Engineering Claims
Scope of Cover
All Risk Insurance Claim
All Risk Policy is a product designed to cover your valuable movable equipment like laptops, mobile phones, handy-cams, jewellers, and articles of intrinsic value like paintings and the like which do not remain confined to your own home and are exposed not only to natural perils but also to perils such as theft, snatching, etc. Barring a few perils like Earthquake, War etc., the Policy offers very comprehensive protection against many perils including any accident or misfortune not expressly excluded.
Electronic Equipment Insurance Claim
This is issued on All Risk Cover basis to protect Desktop Computers, Bio-medical equipment, X-ray equipment, Audio/Video equipment, micro-processor equipment, etc. External Data Media, Increased cost of working in the event of damage.This policy is location specific therefore location of the risk is very important factor.
Machinery Breakdown(MBD) Insurance
Machinery Insurance provides insurance protection to both rotating as well as static equipment while at work or at rest against mechanical and electrical breakdown and also human error and negligence. Policy covers sudden and unforeseen loss or physical damage, necessitating its repair or replacement and resulting from Fortuitous working accidents, Tearing apart due to centrifugal forces, Shortage of water in steam boilers or pressure vessels, Overpressure or implosion, Short circuit, Defects or faults in design, materials or manufacturing, faulty erection etc.
Contractor’s Plant & Machinery (CPM) Insurance
This policy provides cover for all different types of machinery used for handing material or construction. The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy. The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.
Contractor’s All Risk (CAR) Insurance
This policy provides financial protection to the Civil Engineering Contractors in the event of an accident to the civil engineering works under construction. In case the policy period exceeds 12 months, the premium can be paid in quarterly instalments with the first instalment being more by 5% and the last instalment being paid 6 months before expiry of the policy.
The policy has two sections:
1 :
Section I-Material Damage-covering physical loss, damage or destruction of the property insured by any cause, other than those specifically excluded in the policy.
2 :
Section II-Third Party Liability-covering the legal liability falling on the insured contractor as a result of bodily injury or property damage belonging to a third party.
Erection All Risk (EAR) Insurance
This is recommended for Contractors and Firms commissioned to carry out the work, including subcontractors. This is an ‘All Risk’ policy covering sudden and unforeseen physical damage to projects under erection insured by any cause or peril not specifically excluded under the policy and resulting during the course of :
- Erection
- Storage
- Testing
- Commissioning
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All Risk Insurance Claim Steps :
1 :
Intimate the loss to Insurer immediately
2 :
The appointed surveyor can visit the site at the earliest so as to certify the proof of loss.
3 :
Invite OEM/Turn Key Project personnel to inspect at the spot and submit preliminary report.
4 :
Arrange for detailed estimate of damaged items,
5 :
Submit the Log book/ maintenance record.
6 :
Claim additional custom duty, air freight, overtime wages etc. if incurred and covered.
7 :
Submit proof for Replacement/Reinstatement
8 :
Lodge an FIR on theft/burglary losses at Insured premise/place.
9 :
You may obtain expert opinion to ascertain precise cause of loss with suggestion to prevent and minimize if repeated losses reported on similar manner.
10 :
Submit the final claim bill along with supports like reinstatement/repair bills.
Electronic Equipment Insurance Claim Process Steps :
1 :
Intimate the loss to Insurer immediately
2 :
The appointed surveyor can visit the site at the earliest so as to certify the proof of loss.
3 :
Invite OEM/Turn Key Project personnel to inspect at the spot and submit preliminary report.
4 :
Arrange for detailed estimate of damaged items,
5 :
Submit the Log book/ maintenance record.
6 :
Claim additional custom duty, air freight, overtime wages etc. if incurred and covered.
7 :
Submit proof for Replacement/Reinstatement
8 :
Lodge an FIR on theft/burglary losses at Insured premise/place.
9 :
You may obtain expert opinion to ascertain precise cause of loss with suggestion to prevent t and minimize if repeated losses reported on similar manner.
10 :
Submit the final claim bill along with supports like reinstatement/repair bills.
Machinery Breakdown(MBD) Insurance Claim Steps :
1 :
Intimate the loss to Insurer immediately
2 :
The appointed surveyor can visit the site at the earliest so as to certify the proof of loss.
3 :
Invite OEM/Turn Key Project personnel to inspect at the spot and submit preliminary report.
4 :
Arrange for detailed estimate of damaged items,
Submit the Log book/ maintenance record.
5 :
Claim additional custom duty, air freight, overtime wages etc. if incurred and covered.
6 :
Submit proof for Replacement/Reinstatement
7 :
You may obtain expert opinion to ascertain precise cause of loss with suggestion to prevent and minimize if repeated losses reported on similar manner.
8 :
Submit the final claim bill along with supports like reinstatement/repair bills.
Contractor’s Plant & Machinery (CPM) Insurance Claim Steps :
1 :
Intimate the loss to Insurer immediately
2 :
The appointed surveyor can visit the site at the earliest so as to certify the proof of loss.
3 :
Policies do provide condition stipulating time limit within which notification of claim is to be done.
4 :
Invite OEM/Turn Key Project personnel to inspect at the spot and submit preliminary report.
5 :
Arrange for a joint meeting between Surveyor and OEM representative to arrive at consensus on cause of loss and extent of damage.
6 :
Arrange for detailed estimate of damaged items,
7 :
Appeal for an on account/interim payment from Insurer for high value claims to mitigate financial strain in repair/reinstating the property.
8 :
Submit the Log book/ maintenance record.
9 :
Intimate Insurer/Surveyor of the completion of reinstatement/replacement
10 :
You may obtain expert opinion to ascertain precise cause of loss with suggestion to prevent t and minimize if repeated losses reported on similar manner.
11 :
Submit the final claim bill along with supports like reinstatement/repair bills.
Contractor’s All Risk (CAR) Insurance Claim Steps :
1 :
Take necessary steps to minimise the loss.
2 :
Inform insurance company immediately.
3 :
Extend full cooperation to the surveyor deputed by the company.
4 :
Submit duly filled in claim form along with necessary documents to substantiate the financial loss suffered as a result of the accident.
Erection All Risk (EAR) Claim Steps :
1 :
Take necessary steps to minimize the loss.
2 :
Inform insurance company immediately.
3 :
Extend full cooperation to the surveyor deputed by the company.
4 :
Submit duly filled in claim form along with necessary documents to substantiate the financial loss suffered as a result of the accident.
All Risk Insurance Claim Documents required :
1 :
Intimation to Insurance Company.
2 :
Completing the Claim Form.
3 :
Detailed estimate of damaged items.
4 :
For Fire claims, report from the Fire Brigade.
5 :
For Strike/Riot/theft/Burglary/snatching/ accidental loss FIR from the Police authorities.
6 :
For Loss of items whilst travel, FIR with the police together with lodging a claim on the carrier.
7 :
For accidental damage due to transportation, Claim on the carriers must be lodged.
8 :
For accidental damage to Mobile Phones, Laptop, Cameras and other sophisticated items report of damage from the repairers together with the cause of damage.
9 :
Obtaining Final Investigation report and Non Traceable Certificate from Police.
10 :
Submission of letter of indemnity to Insurance Company where right of recovery exist.
11 :
Any other document the Insurer may require.
Electronic Equipment Insurance Claim Documents required :
1 :
Intimation to Insurance Company.
2 :
Completing the Claim Form.
3 :
Detailed estimate of damaged items.
4 :
For Fire claims, report from the Fire Brigade.
5 :
For Strike/Riot/theft/Burglary/snatching/ accidental loss FIR from the Police authorities.
6 :
For Loss of items whilst travel, FIR with the police together with lodging a claim on the carrier.
7 :
For accidental damage due to transportation, Claim on the carriers must be lodged.
8 :
For accidental damage to Mobile Phones, Laptop, Cameras and other sophisticated items report of damage from the repairers together with the cause of damage.
9 :
In the event for Total Loss claims a certificate from the Manufacturer or Supplier that the said equipment cannot be repaired together with the cause of the loss/damage to the equipment in question.
10 :
Original Invoice copy of the damaged equipment together with cost of transportation and Import Duty paid particulars in case of imported equipment.
11 :
In case of Imported second hand machines, the Invoice copy and import documents.
13 :
In case of repair to imported equipment, then the current value of parts to be imported together with Import costs.
14 :
Copy of Asset register wherein the damaged item is mentioned with serial number.
15 :
In case of damage to external data media the cost of replacing the media together with reproducing lost information.
16 :
Obtaining Final Investigation report and Non Traceable Certificate from Police.
17 :
Submission of letter of indemnity to Insurance Company where right of recovery exist
In case of Increased Cost of working claims then the cost of substitute equipment and the time within which the damaged equipment will be repaired or replaced
18 :
Spot photograph of the damaged equipment when the loss occurs.
19 :
After completion of repairs a certificate from the repairer that the same has been duly repaired and is functioning according to standards/specifications.
20 :
In the case of Total Loss claims a certificate from the Manufacturer/Supplier that the replaced item is functioning according to standards/specifications.
21 :
Copy of Equipment maintenance register if Last date of Maintenance carried out, spares replaced, to show frequency of maintenance.
22 :
Any other document the Insurer may require.
Machinery Breakdown(MBD) Insurance Document required :
1 :
Intimation to Insurance Company.
2 :
Duly filled Claim Form.
3 :
Detailed estimate of damaged items.
4 :
For Fire claims, report from the Fire Brigade.
5 :
For Strike/Riot/theft/Burglary/snatching/ accidental loss FIR from the Police authorities.
6 :
In the event for Total Loss claims a certificate from the Manufacturer or Supplier that the said equipment cannot be repaired together with the cause of the loss/damage to the equipment in question.
7 :
Original Invoice copy of the damaged equipment together with cost of transportation and Import Duty paid particulars in case of imported equipment.
8 :
In case of Imported second hand machines, the Invoice copy and import documents.
9 :
In case of repair to imported equipment, then the current value of parts to be imported together with Import costs.
10 :
Equipment lost or damaged along with the serial number in the Assets register.
11 :
Original Invoice.
12 :
New replacement value (Quotation from supplier).
13 :
In case of repairs then repairers estimate and whether it is temporary or permanent repair.
14 :
Name of Financier and financial interest on the damaged or lost equipment.
15 :
If equipment is under warranty then copy of such warranty.
16 :
In case of Refrigerators or Cold storage then details of products stored which are damaged along with item wise details.
17 :
Date of installation of machinery and erection reports including test reports.
18 :
Any other document the Insurer may require.
Contractor’s Plant & Machinery (CPM) Insurance Document required :
1 :
Completed Claim Form.
2 :
Claim Bill.
3 :
Copy of Maintenance Engineer’s report.
4 :
Analysis Report of Manufacturer’s on critical component/parts on damages sustained with opinion of reparability or otherwise.
5 :
Quotations, Invoices, Bills, Payment Details.
6 :
Survey Report along with photographs.
Contractor’s All Risk (CAR) Insurance Document required :
1 :
Claim Intimation.
2 :
Claim Form duly filled and signed.
3 :
Estimate of loss with details of property affected and corresponding values.
4 :
Fire Brigade Report.
5 :
Fire fighting expenses invoices.
6 :
Meteorological/other relevant reports for claims out of natural calamities.
7 :
Police Report if required, eg. Riot/malicious damage claims or any loss arising out of suspicious circumstance etc.
8 :
Police FIR for Strike/Riot/theft/Burglary/snatching/ accidental loss.
Photographs taken during/immediately after loss.
9 :
Replacement /Labor bills/Vouchers (under replacement value policies).
10 :
NOC from the Bank/FI for settlement to the Insured.
Erection All Risk (EAR) Insurance Documents required :
1 :
Claim Intimation.
2 :
Claim Form duly filled and signed.
3 :
Estimate of loss with details of property affected and corresponding values.
4 :
Fire Brigade Report.
5 :
Fire fighting expenses invoices.
6 :
Meteorological/other relevant reports for claims out of natural calamities.
7 :
Police Report if required, eg. Riot/malicious damage claims or any loss arising out of suspicious circumstance etc.
8 :
Police FIR for Strike/Riot/theft/Burglary/snatching/ accidental loss.
9 :
Photographs taken during/immediately after loss.
10 :
Replacement /Labor bills/Vouchers (under replacement value policies).
11 :
NOC from the Bank/FI for settlement to the Insured.
General intimation form
At the time of an unforeseen event when you need immediate assistance and support you can contact your insurer through below mentioned modes.
Call Center
Claims Service Representative of Insurer (CSR) shall help you to intimate claim fast and smooth for you. Please feel free to call them on stated phone number mentioned Here round the 365 days.
Walk In
If you wish to intimate your claim in person, Please feel free to visit your policy issuing Insurer Branch Mon- Fri 10:00 AM to 05:00 PM (Except for National Holidays). Please refer Here for more information.
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