PRODUCTS

S.N	Table Of All Products
1	Boiler and pressure plant insurance	Electronic Equipment Insurance
2	Machinery Breakdown Insurance Policy	Contractors all risks insurance
3	Contractors plant and machinery insurance	Erection All Risks Insurance
4	Machinery Loss of Profits Insurance	Civil engineering completed risks (CECR)
5	Deterioration of Stocks	Erection/Construction All Risk Advance Loss of Profit Insurance
6	Machinery Loss of Profits Insurance

Boiler and Pressure Plant Insurance

Anything in stress situation can burst, be it living being or non-living being. Humans do feel physical stress due to the result of not having enough sleep, poor diet, or maybe due to illness. They get mentally stressed due to emotionally devastating events such as loss of loved ones, family issues, lack of personal confidence, work pressure, etc. Similarly, there are non-living objects which do feel pressure and are known as pressure vessels. Let us learn more about them!

Liquids, vapors, and gases can’t be stored and transmitted into a normal vessel and hence are stored in pressure vessels with specific dimensions and constructions. As these substances (liquids, vapors, and gases) exerts an amount of pressure on the walls of vessels in all the directions, the stresses include on a specific section of the pressure vessel’s wall.

vehicles are usually of cylindrical or spherical shape and are used to store fluids under high pressure. Pressure vessels are used in steam boilers, in the storage of chemicals in chemical plants, storing petroleum products like petrol, diesel, etc. They are also used in engine cylinders. Since these pressure vessels are bound to work under immense pressure or vacuum, they are prone to accidents. They can be very dangerous when fails and hence should be reviewed to ensure its compliance with technical standards. If these standards are not met, the captured energy in the pressure vessel tends to expand due to various reasons which lead to either loss of plant and sometimes even lives.

Apart from this, the structure is complex in itself due to the piping systems connected with other pressure vessels and boilers. To avoid such situations, the prevention is always better by keeping these pressure vessels and boilers under insurance, namely, Boiler and Pressure Plant Insurance.

Boiler and pressure plant insurance covers the damage to the boiler and pressure plant caused due to non-fire incidents. The policy is restricted to the boiler and pressure plant owned in the premises. The policy cover is used during the incidents of explosions, implosion, and collapse. There are various Boiler Plants. What kind is yours..

S.N	The policy covers the following:	The policy doesn’t cover the following:	Additional Premium cover:
1	The damage to the boilers and pressure vessels other than fire	Fire, smoke, soot, aggressive substance lightning, theft, collapse of building, subsidence, landslide, rockslide, water	Express freight
2	The damage to surrounding property, up to fixed limits, arising due to the explosion and collapse of the pressure plant during normal working	Accident loss damage and/or/liability resulting from overload experiments or tests requiring the impositions of abnormal conditions	Air freight
3	Liability of the Insured at law on account of:	Loos or damage for which the manufactures or supplier repairer of the property is responsible either by law or under contracts	Owners surrounding property
4	Any injury or death of a person other than the person under the contract of service	Political risks	Third party liability
5	Damage to the property which is not covered under the policy, only in case of explosion or collapse during ordinary working	Nuclear reaction, nuclear radiation or radioactive contamination	Additional custom duty
6		Willful act or willful negligence
7		Wear and tear
8		Inherent defects
9		Lack of maintenance
10		Consequential loss
P.S: several extension to the policy and other benefits can be added as per the requirement. Policy can be customized, please discuss your requirements.

Machinery Breakdown Insurance

A very famous dialogue from a Bollywood movie “3 idiots” which clearly defines a machine and its importance of machines in our life without creating any confusion!

From production or processing to meeting the company’s goals to maintaining customer satisfaction to employee’s motivation to reducing the cost of production and more, machines play a pivotal role in any business.

But have we given a thought to its protection? Protection for your machines and loss minimisation and providing insurance to the magic machines which reduce human effort.Risk Birbal can be your guide and help.

What if your machine breaks down accidentally and you work on halt. All your processes are stopped, and you have to again think about spending lots of money to buy a new one for a smooth business.

There is a policy for your machines, namely, Machinery Breakdown Insurance. This is ideal insurance for all kinds of plant and machinery and covers the cost of repairs or replacement of damaged parts in unforeseen and sudden physical damages. This insurance protects the insured machinery at work or rest and also during the process of dismantling the machine for cleaning, inspection, overhauling or removal to another position or in the course of their operations or subsequent re-erection. The cover is strictly restricted to only machinery/equipment mentioned in the policy not anything else in the location.

The Standards Fire and Special Perils Policy excludes the risk of loss or damage to these particular insured electrical machineries due to fire while Machinery Breakdown Insurance covers this benefit. It includes the electrical machinery originating from within such insured machinery and resultant fire damage to such machinery only.

The major electrical and mechanical breakdowns risks faced by plant and machinery are covered under this policy are follows:

Short-circuiting, excess voltage and electrical arcing
Faulty design, faulty material, and faulty casting
Abnormal/irregular operating conditions
Carelessness and lack of expertise in the operation and maintenance of machinery
Entry of some foreign bodies
Falling, impact collision, etc
Bursting or disruption of turbines, compressors, cylinders of steam engines, hydraulic cylinders or flywheel or other apparatus subject to centrifugal force, internal pressure.

Do get your machines insured now and keep doing less work!

P.S: several extension to the policy and other benefits can be added as per the requirement. Policy can be customized, please discuss your requirements.

Exclusions:

Loss or damage due to fire, lightning, explosion, theft, landslide, flood, inundation, storm, tempest, earthquake, volcanic eruption or any such act
War, Nuclear Perils
Overload experiment or test requiring the imposition of abnormal conditions
Gradually developing flaws, defects, cracks or any partial fractures
Deterioration of or wearing away / out of any part of machinery
Willful or gross negligence of insured
Consequential Loss
Excess stated in the Schedule
Any damage for which the manufacturer/supplier/repairer of the property is held responsible either by law or contract.

Contractors plant and machinery insurance

Machinery plays a vital role in any construction work, and tools & equipment are the main foundation of such construction work. Initiating from hauling and moving to excavate earth and debris generation of power round the clock- it’s all done by machinery. Plants and equipment such as forklift trucks, compressor, piler driving devices, drilling machines account for builders contractor investment. Hence, machinery is the key element of all the construction work. It is very much needed that there is a backup plan if these machinery breaks down as all the work is dependent on the plant and machinery.

But there is a hassle-free way to protect the investment and minimize the repair loss i.e., Contractor’s Plant and Machinery Insurance. This policy protects your business from any probable loss of your investment or repair and replacement costs. The policy runs on an annual basis and covers the unforeseen and sudden physical loss of or damage to the insured items necessitating its repair or replacement

This policy provides cover to the damage or loss to the contractors’ construction equipment due to an accident arising out of external perils. The equipment is generally bulldozers, cranes, excavators, compressors, etc. The policy cover is restricted to the insured property only at work, at rest, being dismantled for cleaning or overhauling or during the subsequent re-erection. The policy can be purchased only after successful

commissioning of the machinery. The sum insured need to always equal to the costs of replacement of the insured machinery by new machinery of the same kind.

Risk Birbal can be your guide and help.

The premium of the Contractors’ Plant and Machinery Insurance also depends on the type of the machine, the locations where they will be used, and risks & extensions you use. The following are the extensions to this policy:

S.N	Extensions to the policy	Exclusions to the policy
1	Goods transported in bulk by truck, train, ship or aircraft	Loss or damage caused due to electrical or mechanical breakdown/failure
2	Airfreight	loss of or damage caused due to replaceable parts such as bits drills, knives or other cutting edges, saw blades, dies, mouldsetc.
3	Owner’s surrounding property	Sudden loss or damage due to explosion of any boiler or pressure vessel. This can subject to internal steam or fluid pressure or of any internal combustion engine
4	Clearance and removal of debris	Sudden loss or damage to plant and machinery due to war and nuclear perils
5	Additional customs duty	Sudden loss or damage to plant and machinery due to willful act/negligence of the insured
6	Escalation	Loss or damage due to contractual liability, manufacture guarantee
7	Third party liability	Electrical or mechanical breakdown are not covered
8	Act of terrorism	Pre-existing defects do not get covered
9	Earthquake	lack of oil or coolant/defective lubrication
10		Any kind of damage for which the manufacturer or supplier is responsible
11		Any consequential loss
12		Loss or damage to vehicles which are used for general road use until working on the specified construction.

P.S: several extension to the policy and other benefits can be added as per the requirement. Policy can be customized, please discuss your requirements.

Electronic Equipment Insurance

Electronic devices surround us, be it mobile phones, computers, laptops, and other bigger machines. This is the era of electronics. It is hard to hear about any home or office without any electronic device in it. Be it large corporates or smaller firms; they need electronic equipment to achieve a successful business. In this era of modern business, electronic equipment like computers, servers, audio/video, security equipment, and industry-specific electronic equipment and electronic critical machines play a pivotal role in achieving the goal of any company. But these equipment are also exposed to various risks as any damage or breakdown to them can put a break in the growth of the company and also put a financial burden and stress to the company holder.

Electronic Equipment Insurance can easily overcome these risks and safeguard electronic equipment financial losses. The policy can help you in avoiding these situations, and you can dream big!

The Electronic Insurance covers physical loss or damage to all the electronic equipment and data media, as well as the increased cost of working resulting from an accidental and unforeseen physical loss or damage to the electronic equipment. The policy also considers coverage to related systems on computer/EDP systems. The policy majorly covers three sections:

Material Damage

It covers the physical loss or damage caused to the equipment. The equipment is repaired or replaced due to any cause.

External Data Media

The policy also covers damage to the external data media and information stored in such media and insure for such loss or damage. The insurance is only applicable if data media is present in the premises and coverage is only granted if the backup system is available for the same.

Increased Cost of Working

This covers the loss/additional costs, which could have arisen due to barriers in smooth business and ensures continued data processing on substitute equipment. It is only applicable if such costs arise as an unavoidable consequence of an indemnifiable loss or damage to property which is insured under this policy.

S.N	This policy is suitable for following equipment	The Exclusions to the policy are
1	Computer and allied peripherals. The term equipment also includes the entire computer system consisting of CPU, keyboards, monitors, printers, stabilizers UPS, etc.	War or War-like operations
2	Auxillary equipment like UPS, Voltage stabilizer, etc.	Nuclear Reaction, or radioactive contamination
3	Medical, biomedical, equipment e.g., cath lab, x-ray machine, ultrasound machines, MRI, CAT scan machines	Wilful act or negligence of the Insured or his representative.
4	Audio/visual equipment	Discontinuance of work, whether complete or partial
5	Electronic control panels	Derangement/disorder of the Insured property which is not accompanied by damage otherwise covered by this policy
6	Telecommunication and navigational equipment	Loss or any damage due to pressure wave caused by aircraft and aerial devices
7	Electronic equipment for research and material testing
8	The value of software will also be covered in this policy
9	It also includes moveable and portable electronic equipment

Add on

By paying a nominal additional premium, the policy can be extended to cover the risk of terrorism.
Keep your equipment safe and business growing by insuring the electronic equipments through Electronic Equipment Insurance!

P.S: several extension to the policy and other benefits can be added as per the requirement. Policy can be customized, please discuss your requirements.

Erection All Risk Insurance

The deployment of any kind of machinery enables companies to work more effectively. The plant refers to machinery, equipment, and apparatus used for any industrial activity.

Suppose, you are initiating a new business which includes erecting a manufacturing unit and needs to protect your investment, a small amount of damage to any of the component might cause heavy financial loss. All the businesses involving storage of equipment, moving or expanding a facility, or dismantling and re-constructing leave your organization open to significant risk. The Erection All Risk Policy is a boon for contractors, manufacturers, and suppliers as it offers protection to the erecting machinery and plant against financial loss. These losses can be due to any unforeseen causes resulting in loss or damage to the property insured at the project site.

The Erection All Risks (EAR) policy covers the risks associated with Plant and Machinery under erections. The major concerned areas are storage, assembly, erection, and testing of the plant and machinery. The cover commences from the date of arrival of the first consignment at the specified site and terminates on the date of the expiry of the policy or completion of erection and trial run. The cover can be extended only in the case of non-completion of the project within the period of the policy. The policy can also be stretched out to include third party liability related to work conducted on the contract site.

The material damage covers the reimbursement of the cost of clearance and removal of debris following any event. This gives rise to an admissible claim under the policy. It also includes the damage to the property insured by explosion or directly caused by an act of terrorism

S.N	Add-ons for the Erection All Risk Insurance are the following	The policy doesn’t cover
1	Cross liability	Any loss or damage due to faulty design, defective material of casting and bad workmanship
2	Third-party liability	Manufacturing defects
3	Cost of removal of debris	Loss of damage due to willful act or willful negligence
4	Express freight, overtime charges	Consequential loss
5	Airfreight	Loss of damage due to the ward or warlike operations
6	Additional customs duty	Any loss or damage due to sudden nuclear reaction or radioactive contamination
7	Earthquake/terrorism	Losses due to normal wear and tear, gradual deterioration
8	Escalation	Cessation of work
9	Owner’s surrounding property	Inventory losses
10	Storage risk at fabricator’s premises
11	Maintenance cover
	several other new extension to the policy and other benefits can be added as per the requirement. Policy can be customized, please discuss your requirements.	Please contact as Risk Birbal can be your guide and help.

Contractors’ All Risk Policy

Any construction project is exposed to some specific risks starting from the arrival of construction material at the site until the completion of the project. The losses can mount from pilferage, theft, damage, legal claims, and much more. Any project under development needs protection against such potential losses which put a halt in certain operations. This may cause financial burden and leave the company strangled.

Contractors All Risk policy is an all-inclusive insurance solution specifically designed to cover this broad spectrum of risks. The policy directly benefits the contractors consulting engineers, architects, financiers, and insureds against unforeseen accidents. The policy covers civil engineering projects such as buildings, roads, airports, flyover, water tanks, sewage treatment plants and many more.

Contractors’ all risks (CAR) Insurance provides coverage for property damage, third party injury or damage claims, and risks on construction projects.