Engineering Insurance

Engineering Insurance is designed to provide comprehensive protection against risks associated with engineering-related activities. It safeguards ongoing construction and installation projects, machinery, and equipment from various perils that may occur during operation or development.

The National Insurance Corporation (NIC) offers a range of Engineering Insurance products tailored to meet the needs of contractors, engineers, and businesses involved in technical and industrial projects.

Engineering Insurance Products Offered by NIC:

1. Contractors All Risks (CAR): Provides coverage for construction projects such as buildings, roads, and bridges. The policy may also extend to cover risks during the transportation of construction materials.
2. Contractors Plant and Machinery (CPM): Covers construction equipment and tools against external damages resulting from various causes, whether the machinery is working, at rest, or being dismantled for maintenance.
3. Erection All Risks (EAR): Offers protection against loss or damage occurring during the installation or erection of machinery or equipment in factories, offices, or industrial plants. It also covers associated civil engineering works.
4. Machinery Breakdown Insurance (MBI): Insures machinery, mechanical equipment, and plant against accidental breakdown while in operation, at rest, or undergoing maintenance.
5. Loss of Profit Following Machinery Breakdown (MLOP): Covers actual loss of profit and fixed expenses resulting from business interruption caused by insured machinery breakdown.
6. Deterioration of Stock Insurance: Protects perishable stock or goods stored in cold storage from deterioration due to a breakdown or material damage to refrigeration machinery.
7. Electronic Equipment Insurance (EEQ): Provides comprehensive coverage for sudden and unforeseen physical loss or damage to electronic equipment such as computers, servers, and communication systems.

Why Choose NIC’s Engineering Insurance?

NIC offers specialized coverage backed by expert risk assessment and responsive claims handling, ensuring your technical projects and equipment are protected throughout their lifecycle.