Transcription of 3.0 ENGINEERING INSURANCE BASIC PRINCIPLES
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3.0 ENGINEERING INSURANCE BASIC PRINCIPLES
ENGINEERING INSURANCE In industries and factories, even in offices or at home, nowadays more and more machinery and equipments are being used. They are exposed to various accidental losses like fire, theft, accidental breakdown etc. Such losses not only cause financial stress on its owner but also hinder normal operation of the Industry. Apart from this, massive ENGINEERING projects ranging from building of bridges to set up thermal power stations are very common in today s era of industrialization. Major accidents or natural disasters like earth quake etc will cause immense losses to such projects. ENGINEERING Policies are designed to provide coverage against such accidental losses.
v) The TP Liability cover cannot be granted during extended maintenance A) CROSS LIABILITY COVER – The Third Party Liability Cover can be modified to offer cross liability cover as if a separate policy
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