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AXA Engineering Insurance

Engineering insurance provides business owners with the protection against the smallest error or miscalculation that can have significant financial implications if any risks are not well mitigated and avoided.

 

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

• Contractors All-Risk Insurance

• Erection All-Risk Insurance

• Electronic Equipment Insurance

• Machinery Breakdown Insurance

• Contractors Plant & Machinery Insurance


Contractors All-Risk Insurance

The Contractors’ All-Risks (CAR) policy is specially designed to cover for loss or damage to predominantly civil engineering construction projects ranging from small villas to construction of bridges and high rise towers.

This policy enables the contractor or employer to comply with the insurance requirements of the contract.

Erection All-Risk Insurance

The Erection “All-Risks” policy is specially designed to cover loss or damage to projects that involve erection/installation of plant, machinery and equipment ranging from erection of a single machine to a large power plant.

This is an "All-Risk" policy covering various activities of erection/installation, testing and commissioning of plant and equipment (except specific exclusions as mentioned in the policy).

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 damage to property of third parties and bodily damage to third parties.

Electronic Equipment Insurance

This is a specially designed policy, which covers accidental loss or damage to electronic equipment such as the following:

• Electronic data processing machine

• Telecommunication equipment

• Transmitting and receiving installations (including radio, TV, cinema sound reproduction and studio equipment)

• Material testing and research equipment

• Electro-medical installations

• Signal and transmitting units

Machinery Breakdown Insurance

Machinery insurance is important for anyone operating technical plant or machinery, whether they are large industrial enterprises or small firms. Unexpected damage to machinery and equipment can pose a threat to a company’s very existence.

Machinery Insurance covers 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.).

Contractor's Plant & Machinery Insurance

Contractor's Plant & Machinery insurance covers unforeseen and sudden physical loss or damage to equipment owned/hired/ leased. This policy will cover those machineries and or equipment against all risks except mechanical and electrical derangement whilst at work or at rest, in transit and during maintenance.

Contractors All-Risk Insurance

• Tailor-made products for the construction industry

• Cover on all risks basis

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

• Cover for legal liabilities to third parties arising out of the performance of the contract

Erection All-Risk Insurance

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

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

• Optional extensions can be tailored to suit individual customer's needs

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

Electronic Equipment Insurance

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

• Suitable irrespective of trade and size of operations

• Multi-locations can be covered under one policy

• Risk management advice and risk management consultancy services

• Reinstatement of sum insured following insured damage

Machinery Breakdown Insurance

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

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

• Suitable irrespective of trade and size of operations

• Option to cover machinery loss of profits along with machinery breakdown cover can be adapted to the specific features of a risk by means of a series of other optional extensions

• Reinstatement of sum insured is done following loss or damage and a pro-rata premium is deducted from the payable amount

Contractor's Plant & Machinery Insurance

• Cover for plant and equipment whilst working or at rest and/or during overhauling, relocation, re-erection anywhere within the given territory

• Specially designed policy to cover accidental damage to plant, equipment and machineries for all accidental / fortuitous eventualities including negligence except mechanical / electrical failures (see under our Electronic Equipment section for a dedicated cover)

• Suitable irrespective of trade and size of operations

• Optional extensions like SRCC, NAT CAT perils, Claims preparation costs, 72 hours clause, On account payment, Errors & omissions, Theft by hirer, Waiver of subrogation, Loss payee

Why AXA

  • #1 Global insurance brand

  • Tailored covers and extensions

  • Fast claim settlements