The CPM policy offers insurance protection for plant and machinery of every kind. It is an annual all risks policy independent of any specific site and covers loss or damage caused by sudden and unforeseen events provided that the cause of loss or damage is not expressly excluded. Insurance coverage includes machinery at work, at rest or during maintenance.
MRe Contractor’s Plant and Machinery Insurance...
Full story On the basis of a combined contractors' all risks and erection all risks insurance, the CP insurance policy provides comprehensive and risk-commensurate insurance protection for all projects involving the construction and erection of buildings, machine installations, plants, and steel structures throughout the project phase.
The scope of cover is of very broad design modelled on the CAR and EAR insurance policies customary in international insurance markets. ...
Full story The comprehensive machinery (CM) insurance policy is essentially an accident insurance for industrial facilities where engineering risks are in the foreground, as opposed to all-risks policies, which focus on fire and allied perils. It covers sudden and unforeseen material damage to the whole facility and, in a way similar to the MLOP policy, the ensuing loss of profits. As in the case of machinery insurance, ...
Full story Large and technically challenging engineering projects involve a large array of risks – beginning with the planning phase through construction to commissioning. These risks should be covered as comprehensively as possible: the new Construction Erection All Risks Policy (CEAR policy).
The CEAR policy for covering construction all risks and erection all risks is clearly structured and unambiguously worded. It may be adapted flexibly to the complex ...
Full story Akhir-akhir ini muncul perdebatan apakah perhitungan premi kenaikan TSI dan tambahan extension-period dalam polis CAR dihitung pro-rata basis atau charged in full?
Calculation of sum insured and premium
Sum insured
The sum insured must be equal to the amount stated in the building contract, plus the value of any construction material supplied and/or additional work performed by the principal. Any ...
Full story It is hereby agreed and understood that the Third Party Liability Clause shall be extended for the maintenance period specified in the Schedule to indemnify the Insured in respect of such sums which the Insured shall become legally liable for,
a) Bodily Injury (including death resulting therefrom) to the third parties
b) Loss of or damage to property belonging ...
Full story- Sunday, November 2, 2014, 18:22
- Civil Engineering Completed
Apa yang dijamin dalam Polis CECR?
Asuransi Civil Engineering Completed Risk atau asuransi atas Pekerjaan-pekerjaan Tehnik Sipil yang sudah selesai dibangun (baca: Polis CECR) ini dirancang untuk memberikan jaminan atas struktur-struktur pekerjaan Tehnik Sipil setelah selesai dibangun dari risiko-risiko sbb:
Full story Apakah putusnya jaringan kabel serat optik PT. Telkom dan pipa PAM Palyja yang menyebabkan kerugian miliaran rupiah akibat mesin ekskavator yang tengah mengerjakan proyek pembangunan jalan layang non-tol (JLNT) Kampung Melayu-Tanah Abang tidak sengaja mengeruk tanah yang di dalamnya ada kabel serat optik PT. Telkom dan pipa PAM Palyja dijamin dalam asuransi CAR si kontraktor JLNT??
Full story- Tuesday, December 22, 2009, 13:51
- Machinery Insurance
Machinery Insurance
What can be insured?
All types of machinery, apparatus, electrical equipment and technical plant can be covered under machinery insurance, such as power generating units (boilers, turbines, generators, gas turbines), power distribution plant (transformers, high- and low-voltage switchgear), production machinery and technical plant and equipment (machine tools, weaving looms, paper machines, kneaders, pumps, compressors, heat exchangers, tanks, apparatus, piping, etc.)
Claims under machinery insurance mostly arise from one of the following causes:
Full story- Tuesday, July 14, 2009, 21:42
- ALOP/DSU
A Marine-cum-Erection or Contractor's All Risk policy covers only physical damage to property which, at best, covers the expenses incurred for repairing or replacing the damaged property.
Highlights
A Marine- cum -Erection or Contractor's All Risk policy covers only physical damage to property which ,at best, covers the expenses incurred for repairing or replacing the damaged property. But what about the financial loss suffered due to delay in commissioning the project ? More so, when your repayment schedule, on loans taken, are linked to the income earned after the scheduled commissioning?
Full story- Tuesday, July 14, 2009, 21:37
- Marine Cum EAR/CAR
This is a comprehensive policy covering all physical risks which a project is exposed to.
Highlights This is a comprehensive policy covering all physical risks which a project is exposed to right from the warehouse of the supplier of equipments - whether imported or indigenous - to its erection, testing and commissioning at the site.
In case the supplier has arranged transit insurance upto the site, a Storage cum erection policy can be issued limiting coverage to risks that the project is exposed to at the site only.
Full story Electronic Equipment Insurance (EEI) covers your electronic equipment or electrical machinery or installation such as medical equipments or ICT against all risks subject to
EEI – Munich Re Wordings. It covers loss or damage due to fire, electrical breakdown, riots, strikes, flood, typhoon, storm or other accidental damage.
Electronic Equipment Insurance (EEI) provides cover for Material Damage, External Data Media and Increased Cost of Working
Full story Contractors’ Plant & Equipment (CPE) Insurance covers your heavy equipment, plant and machinery against all risks subject to
CPE – Munich Re Wordings. It covers equipment whilst at work or at rest, it covers loss or damage due to fire, riots, strikes, flood, typhoon, storm or other accidental damage
Cover is also available on Total Loss basis
Full story Here is sample of a
Quotation of Contractors’ All Risks (CAR) / EAR Project
Contractors’ All Risks (CAR) /
EAR covers all risks of loss or damage to construction of the project or erection of machinery and Third Party Liability as well
Project Construction is of huge value and considerably high risks, it is designed to give full and comprehensive cover with set s of clauses to include Offsite Storage, Designer Risks, Existing Property, Transit Risks, 50/50 Clause, etc etc
Full story Bridge collapse causes 22 fatalities and 46 missing persons
China: On 13 August 2007, a bridge under construction in an ancient Chinese city collapsed as workers removed scaffolding from its facade. The collapse caused 22 fatalities. There were 64 people rescued and 22 injured when the 1,049-foot-bridge in Hunan province collapsed.
The 140-foot-high bridge had four decorative stone arches and was scheduled to open as a tourist attraction at the end of August 2007.
Full story Please click here to read its English version
Terdapat beberapa jenis polis di market yang digunakan untuk penutupan Asuransi Alat Berat yaitu Heavy Equipment Insurance (HE) vs Contractors’ Plant and Equipment (CPE) atau Machinery (CPM). Jadi klien wajib berhati-hati.
Heavy Equipment Insurance (HE) juga terdiri dari berbagai versi wordings, ada yang named perils ada juga yang unnamed perils karena sifatnya yang tailor made jadi sangat bergantung dari perusahaan Asuransi ybs.
Contractors’ Plant and Machinery (CPM) adalah Standard Munich Re wordings yang dipakai luas di industri Asuransi kadang disebut juga Contractors’ Plant and Equipment (CPE) karena mungkin dipandang lebih tepat penggunaan istilah Equipment daripada Machinery untuk objek yang diasuransikan
HE vs CPE manakah yang lebih bagus? CPE pastinya lebih bagus karena selain bersifat standar wordings CPE bersifat “All Risks”.
Contractors’ Plant and Equipment (CPE)
Menjamin semua risiko kerusakan atau kerugian fisik yang terjadi secara tiba-tiba dan takterduga terhadap objek pertanggungan (kecuali beberapa risiko saja yang tercantum dalam pengecualian)
Polis CPE juga tetap menjamin kerusakan atau kerugian pada saat Alat-alat berat sedang bekerja (at work), sedang diam (at rest), ataupun sedang dibongkar dalam proses perawatan atau overhauling
Full story Please click here to read its English version
Erection All Risks (EAR)
Menjamin semua risiko kerusakan atau kerugian yang terjadi dalam proses pemasangan atau instalasi mesin-mesin (kecuali beberapa risiko saja yang tercantum dalam pengecualian)
Jaminan Asuransi Erection All Risks (EAR) termasuk:
· Jaminan untuk Kebakaran, Petir, Ledakan, Kejatuhan Pesawat dan Asap
· Jaminan untuk Kerusuhan, Pemogokan, Perbuatan Jahat dan Huru Hara
· Jaminan untuk Angin Topan, Badai, Banjir dan Kerusakan akibat Air
· Jaminan untuk Gempa Bumi, Letusan Gunung Berapi dan Tsunami
· Jaminan untuk Tanah Longsor dan Pergerakan Tanah
· Jaminan untuk Perampokan dan Pencurian
· Jaminan untuk Kesalahan desain (faulty design) - optional
· Jaminan untuk Kesalahan pemasangan (faults in erection)
· Jaminan untuk Kecelakaan lainnya.
Polis Erection All Risks (EAR) terdiri dari 2 Bagian
Bagian 1 : Kerusakan Material (Material Damage)
Bagian 2 : Tanggung Jawab Hukum terhadap Pihak Ketiga (Third Party Liability)
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Contractors’ All Risks (CAR)
Menjamin semua risiko kerusakan atau kerugian yang terjadi dalam proses pembangunan atau konstruksi (kecuali beberapa risiko saja yang tercantum dalam pengecualian)
Jaminan Asuransi Contractors’ All Risks (CAR) termasuk:
· Jaminan untuk Kebakaran, Petir, Ledakan, Kejatuhan Pesawat dan Asap
· Jaminan untuk Kerusuhan, Pemogokan, Perbuatan Jahat dan Huru Hara
· Jaminan untuk Angin Topan, Badai, Banjir dan Kerusakan akibat Air
· Jaminan untuk Gempa Bumi, Letusan Gunung Berapi dan Tsunami
· Jaminan untuk Tanah Longsor dan Pergerakan Tanah
· Jaminan untuk Perampokan dan Pencurian
· Jaminan untuk Kesalahan desain (faulty design) - optional
· Jaminan untuk Kesalahan atau kelalaian tenaga kerja (bad workmanship)
· Jaminan untuk Kecelakaan lainnya.
Full story