The Machinery Breakdown Insurance provides protection for physical damage that occurs suddenly and unexpectedly to the machine in the course of its operations.
This insurance product is suitable for machine owner companies, such as factories, hotels, restaurants, hospitals, offices, shopping centers, banks or multifinance or leasing companies providing machinery loans.
The insurance covers machinery breakdown caused by and in circumstances or situations such as :
Material and manufacturing defects, mis design, carelessness, short circuit
Lack of skill, lack of water in the boiler, poor workmanship, physical explosion, tearing due to centrifugal force, storms, or other causes not specifically excluded that need improvement
Insured items are at work or at rest, is being dismantled for thorough maintenance purpose, or in a series of activities, being moved within the site, or during reassembly after a successful completion of feasibility assessment.
