MACHINERY BREAKDOWN INSURANCE (MB)

Machinery Breakdown insurance is designed to provide indemnity for sudden and unforeseen physical loss or damage to the Property Insured. The indemnity commences on completion of successful commissioning and testing of the machinery at the Insured’s premises. It is a prerequisite and warranty of the insurance policy that all insured machinery is properly maintained and is kept in sound working order. It is important to note that a Machinery Breakdown policy is not a maintenance policy.

    RISK PROFILE OF LOSSES

    • Power surge / electrical shorting
    • Negligence (human error)
    • Wear & tear (consequence only)
    • Accidental Damage
    • Entry of foreign objects

     

    CAUSES OF LOSS

    • Human Error (negligence)
    • Operational Failure
    • Power fluctuation