Engineering insurances have arisen to address the demands of technological advancement of modern industries and the special risks that they have created, which need more professional handling.
Engineering insurances are more specific to the requirements of equipments, their erection and operational risks such as breakdowns. There are two broad types of engineering insurances, one for insuring Construction/Erection related projects, called as Project Insurances and the other for insuring risks of operation of individual or groups of machinery or equipment called as Annual Engineering Insurances. The latter consists of Machinery Insurance, Contractor’s Plant and Machinery Insurance, Electronic Equipment Insurance, Boiler Explosion Insurance, Deterioration of Stocks Insurance and Loss of Profits Insurance.
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Overview
motor insurance