This insurance covers the risks present in the erection and installation of electrical or mechanical plants and machinery. Helmed by highly skilled underwriters who can customise your solutions, it’s the perfect plan not just for mechanical and electrical contractors; it’s also ideal for developers, manufacturers and anyone involved in large and complex installations.
Coverage Highlights
Areas of focus
- Power plant construction
- Oil and gas facilities
- Steel, aluminum, cement industries
- Bottling plants
- Pharmaceuticals
What it covers
- Erection and/or installation of electrical or mechanical plant and machinery anywhere in the world
- Losses during the testing and commissioning period preceding hand-over, and damage during the contractual maintenance period
- Movement and re-erection of machinery along with the testing, commissioning and maintenance of installed machinery
- Breakdown and explosion during testing and commissioning
- Overseas contracts, subject to some territorial and environmental peril limitations
The standard insurance covers:
- Defective design under the LEG 2/96 wording
- Damage to installed equipment during maintenance visits
However, it can be extended to provide:
- Wider defective design cover
- Extended or ‘full’ or guarantee maintenance
Benefits
- Experience in underwriting various types of risks, from standard installation contracts to large scale power and energy plants
- Strong track record as the leading insurance of large and complex project contracts
- Capacity to cover contracts in many overseas territories
- Highly experienced risk engineers who can assist in risk management and reduction, while ensuring that standards are maintained during erection and installation works
“©2016 Chubb Samaggi Insurance PCL. This policy is underwritten by Chubb Samaggi Insurance Public Company Limited. Full details of the terms, conditions and exclusions of this insurance are provided in the policy documentation. Please read our Terms of Use. Applicant should read the terms and conditions of the policy thoroughly prior to applying for insurance.”
*For international insurance brokers or clients who require insurer/reinsurer to hold a financial strength rating that is higher than that held by Chubb Samaggi Insurance Public Company Limited, please contact ACE INA Overseas Insurance Company Limited, Thailand Branch.
Interested in this Chubb policy?
Have a question or need more information? Contact us to find out how we can help you get covered against potential risks