Engineering Insurance
When sudden and unforeseen damage occurs, businesses reliant on key items of machinery can be faced with costs running into tens of thousands, in addition to the financial loss resulting from the machine being out of action and unable to complete its normal tasks. Our placements under Engineering policies are designed to cover the cost of repair or replacement of this machinery.
We can provide cover for plant and machinery used in a vast array of situations, including non-manufacturing items, such as lifts, boilers and cranes, as well as items used in light to medium manufacturing processes, such as bottling plant, transformers and milling machines.
Sudden and unforeseen damage – This will protect you against costs from damage as a result of breakdown, explosion, collapse, operator error and accidental damage.
Option to insure against business interruption following an insured event on either a Gross Profit or Revenue Basis.
Claims scenario – Insurers immediately organised the repair of a manufacturer’s specialist equipment when it broke down. This complex response included paying air fares for specialist engineers to fly in, leveraging industry contacts to source replacement equipment and paying the overtime costs to replenish stocks. This speedy response meant the manufacturer could continue running its business with no impact on its customers, preventing any loss of reputation and potential loss of future orders
Why Engineering Inspection is Important!
Your machinery and equipment needs to be checked regularly to make sure it’s safe and won’t let you down, and you need to make sure you comply with health and safety legislation. The Health and Safety Executive (HSE) states that regular inspection and testing is an essential part of maintenance programmes.
We can arrange a contract so that surveyors carry out regular inspections to check for faults or defects which could pose a risk to your employees and customers and help keep your business safe. The contract will involve the comprehensive inspection of everything from your fixed wiring and circuit boards to your more complex installations. This service plays a critical role in ensuring your compliance with the Electricity at Work Regulations 1989, as well as the strict guidelines set out by the Health and Safety Executive (HSE).
Inspections
- LOLER – Lifting Operations and Lifting Equipment Regulations
- COSHH – Control of Substances Hazardous to Health Regulations
- PUWER – Provision and Use of Work Equipment Regulations
- HASAWA – Health and Safety at Work Act
- EAWR – Electricity at Work Regulations PSSR – Pressure
- PSSR – Pressure Systems Safety Regulations
