Engineering Insurance 211012 PDF
Engineering Insurance 211012 PDF
Engineering Insurance 211012 PDF
INSURANCE
PRESENTED BY:
N. VAIDYANATHAN B.E(MECH),D.O.M.,M.I.E.,F.I.V.,F.I.I.I.S.L.A.,M.I.R.M(UK)
CHARTERED ENGINEER, INDUSTRIAL VALUER AND LOSS
ADJUSTOR, DIRECTOR, INDIAN SURVEYORS PVT LTD
CEO, ENCOUNSEL ENGINEERS
MUMBAI
ORIGIN OF ENGINEERING
INSURANCE
Engineering Insurance
Section 1: Introduction to Engineering
Insurance
Types of cover
Area of application
Underwriting factors to consider
MACHINERY A REVIEW
MACHINERY A REVIEW
INTERNAL COMBUSTION ENGINES
TYPES:
1. RECIPROCATING ENGINES BY GAS,
PETROL, DIESEL
2. TURBINE ENGINES= GAS TURBINES
3. JET ENGINES = JET ENGINES
=ROCKETS
MACHINERY A REVIEW
MACHINERY REVIEW
What Is A Boiler?
A boiler is defined as "a closed vessel in
which water or other liquid is heated,
steam or vapor is generated, steam is
superheated, or any combination thereof,
under pressure or vacuum, for use external
to itself, by the direct application of energy
from the combustion of fuels, from
electricity or nuclear energy."
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MACHINERY REVIEW
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MACHINERY REVIEW
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MACHINERY REVIEW
VULCANISERS
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VULCANISERS
MACHINERY REVIEW
AIR COMPRESSORS
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AIR COMPRESSORS
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MACHINERY REVIEW
EXCAVATORS
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EXCAVATORS
MACHINERY REVIEW
CHEMICAL PLANT
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CHEMICAL PLANT
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MACHINERY REVIEW
TOWER CRANES
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TOWER CRANES
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MACHINERY REVIEW
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MACHINERY REVIEW
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E. O. T. CRANES
MACHINERY REVIEW
BELT CONVEYORS
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BELT CONVEYORS
MACHINERY REVIEW
BUCKET ELEVATORS
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BUCKET ELEVATORS
JAW CRUSHERS
The Jaws in the machine
crushes the Lumps into
small pieces, mainly in
Cement, Steel plants
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MACHINERY REVIEW
REACTION KETTLES
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MACHINERY REVIEW
PRESSURE VESSELS
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PRESSURE VESSELS
SCRUBBERS
TO REMOVE DUST
AND OTHER
SUSPENDED AND
UNWANTED
PARTICLES IN THE
AIR
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MACHINERY REVIEW
PUMPS
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PUMPS
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MACHINERY A REVIEW
ELECTRICAL MACHINES
DIRECT CURRENT / ALTERNATING
CURRENT
ROTATING EQUIPMENTS:
ELECTRIC MOTORS/GENERATORS
STATIONERY EQUIPMENTS:
TRANSFORMERS/CAPACITORS/
SWITCH GEARS
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MACHINERY A REVIEW
ELECTRICAL MOTORS
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MACHINERY A REVIEW
DIESEL GENERATING SETS
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D. G. SETS
D.G.SETS
DG Set as a System
A diesel generating set should be considered as a
system since its successful operation depends on
the well-matched performance of the
components, namely:
a) The diesel engine and its accessories.
b) The AC Generator.
c) The control systems and switchgear.
d) The foundation and power house civil works.
e) The connected load with its own components
like heating, motor drives, lighting etc.
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MACHINERY A REVIEW
DIESEL GENERATING SETS
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MACHINERY REVIEW
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ENGINEERING INSURANCE
TRANSFORMERS
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ENGINEERING INSURANCE
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SWITCH GEAR
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MACHINERY REVIEW
INDUCTION FURNACES
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INDUCTION FURNACE
MACHINERY REVIEW
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MACHINERY REVIEW
BALL MILL
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BALL MILL
MACHINERY REVIEW
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MACHINERY REVIEW
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MACHINERY REVIEW
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MACHINERY REVIEW
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MACHINERY A REVIEW
MACHINERY A REVIEW
MACHINERY A REVIEW
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MACHINERY A REVIEW
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MACHINERY A REVIEW
MACHINERY A REVIEW
MACHINERY A REVIEW
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ENGINEERING INSURANCE
PROPOSAL FORM
INSPECTION BY INSURERS
ACCEPTANCE OF PROPOSAL
PERIOD OF INSURANCE
CLAIMS
TYPES OF POLICIES
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ENGINEERING INSURANCE
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ENGINEERING INSURANCE
TYPES OF POLICIES:
CONSTRUCTION PHASE POLICIES:
1.CONTRACTORS ALL RISK POLICY(CAR).
2.ERECTION ALL RISK & MARINE
ERECTION POLICY (EAR) ALSO KNOWN AS
STORAGE CUM ERECTION POLICY (SCE)
3.MARINE CUM ERECTION POLICY(MCE)
4.CONTRACT WORKS POLICY (CW)
5.ADVANCE LOSS OF PROFITS (ALOP) OR
DELAY IN STARTUP (DSU).
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ENGINEERING INSURANCE
TYPES OF POLICIES:
OPERATION PHASE POLICIES:
1.MACHINERY BREAKDOWN (MBD)
2.BOILER & PRESSURE PLANT (BPP)
3.MACHINERY LOSS OF PROFIT(MLOP)
4.CONTRACTORS PLANT &
MACHINE(CPM)
5.ELECTRONIC EQUIPMENT (EEI)
6.DETERIORATION OF STOCKS (DOS)
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ENGINEERING INSURANCE
INTEREST
ALOP
INSURERS
PROFITS
M.DAMAGE
PREMIUM
INVESTMENTS
INSURED
PREMIUM
FUNDERS
LOANS
PROJECT
INSURANCE
PROJECT
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MARINE
PLAN
TRANSIT
ONSITE STORAGE
PRE
COMMERCIAL
HANDLING
TRIALS DEBUG
TESTS
PRODUCTION
ERECTION
MAINTENANCE
INSURANCE PERIOD -MCE
SCHEDULED DATE
OF COMMENCEMENT
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ENGINEERING INSURANCE
FABRICATOR
LOCAL
SUPPLIER
INTERMEDIATE
STORAGE
IMPORTS
TRANSPORT
MARINE (IMPORTS)
MARINE (LOCAL)
MARINE LOP
SITE
PORT
INTERMEDIATE
OFFSITE
STORAGE
ADDITIONAL
TRANSIT
CONSTRUCTION
MCE
EAR (SCE)
CAR
TPL
CPM
ALOP
OPERATION
FIRE
FLOP
MB
BOILER
MLOP
EEI
CIVIL CONST
STORAGE
ERECTION
TESTING
COMMN.
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ENGINEERING INSURANCE
PURPOSE
ACCIDENT POLICY FOR PLANT, MACHINES
AND MECHANICAL EQUIPMENT.
INDEMNITY FOR SUDDEN AND UNEXPECTED
LOSS OR DAMAGE
THE COVER
ALL DAMAGE OF AN ACCIDENTAL NATURE
THAT IS NOT EXCLUDED.
AT WORK, REST, OR DURING MAINTENANCE
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PURPOSE
ACCIDENT POLICY FOR PLANT, MACHINES
AND MECHANICAL EQUIPMENT.
INDEMNITY FOR SUDDEN AND UNEXPECTED
LOSS OR DAMAGE
THE COVER
ALL DAMAGE OF AN ACCIDENTAL NATURE
THAT IS NOT EXCLUDED.
AT WORK, REST, OR DURING MAINTENANCE
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Sum Insured:
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Sum Insured:
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Material change
Alteration/modification/addition
Deletion, if any
Change in the operating conditions
Loss of Profit can be linked with the above policy
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PURPOSE
ENGINEERING INSURANCE
ENGINEERING INSURANCE
ENGINEERING INSURANCE
ENGINEERING INSURANCE
THE COVER
STANDING CHARGES,
INCREASED COST OF WORKING
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PURPOSE
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SUMMARY:
CONSTRUCTION PHASE:
CONTRACTORS ALL RISK POLICY(CAR)
ERECTION ALL RISK POLICY(EAR) OR STORAGE
CUM ERECTION (SCE)
MARINE CUM ERECTION (MCE)
CONTRACT WORKS (CW)
CONTRACTORS PLANT AND MACHINERY (CPM)
INVOLVING ERECTION MACHINERY, SUCH AS
EXCAVATORS, ROAD ROLLERS, CRANES ETC
ADVANCE LOSS OF PROFIT (ALOP)
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ENGINEERING INSURANCE
SUMMARY:CONTD..
OPERATIONAL PHASE:
MACHINERY BREAKDOWN (MBD)
BOILER & PRESSURE PLANT (BPP)
MACHINERY LOSS OF PROFIT
(MLOP)
ELECTRONIC EQUIPMENT
INSURANCE (EEI)
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RISK MANAGEMENT:
THE PRESERVATION OF ASSETS
AND EARNING POWER FROM LOSS
OR DESTRUCTION
RISK IDENTIFICATION
RISK EVALUATION OR ASSESSMENT
RISK MITIGATION
RISK CONTROL
RISK FINANCING
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NO- NO ACTION
NO, IT IS SIGNIFICANT
CAN IT BE PREVENTED?
NO
CAN IT BE AT LEAST MINIMISED?
COST ACCEPTABLE ?
NO - INSURE
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ANY QUESTIONS?
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THANK YOU
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