MACHINERY BREAKDOWN (MB) INSURANCE
- OVERVIEW
- INSURANCE COVERAGE
- EXCLUSION
- PRODUCT DOCUMENT
- CLAIMS GUIDELINE
- OTHER PRODUCTS
Machinery Breakdown (MB) insurance
product overview
- Machinery Breakdown Insurance (MB) covers physical damage to machinery and equipment such as: CNC machinery, conveyor belt, power generator, transformer, air-compressed pump, pipeline, cooling system, hoist, crane…
- In fact, machinery and equipment may suffer unforeseen damage during its normal course of operation, maintenance or even while at rest. The cause of loss could be due to human, technical or operational reasons but in case such loss is not covered by a normal property insurance policy, a more specific insurance such as MB insurance could be required
INSURANCE COVERAGE
main coverage
TMIV’s MB insurance provides cover for various causes:
- Defects in casting materials
- Faulty design
- Faults at workshop or in erection
- Bad workmanship
- Lack of skill, carelessness
- Short circuit
- … Or from any other cause not specifically excluded in the policy.
extended coverage
EXCLUSION
Some typical MB exclusions are:
- Exchangeable tools: moulds, dies etc.
- Fire, theft, natural hazards…
- Known faults or defects
- War, nuclear reaction
- Wear and tear, rustn
- Others as specified in the policy