Engineering Insurance
UIC puts available in your possession different kinds of Engineering
Insurance Policies and offer you the insurance protection against
insurable risks relating to engineering and industrial works as follows:
Contractors All Risks Policy (C. A. R):
This policy provides insurance protection to projects during construction against:
1. All risks to which the project may be probably exposed.
2. The policy may be extended to cover maintenance period mostly indicated in the initial contract of the project.
3. It may be also extended to cover the contractors’ liability towards
third party accidental bodily injury and/or accident loss of or damage
to property belonging to third parties.
Erection All Risks Policy (E. A. R):
This policy offers insurance protection to machineries during installation period against:
1. Any unforeseen and sudden physical loss or damage from any causes other than those specifically excluded in the policy.
2. The policy is extended to cover a certain fixed period in the schedule of the policy for technical test.
3. It may be also extended to cover the contractors’ liability towards
third party accidental bodily injury and/ or accidental loss of or
damage to property belonging to third parties.
Machinery Breakdown Insurance policy:
This policy provides insurance protection to machineries after
successful completion of their performance acceptance tests whether
they are at work or at rest against:
Any unforeseen and sudden physical loss or damage from causes such as
defects in casting and material, faulty design, faults at workshop or
in erection, bad workmanship, lack of skill, carelessness, shortage of
water in boilers, physical explosion, tearing apart on account of
centrifugal force, short circuit, storm, or from any other cause not
specifically excluded in the policy in a manner necessitating repair or
replacement.
Loss of Profits – Following Machinery Breakdown
Insurance Policy (M.L.O.P):
This policy provides insurance protection against consequential losses,
suffered by the proprietor of factories during the period of insurance
or renewal thereof, that due to an accident covered under (the
Machinery Breakdown Insurance policy).
Boiler and Pressure Vessel Insurance policy:
This policy offer insurance protection to the insured, during the
period of insurance or any renewal thereof to indemnify him against:
1. Damage (other than by fire) to any boiler or pressure vessel described in the policy and to other property of the insured.
2. Liability of the Insured at Law for damage to property not belonging to the insured.
3. Liability of the Insured at Law on account of fatal or non-fatal
injuries to any persons other than the Insured’s Own employees or
workmen or members of the Insured’s Family.
Caused by solely to explosion or collapse as defined in the policy of
any boiler or pressure vessel described in the policy whilst in course
of ordinary working.
Electronic Equipment Insurance policy:
This policy provides insurance protection to Electronic Equipment
described in the policy whether they are at work or at rest, or being
dismantled for the purpose of cleaning, overhauling or of being shifted
within the premises, or in the course of the aforesaid operations
themselves, or during subsequent re-erection, but in any case only
after successful commissioning.
The United Insurance Company will indemnify the insured, if at any time
during the period of insurance or any renewal thereof the insured
Electronic Equipments suffer any unforeseen and sudden physical loss or
damage from any cause other than those specifically excluded.
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