Engineering Insurance

general@rexinsure.com

26E Abdulrahman Okene Street, Victoria Island, Lagos

Contractors’ All Risk Insurance

It provides cover against the physical loss or damage to construction works being undertaken. The policy will pay for repair or replacement of the insured works following damage caused by an insured event. Contractors all risk insurance offers comprehensive and adequate protection against loss or damage in respect of the following

Contract works (permanent and temporary including materials to be incorporated).
Constructions Plants and equipment.
Third party claims in respect of property damage or bodily injury.

Engineering Insurance

Plant All Risk Insurance

This provides cover to the insured against any unforeseen and sudden physical loss or damage to the insured plants. Plant here may include: high capacity generating sets, cranes, boilers and pressure plants, electrical plant. The areas of coverage are material damage as a result of:

Fire, lightning, explosion.
Theft storm and tempest.
Malicious damage e.g. by mischievous persons.
Transit risks.
Impact – unlimited including those impact arising from breakdown.
Accidents arising out of dismantling and re-assembly.

Engineering Insurance

Erection All Risk Insurance

Erection all risks insurance covers losses arising out of the erection and installation of machinery, plant and steel structures, including physical damage to the project, equipment and machinery, and liability for third-party bodily injury or property damage arising out of these operations and during testing and commissioning (excluding prototypes).

ENGINEERING Insurance

Boiler and Pressure Vessels

This is a type of insurance that covers repairs and in some instance, the replacement of the home boiler. It can also cover other parts of the central heating system and even plumbing and electrics. The policy provides against:

Damage to boiler or other pressure vessel described.
Damage to other surrounding property belonging to the insured.
Liability of the insured on the insured on account of fatal or non-fatal injuries.

ENGINEERING Insurance

Electronic/Electrical Equipment

This provides cover against any damage to or loss of insured computer and other electronic equipment from causes such as Fire, Lightning, Explosion, Burglary, Theft, Water damage and other accidental causes. The policy may be extended to cover cost or reinstalling lost data, income loss or increased cost of working due to business interruption resulting from damage to the computer or electronic equipment.

ENGINEERING Insurance

Machinery Breakdown

This is an insurance cover for plant, machinery and mechanical equipment at work, at rest or during maintenance operations. It covers unforeseen and sudden physical loss of or damage to the insured item necessitating their repair or replacement. The insurance is against unforeseen and sudden damage to the insured machinery from such causes as:

Faulty material design construction or exception, vibration, maladjustment and misalignment.
Defective lubrication loosening of parts, abnormal stress.
Molecular fatigue.
Self-heating force.
Excessive electric pressure.

ENgineering Insurance

Computer All Risk

This insurance policy is designed for computers and its peripherals, i.e. data carrying material and air-conditioning plant, uninterrupted power systems and terminals. It provides compensation against losses resulting from physical damage or losses from fire & special perils, theft, malicious damage, accidental damage, water damage. The policy may be extended to cover cost or reinstalling lost data, income loss or increased cost of working due to business interruption resulting from damage to the computer or electronic equipment.