MACHINERY BREAKDOWN (MB) INSURANCE
OVERVIEW OF INSURANCE
Machinery Breakdown insurance is designed to provide indemnity for sudden and unforeseen physical loss of 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.
The worst experience a client can have is a sudden breakdown of a key or critical component of their production line. Machinery Breakdown Insurance will not prevent breakdowns but will indemnify the Insured for the cost of indemnifiable damage.
Please fill in the proposal form(s) below and ensure that you submit it to your Broker in order for Consort to quote.
Due to compliance and the regulatory environment under which we operate, we are not permitted / licensed to give advice nor sell any of our insurance products directly to our clients or potential clients. We therefore need to ask that you please make contact with an accredited Short-Term Insurance Financial Services Provider (FSP) / Intermediary (also known as the Broker). If you currently do not have an FSP / Intermediary, you are welcome to call upon us and we will do our best to arrange one of our accredited FSP’s / Intermediaries to assist you.