Machinery Breakdown insurance
Machinery Breakdown (MB) insurance focuses on the damages caused to the machine during the working process. It covers physical loss of or damage to the machinery and associated equipment arising from faulty design, faults in erection, defective material, faulty operation, negligence, malicious acts, tearing apart, overloading, over voltage, short circuits and other electrical phenomena. The policy covers the cost of repairs arising out of the above mentioned incidents as well as replacement of machinery in the event of a total loss or constructive total loss.
This is complementary to Property All Risks (PAR) that covers the machines for natural hazard and accidents.
- Employee Benefits
- Property insurances
- Liability insurances