit and other electrical causes, Windstorm, frost.
– Negligence, human error, lack of skill.
– A rise or fall in cooling temperature.
– The unforeseen and sudden escape of refrigerants into cold storage.
– Special conditions:

– Refrigeration machinery should be under constant supervision by qualified personnel.
– An alarm system is to be available in order to warn at any time the heat changes.

Important Exclusions:

– Flood, inundation.
– Theft, burglary.

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