Technical risk insurance as an important element for the operation of many manufacturing companies

In the December issue of Foundry magazine we talked about about the frequent occurrence of certain damages in the foundry or engineering industry and how it is advisable to protect yourself with well-chosen insurance against potential losses.

Damages caused by the human factor, for example to work in progress, material handling or machine operation, are becoming more and more common. This may also be due to a lack of skilled workers and occasionally damage may occur due to failures in the supply of a medium (electricity, gas, cooling water) or a melt leak from the equipment. For this reason, it is a good idea to consider possible technical risk insurance, so-called machinery insurance, electronics insurance, mechanical and electronic interruption insurance and insurance for losses caused by spoilage.

What is covered by machinery risk insurance?

Machinery risk insurance basically covers design fault, material defect, overpressure of steam, gas, liquid or pressure, lack of water in boilers or generators, unbalance or rupture by centrifugal force.

Machinery insurance is designed as ALL RISKS insurance, so it includes coverage for all risks not explicitly excluded, regardless of whether the machinery is stationary or mobile. Read more in the attached article.

If you are interested in more information, please contact:

Václav Rais, Broking Manager

Mobile: +420 703 473 358

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