Engineering insurance and reinsurance
This is an overview of a complex and extremely interesting insurance branch.
The term "engineering insurance" is used by the insurance industry as a collective term to describe various types of policies for the protection of construction works as well as the erection and operation of machinery.
The publication examines the history of engineering insurance, non-renewable (one-off) and renewable covers – including the most common extensions of cover/special clauses – as well as engineering reinsurance basics.
It attempts to provide a basic introduction to engineering insurance and reinsurance and is intended for companies and underwriters who as yet have had no in-depth experience in this field.
