Technical risks insurance covers specific risks that machinery and mechanical as well as electronic equipment is exposed to due to its nature and type of operation.
Electronic Equipment Insurance
This type of insurance is designed for cases of unexpected and unforeseen damages to electronic equipment which requires repair or replacement of this equipment. Apart from technical risks the product also includes natural perils, theft and vandalism insurance.
This type of insurance covers unexpected loss or damage of stationary or mobile machinery and mechanical equipment.
All-risks Machinery Insurance
This insurance covers material damages to a machine or a piece of equipment insured caused by any risk provided these risks have not been specifically excluded or otherwise limited in the policy wording.
A machine or a piece of equipment shall be insured regardless of whether it is in operation (active) or out of operation (standstill), whether it is disassembled for maintenance purposes, undergoing maintenance or cleaning, or whether it is being assembled again.
Insurance events examples:
- Design defect, material defect, manufacturing defect
- Steam, gas or fluid overpressure or underpressure
- Lack of water in boiler or in pressure vessels
- Breakdown caused by centrifugal force
- Fall or ingress of foreign object which is not a part of the machine insured
- Short circuit or other impacts caused by current
- Measuring, regulation and safeguarding systems faults
Insurance of Stock in Cooling and Refrigerating Facilities
This type of insurance covers deterioration or destruction of stock in cooling or refrigerating facilities due to their unexpected and unforeseen breakdown provided such breakdown is covered by the Technical Risk Insurance arranged by our insurance company.