Engineering

AXA Engineering Insurance

 

Protect your business from adverse financial impact arising from your construction and installation projects no matter what stage they are in, as well as the machines and equipment used for the projects.

 

AXA offers a range of innovative solutions to cater to your business needs:

• Contractors All-Risk

• Erection All-Risk

• Electronic Equipment

• Machinery Breakdown

• Contractors Plant & Machinery

 


Contractors All-Risk Insurance

This policy is specially designed to cover the loss or damage to predominantly civil engineering construction projects, ranging from small villas to the construction of bridges and high rise towers.

This policy also enables the contractor or employer to comply with the insurance requirements of the contract and can be issued on a project by project basis or as an annual policy covering multiple projects in a year.

Key benefits:

• Tailor-made products for the construction industry.

• Cover on all-risk basis.

• Specialised team of engineers available to help in the implementation of risk management measures.

Erection All-Risk Insurance

Any loss or damage to projects that involve erection/installation of plant, machinery and equipment is covered by this policy; ranging from erection of a single machine to a large power plant.

It protects a contractor or employer against physical loss or damage to the contract works, construction plant and equipment or machinery. It also includes cover for physical harm and damage to property belonging to third parties.

The policy can be issued on annual basis covering multiple projects in a year or a specific project.

Key benefits:

• Cover can be designed according to the specific needs of the project.

• Covers legal liabilities to third parties arising out of the performance of the contract.

• Optional extensions can be tailored to suit your individual needs.

Electronic Equipment Insurance

This policy covers accidental loss or damage to electronic equipment such as:

• Electronic data processing machine

• Telecommunication equipment

• Radio transmitting and receivers (including radio, TV, cinema sound reproduction and studio equipment)

• Material testing and research equipment

• Electro-medical installations

• Signal and transmitting units

Key benefits:

• Specifically designed for electronic equipment with additional options to cover external data, media and increased costs of working.

• Suitable for your business, no matter your type of trade and size of operations.

• Multiple locations can be covered under one policy.

Machinery Breakdown Insurance

Machinery Insurance is important for everyone operating a technical plant or machinery, whether they are large industrial enterprises or small firms, as unexpected damage to machinery and equipment can deter the progress of a company’s projects.

This policy covers a diverse spectrum of machines and equipment in commercial and production facilities, such as:

• Power generating units (boilers, turbines, generators, gas turbines, etc.)

• Power distribution plant (transformers, high- and low-voltage switchgear, etc.)

• Production machinery, plant and equipment (electric motors, compressors, pumps, gear boxes vessels, reactors, etc.).

Key benefits:

• Comprehensive cover for operational machinery whilst working or at rest and/or during overhauling and relocation within the premises.

• Specially designed policy to cover accidental damage to plants, equipment and machineries for operational failure, unforeseen conditions, operational negligence, etc.

• Optional extensions to cover machinery loss of profits and breakdown, can be easily adapted to the specific features of a risk.

Contractor's Plant & Machinery Insurance

This policy covers unforeseen and sudden physical loss or damage to equipment owned, hired or leased. It covers those machineries and/or equipment against all risks except mechanical and electrical derangement whilst at work or rest, in transit as well as during maintenance.

Key benefits:

• Cover for plant and equipment whilst working or at rest, specially designed to cover accidental damage to plant, equipment and machineries for all accidental and unanticipated eventualities including negligence except mechanical and electrical failures.

• Suitable for your business, no matter your type of trade and size of operations

• Optional extensions to cover strikes, riots and civil commotion or Act of God perils, claims preparation costs, 72-hours clause, on account payment, errors and omissions, theft by hirer, waiver of subrogation and on loss payee.

How to submit your claim

You can directly contact your AXA Account Manager who will guide you through the claims notification process.

Why AXA

  • Tailored covers for small and large scale projects and businesses

  • Superior claim handling and strong customer centricity

  • Risk management advice