Engineering operational policies cover risks associated with Machinery and Equipment during the operational phase after commissioning. We primarily handle claims under Machinery Breakdown (MB), Boiler & Pressure Plant (BPP), Electronic Equipment Insurance (EEI) and Contractor’s Plant & Machinery (CPM) policies.
With a team of engineers from diverse disciplines, many of whom have prior hands-on experience in core Engineering and Manufacturing Organisations, we are well placed to technically review and evaluate the findings and root cause analysis provided by the insured’s service engineers. This enables us to clearly understand the technical reasoning behind the reported cause of damage and, wherever required, seek clarifications or raise relevant technical queries to ensure that the conclusions are consistent with the observed damage, maintenance practices and operating conditions prevailing prior to the loss.
Such a structured and informed approach helps ensure that claim assessments are reasoned, technically sound and aligned with policy conditions.
Our experience under Engineering Project Policies includes claims assessed under Contractor’s All Risk (CAR), Erection All Risk (EAR) and Marine-cum-Erection Insurance policies. Engineering project policies cover risks during the erection, construction and commissioning stages of projects.
We have handled claims across a wide spectrum of projects such as hydroelectric power plants, sewage treatment plants, road and infrastructure projects, sugar industries, electrification lines, heavy steel industries, airports and other large-scale developments.
Assessment of project policy claims requires a clear understanding of the project structure, scope of work entrusted to the insured and the stage of execution at the time of loss. Accordingly, our approach involves a detailed site inspection immediately upon claim intimation, followed by further surveys after receipt of loss details, bills and supporting documents from the insured. This enables us to verify the reinstatement methodology adopted and accurately assess the quantum of loss.
Based on our claim experience and site observations, we also provide relevant inputs to underwriters, wherever required, to assist in risk evaluation and future underwriting decisions. Additionally, where applicable, we offer observations and suggestions on loss minimisation and preventive measures to support improved risk management.
