Machinery Breakdown Insurance (MB)

PURPOSE OF COVER

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 LOSSES

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

Consort Technical Underwriting Managers (Pty) Ltd (Reg No 1999/003909/07) is an Authorised Financial Services Provider (FSP No 2273), is FAIS compliant and is underwritten by Lombard Insurance Company Limited (FSP No 1596). CONSORT TECHNICAL UNDERWRITERS © 2020. All rights reserved.