Hotline Call Centre: 1500 674 (MSI)Machinery Breakdown Insurance
Protects machinery against loss or damage arising from operational use.
Key features
All risks coverage
Cover All Risks “Accident” insurance on the machinery due to operation.
Variety of insured objects
Insured objects such as Boilers, turbines, steam engines, generators, compressors, diesel engines and engineering plants etc.
Business interruption – extension cover
Plan highlights
Cover against sudden and unforeseen physical loss of or damage to the machinery
All types of machines, equipment and plant equipment that require high enough electric power
Cover the process at work or at rest, or being dismantled for the purpose of cleaning, inspection or overhauling, or in the course of the operations, or when being shifted within the premises during subsequent re-erection
The coverage is for the owner or principal or employee on development project, also parties with financial interest in machinery or factories or having responsibility in handling or managing the factory
Plan details
To cover unforeseen and sudden physical loss or damage caused by factors such as defects in casting and material, faulty design, faulty workmanship or installation, poor workmanship, lack of skill, negligence, shortage of water in boilers, physical explosion, tearing due to centrifugal force, short circuit, or any other cause not otherwise specifically excluded, which necessitates repair or replacement.
The Insurer shall not be liable for:
The deductible stated in the Schedule which shall be borne by the Insured for each occurrence; if more than one item is lost or damaged in one occurrence, the Insured shall in no event bear more than the highest applicable deductible for those items;
Loss of or damage to exchangeable equipment, such as molds, dies, engraved cylinders, components which due to their use and/or nature are subject to a high degree of wear and depreciation; for example: refractory linings, crusher hammers, items made of glass, belts, ropes, wires, rubber tires, operating media such as lubricants, fuels, catalysts;
Loss or damage caused by fire, direct lightning, chemical explosion (except explosion of flue gas in boilers), fire extinguishing operations or demolition following such operations, aircraft or other aerial devices or articles dropped therefrom, theft, burglary or attempted theft, collapse of buildings, flood, inundation, earthquake, subsidence, landslide, snow avalanche, hurricane, tornado, volcanic eruption, or other similar natural disasters;
Loss or damage for which suppliers, contractors, or repair workshops are responsible, whether legally or under contract;
Loss or damage caused by a fault or defect already existing at the time this Policy came into force and known to the Insured or its representatives, whether or not such fault or defect was known to the Insurer;
Loss or damage arising from deliberate acts or gross negligence of the Insured or its representatives;
Any consequences of war, invasion, acts of foreign enemies, hostilities (whether war is declared or not), civil war, rebellion, revolution, insurrection, civil commotion, riots, strikes, lockouts, labour disturbances, military or usurped power, acts of malicious persons or persons acting on behalf of or in connection with any political organization, conspiracy, seizure, arrest, restraint, confiscation or destruction of or damage to property under orders of any de jure or de facto government or public authority;
Any consequences of nuclear reaction, nuclear radiation or radioactive contamination;
Loss or damage resulting directly from continuous operation, e.g. wear, tear, erosion, corrosion, rust, boiler scale;
Consequential loss or liability of any kind, and any payment beyond the indemnity for material damage as provided herein.
In any action, suit, or other legal proceeding in which the Insurer asserts that, by virtue of Exclusion 7 above, any loss or damage is not covered by this Policy, the burden of proving that such loss or damage is covered shall rest with the Insured.
