- CPM Policy covers losses, due to sudden and unforeseen physical loss or damage to the machinery up to “sum insured”.
- The policy covers all types of machinery, equipment fixed at contract sites whilst items are in operation or at rest, or in dismantled state, against:
– Fire, lightning, explosion
– Earthquake, inundation, flood, windstorm
– Negligence or human error
– Theft and burglary
– Short circuit and other electrical cause
– Losses or damage due to mechanical or electric breakdown are not covered.
– Loss or damage to plant and/or machinery working underground.
– Corrosion, rust and deterioration, wear and tear.
– Loss or damage directly or indirectly caused by willful act or willful negligence of the insured or his representatives.
– Consequential losses.
– Third party.
– Loss or damage to vehicles licensed for road use.
Type of Machinery and/or Plant:
Cranes, Trucks, drillings machines, crushers, Generators, iron scaffolding, forklifts, transformers, mixers, pumps, compressors & welding machines.