Coverage
- The Policy covers for sudden and unforeseen physical loss occurring whilst the Machinery is working or at rest, being dismantled, moved or re-erected for the purpose of cleaning, inspection, repair or installation in another position within the Situation.
- The Insurers will indemnify the Insured for material damage unforeseen and accidentally occurred for machinery due to insured risks, except risks excluded in the wording.
Exclusions
This Insurance does not cover for:
- Damage due to fire, direct lightning, explosion or natural catastrophes,
- Breakdown due to the imposition of abnormal conditions directly or indirectly resulting from testing, intentional overloading or experiments,
- Loss or damage for which a supplier, contractor or repairer is responsible either by law or under contract,
- Damage due to faults or defects known to the Insured or any of his responsible employees at the time the contract was arranged and not disclosed to the Insurers,
- Loss or damage as a direct consequence of the continual influence of operation (eg wear and tear, cavitation, erosion, corrosion, rust, boiler, scale),
- Consequential loss or liability of any kind or description, any payments over and above the indemnity for material damage as provided herein.
The above is a brief summary of the product. For more details, click here or contact MSIG Insurance (Vietnam) Co., Ltd
