Insured perils    

• damages and losses that occurred suddenly and unforeseen  due to defects in material or casting, faulty design, manufacturing or erection faults, poor workmanship
• lack of water in boilers, physical explosion which is not part of the normal technological process
• breakage as a result of centrifugal force, over speed and unbalance – only damage caused to the machine or equipment itself is covered
• short circuit
  
• lacking or insufficient lubrication
• self-heating, fatigue.

Perils not listed above are excluded from the basic cover.

Coverage extention

Some optional perils can be added. 

Sum Insured

It is determined by the insured and is equal to the actual value of the property as of the date of concluding the insurance.
The sum insured is calculated for each machine or equipment.
Period of the insurance The standard period of the insurance is 12 months.

Insurance premium

The premium is calculated on the basis of

• the type of machinery and equipment
• the risk assessment
•  the scope of the insurance coverage, etc.

Insurable items :

All types of electronic equipment and systems owned by companies, used for their intended purpose and normal exploitation, in compliance with the requirements of the manufacturer and the applicable legal requirements, including, but not limitted to:

• personal computers, servers, network equipment
• alarm systems, telephone exchanges and apparatus
• cash registers, ATMs
  
• air conditioning installations, radio equipment, antennas
  
• communication equipment
  
• studios for photography, sound recording, television
• industrial electronics, measuring equipment
  
• medical equipment
• copiers
• advertising facilities, etc.

Period of the insurance: 12 months

Insurance coverage

• Section A – material damage caused to the insured items, including the operating system.
• Section B – loss of data media, including information located on them.
• Section C – increased cost of working after an insurance event. The insurance indemnity shall not exceed the profit of the insured for the period of recovery from the damage.

Coverage extension

Depending on the risk assessment and requirements of the insured, the coverage may be extended with additional perils related to the specific subject of insurance.

Sum Insured

It is determined by the insured and is equal to the actual value of the property as of the date of concluding the insurance.
The sum insured is calculated for each electronic equipment.

Insurable items

Goods stored in cold storage/freezers at a certain temperature regime, and in certain cases – with a controlled atmosphere.

Insurance coverage

The coverage includes damages to the goods resulted from a sudden and uncontrolled rise in the temperature in the cold storage and / or a sudden and uncontrolled leakage of the refrigerant caused by an accident of the refrigeration equipment is covered.

Provided that the Insured has a unit or units ready for switching on, the capacity of which is sufficient to ensure the normal operation of the cold storage at full load, the additional risk of deterioration of stock as a result of power failure may be covered.

Sum Insured

The basis of valuation of the sum insured is the maximum market price of the goods that can be reached during the insurance period.

Period of the insurance

The period of the insurance is negotiable depending on the storage period of the goods.

Scope of insurance

Contract works performed under the insured project by a qualified contractor / contractors on the construction site.
The  policy holder is the contractor of the project. Subcontractors, the issuing Bank, the Principal, etc. can be added as additional Insureds.
The Policy covers the contractors of the insured activities.

Insurance coverage

The coverage is on All risk basis (exclusions are listed in the General Terms and Conditions) and is divided into two sections:

• Section I – material damage: the full value of the contract works is insured.
  Section I may additionally include: construction machinery, facilities and equipment, limit for removal of debris as a result of an insured event, etc. Extensions of the coverage are included under special conditions and  upon payment of additional insurance premium.
  

• Section II – third party liability: covers loss of or damage to property owned by third parties as well as third party bodily injury and / or non-material damage
  

Third parties are defined to be:

• Parties not involved in the performance of the insured activities.
  
• Existing or surrounding (property) buildings and facilities which are located on the construction site or in close proximity to it and may be damaged during the insured contract works are declared separately and insured, at the  policy holder’s request, under special terms and conditions.
  The insurance coverage can be extended or limited according to the contractor’s needs. The insurer has the right to restrict the coverdepending on the risk assessment.
  

Period of the insurance

It starts from the moment the construction site is handed over to the contractor and ends at the handover of the site to the Principal.