| Covers unforeseen
and sudden (accidental) damage to machinery (e.g. generators,
elevators, production machinery) from causes such as defects
in casting and material, faulty design, faults at workshop
or in erection, bad workmanship, lack of skill, carelessness,
shortage of water in boilers, physical explosion, tearing
apart on account of centrifugal force, short-circuit or other
causes not specifically excluded under the Policy,
Cover shall apply to the items after successful completion
of their performance acceptance tests, whether they are
at work or at rest or being dismantled for the purpose of
cleaning over or overhauling, or in the course of the aforesaid
operations themselves, or when being shifted within the
premises, or subsequent re-erection.
This policy is usually coupled with a Fire policy, as perils
that can be covered under the Fire policy are excluded herein.
Standard Exclusions
- Loss or damage to exchangeable tools
- Loss or damage due to fire, direct lightning, chemical
explosion (except flue gas explosions of boilers), aircraft,
natural perils
- Loss or damage for which manufacturer is responsible
- Loss or damage caused by any faults existing at the time
of commencement of the Policy
- Loss or damage arising out of the willful act or gross
negligence
- War, invasion, riot, strikes and civil commotion and terrorism
- Nuclear reaction
- Wear and tear
- Consequential loss
- Political risks etc.
|
