Machinery insurance
Machinery insurance has always been instrumental in promoting the acceptance of new technologies, and there remains a direct correlation between the economic climate and the acceptance of new technologies.
Apart from surging technological progress, an adverse competitive environment also compels industry players to tighten production and testing schedules so that new machines and equipment are often installed on site without prior comprehensive testing. Insurers may also be asked to provide cover for machines and equipment featuring novel designs and new, unproven materials and processes.
This brochure is designed to assist underwriters in this challenging field of insurance by providing sound fundamentals before discussing specific technical details and typical problem areas of machinery insurance.
