Engineering Insurance


The rapid industrialization of our country has led to increasing use of machines in industries. Though, the use of machineries result in increased production capacities, in the event of accident and breakdowns, they can be potential sources of financial loss and could even result in the closure of business. In spite of proper care and maintenance of machinery, mishap may yet occur hence, the need for this cover.

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Erection All Risk
This is the Insurance cover provided for the construction/erection of machinery, plant & steel structures involving very little civil engineering works. There is a seeming similarity between the Contractors All Risk (CAR) and the Erection All Risk (EAR) but it is worthy of note that they are not similar. While the CAR provides cover for civil works and mostly buildings needed to house or support the expensive machinery & equipment,the EAR covers the erection.
Plant All Risks
Plant All Risk (PAR) Insurance covers the plant and machinery which a contractor needs to facilitate execution of a Contractors All Risk or an Erection All Risk project. In most cases, these plants work under extreme environmental conditions of dust, hard terrain, slippery or wet conditions etc.and are therefore exposed to severe wear and tear as well as highly hazardous working conditions.
Machinery Breakdown
This policy is designed to cover any damage to a plant or equipment while working or while being dismantled for the purpose of cleaning, repairing or overhauling. In the same vein, boiler and pressure vessels can be covered under a separate but similar policy. To enable us quote for this risk, we require the following information:
  • Make & Type of Equipment
  • Year of Manufacture
Electronic Equipment Policy
This policy is designed to cover any loss or damage that could result while any computer and or equipment insured is working or at rest. The cover under this policy also extends to include loss or damage to external data media such as diskettes and tapes containing processed information while such are kept within the premises. Any increase in cost of working as a result of damage to the main computer equipment is also covered and compensation is provided for alternative means of carrying on operations. With payment of an additional premium, this policy can be extended to cover the risk of theft.
Contractors All Risks Policy
This cover is taken by the insured when he has an Aviation liability Insurance policy( the primary policy) which covers war and other excluded perils against bodily injuries and property damage. He then buys a war Excess liability policy cover for the deductible on the original policy, whereby if the limitation is exhausted in the primary policy, the excess war liability is called upon.
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Workmen’s Compensation

The Workmen’s Compensation policy provides benefits to workers who may sustain injury resulting into death or disability in the course of their duties. The policy is usually taken by employers of labour and is one of the several policies legislated by law. The benefits payable are graduated on a scale based on the employees annual salaries. In addition to disability and death benefits,the Workmen’s Compensation product also makes allowance for some medical expenses

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Work Men Compesation