Engineering insurance consists of specialized policies that offer financial protection against potential risks that may arise in construction, assembly, machinery, and other engineering projects. These policies provide coverage against accidents, damage, theft, and other potential risks that may occur during the project process. Since each engineering project has its own specific features, the policies are tailored to the unique needs of the project. 

Engineering insurance provides support in four main areas:

Electronic Device Insurance 

This policy covers damages caused by sudden, unexpected, and previously unknown reasons to electronic machinery, equipment, or data processing systems listed in the policy by type, quantity, year of manufacture, quality, and insured value. The coverage applies when the equipment is operating normally after the trial period, or during cleaning, maintenance, overhaul, relocation within the same workplace, or when it is idle.

Machinery Breakdown Coverage

This policy covers sudden and unexpected damage to machinery used for production or service purposes at the insured facility, during normal operation, periods of stoppage, or during maintenance, overhaul, or repair.

Construction All Risks

Construction All Risks Insurance provides the broadest coverage against risks that may arise from the time construction materials arrive at the site until the project is put into use. It covers all events caused by sudden and unexpected reasons that are not pre-known, unless otherwise contractually stipulated in the General Conditions or excluded by the general and special terms.

Unlike other types of insurance, the policy period is not fixed and varies based on the project duration. For construction projects subject to tender, the policy period starts from the date of site hand over and continues until the date of provisional acceptance. For non-tendered projects, the policy starts from the beginning of excavation or site establishment and ends upon completion of construction.

Assembly All Risks 

This policy provides protection against risks that may arise from the beginning to the completion of assembly operations. It offers coverage for sudden and unexpected events that may occur during the assembly process.

It is an All Risks policy that covers any sudden and unexpected damage to preparatory materials, assembly equipment, or construction machinery located at the construction site at the time — for both the work completed so far and the parts to be completed in later stages.