Engineering Insurance

Engineering Insurance

Engineering Insurance: Comprehensive Protection for Construction & Industrial Projects

Engineering projects involve complex risks during both construction and operational phases. Risk Relife offers Engineering Insurance solutions to protect contractors, project owners, and businesses from unexpected financial losses due to accidents, machinery breakdowns, or project delays.

A. Construction Phase Insurance

1. Contractor’s All Risks (CAR) Insurance

• Covers construction projects against material damage, third-party liability, and unforeseen losses due to accidents or natural disasters.

2. Erection All Risks (EAR) / Storage Cum Erection (SCE) Insurance

• Provides coverage for plant and machinery during erection, installation, and testing, including damages from fire, explosion, and human errors.

3. Marine Cum Erection (MCE) Insurance

• Combines marine cargo and erection risk coverage, protecting transported and installed equipment.

4. Contract Works (CW) Insurance

• Covers material damages to construction works, including external factors such as weather, theft, and vandalism.

5. Contractors Plant and Machinery (CPM) Insurance

• Protects construction equipment (excavators, cranes, etc.) from accidental damages, theft, or breakdown.

6. Advance Loss of Profits (ALOP) / Delay in Start-Up (DSU) Insurance

• Covers financial losses due to project delays caused by insured events like fire, breakdowns, or natural calamities.

B. Operational Phase Insurance (Annual Policy)

1. Machinery Insurance (MI) / Machinery Breakdown (MB) Insurance

• Covers sudden and unforeseen breakdowns of machines due to mechanical or electrical failures.

2. Boiler and Pressure Plants (BBP) Insurance

• Provides coverage for explosions, damage, and legal liabilities related to industrial boilers and pressure vessels.

3. Electronic Equipment Insurance (EEI)

• Protects computers, medical equipment, and industrial electronic systems from accidental damages and breakdowns.

4. Deterioration of Stock (DOS) Insurance

• Covers financial losses due to spoilage of perishable goods caused by breakdowns or temperature fluctuations.

5. Civil Engineering Completed Risk (CECR) Insurance

• Covers damage to completed engineering structures such as bridges, roads, and tunnels due to natural disasters or accidents.

6. Machinery Loss of Profits (MLOP) Insurance

• Compensates businesses for loss of revenue due to machinery breakdowns affecting production.

C. Industrial All-Risk Insurance

• Provides all-in-one coverage for industrial plants, protecting against property damage, business interruption, and equipment failures.

Why Choose Risk Relife for Engineering Insurance?

• Comprehensive Coverage: From project inception to operational phases.
• Tailored Policies: Customizable solutions for various industries.
• Quick Claim Processing: Ensuring minimal downtime for your business.
• Expert Guidance: Specialized risk assessment and insurance consultation.