Engineering Insurance
Engineering Insurances: Provides protection against risks that may be encountered during the construction and assembly processes of projects.
Construction All Risk Insurance: Construction all risk insurance provides comprehensive protection against various risks that may occur in construction projects. This insurance covers damages, accidents, natural disasters and other unexpected events that may occur during construction. Why Should You Have It Done? Construction projects involve various risks and uncertainties. Construction all risk insurance covers damages and costs that may occur during the project process, reduces the financial risks you may encounter in the project and ensures that the construction is completed smoothly.
Installation All Risk Insurance: Assembly all risk insurance provides protection against various risks for assembly work carried out in engineering projects. This insurance covers damages, accidents and malfunctions that may occur during assembly. Why Should You Have It Done? The assembly phase is a critical part of engineering projects, and various risks and potential problems can arise during this process. Assembly all risk insurance covers damages and costs that may occur during assembly, ensuring that the project process is completed safely and effectively.
GENERAL CONDITIONS OF CONSTRUCTION INSURANCE
This insurance covers any loss or damage to the values constituting the subject matter, during the guarantee period, while they are at the construction site, during the construction period, due to an unknown and sudden reason, other than the exceptions in the general/special conditions of this policy. It is essential that the insurance amount shown in the policy (including customs, taxes, duties and charges, if any, and transportation and labor costs) is equal to the final project value to be reached at the end of the project. The insurance amount cannot be less than the contract price updated with the relevant current year prices each year (including the survey increases made until that time, if any) for the works subject to tender. In addition, if insurance is made, the insurance amounts of the machinery, tools and equipment used for the construction, temporary construction sheds and auxiliary structures cannot be less than the current market values. In the event of an increase in the values constituting the insurance amount shown in the policy, the insured is responsible for notifying the insurer in writing within 5 days at the latest when he/she learns of this increase, but before any damage occurs. In order for any value increase to be considered as insured during the insurance period, the written consent of the insurer is required. Premium adjustment is made in proportion to the increase in the insurance amount. If the value increases are not accepted by the insurer, the provisions of the first danger insurance apply to this insurance.
GENERAL CONDITIONS OF ASSEMBLY INSURANCE
This insurance covers any loss or damage to the assets it is about, during the guarantee period, while they are in the assembly area, due to an unexpected and sudden reason, excluding the exceptions in the general/special conditions included in the policy.
PROJECT INSURANCE QUESTION FORMS
Construction / Assembly Insurance Clauses (Endorsements)
Construction/Erection Insurance endorsements are special provisions added to the insurance policy that expand or limit the coverage of certain risks. These endorsements can provide coverage for additional risks that may be encountered during construction or erection projects, such as theft, natural disaster, strike, or provide additional protection for errors that may occur during the post-project maintenance period. This allows the policy to be customized to the needs and risk situations of the project.
CPM INSURANCE
(Contractors' Plant and Machinery)
Construction Equipment Insurance
- Strike, Lockout, Turmoil, Civil Protests, Terror Clause
- Clause on Coverage of Transportation Expenses, Overtime and Holiday Wages and Salaries by Serial Vehicles
- Air Freight Expenses Coverage
- Internal Fire, Chemical Explosion and Direct Lightning Coverage
- Travel Expense Coverage for Technical Staff
- Physical Explosion Coverage
- Extended Additional Coverage for Moving Equipment
- Lubricating and Cooling Equipment Coverage
- Coverage for Overflow and Leakage from Tanks and Barrels
- Strike, Lockout, Turmoil, Civil Protests, Terror Clause
- Physical Explosion Clause
- Moving Equipment Extended Additional Coverage Clause
- Clause on Coverage of Transportation Expenses, Overtime and Holiday Wages and Salaries by Serial Vehicles
Air Freight Expenses Clause - Technical Staff Travel Expenses Clause
- Inflation Clause
- Revision of Sum of Insurance and Premium Adjustment Clause
- Serial Damages Clause
- Movable and Immovable Properties Subject to Property in the Surrounding Area and Third Party Liability Clause
Flue Gas Explosion Exception Clause in Boilers - Movable Machinery Theft Coverage Clause
- Clause on Transportation of Work Machines and Mobile Machinery and/or Mobile Equipment
- Driver and Operator License Clause
- Internal Fire, Chemical Explosion and Direct Lightning Coverage Clause
- Internal Combustion Engine Explosion and Hydrogen Cooled Generator Explosion Coverage Clause
- Overflow and Leakage Coverage Clause from Tanks and Barrels
- Mud Coverage Clause Due to Flooding
- Underground Machinery and Equipment Coverage
- Submersible Pumps Coverage Clause
- Industrial Furnaces and Boilers Internal Walling and Fire Bricks Coverage Clause
- Lubricating and Cooling Equipment Coverage Clause
- Transmission Belts and Chains Coverage
- Energy Carrying Wires and Non-Electricity Cables Coverage Clause
- Clause on the Guarantee of Bulbs Without Flags Used in Large Area Lighting Similar to Construction Sites
- Depreciation Value Difference Adjustment Guarantee Clause as a Result of Winding of Electric Motors, Generators and Transformer Coils
- Clause on Insurance for Depreciation Applications as a Result of Repair in Internal Combustion Engines (Gas and Diesel)
- Amortization Adjustment Method Clause for Hot Combustion Ducts in Gas Turbines
- Platen/Table Press Coverage Annual Maintenance Conditions Clause
- Maintenance Coverage for Steam, Water and Gas Turbines and Turbogenerator Groups
Boiler Maintenance and Expertise Guarantee Clause - Pollution Removal Guarantee
- Guarantee of Pressure Vessels for Reactors
- Nuclear Fuel Cover Clause
- Insured Machinery Electronic Parts Maintenance Works Coverage Clause
- Earthquake
- Strike, Lockout, Turmoil, Civil commotion, Terror
- Information Environment
- Rising Business Costs
- Travel Expenses of Technical Staff
- Freight Transportation Costs, Overtime and Holiday Fees and Increases
- Air Freight Costs
- Portable Devices
- Probes
- Earthquake Clause
- Strike, Lockout, Turmoil, Civil Protests, Terror Clause
- Travel Expenses of Technical Staff
- Increased Cost of Work
- Clause on Freight Transport, Overtime and Holiday Wages and Increases
- Information Environment Clause
- Clause Regarding Portable Devices
- Clause regarding probes used in medical devices
- Coverage Clause Regarding Valves and Tubes (For Medical Devices)
- Coverage Clause Regarding Valves and Tubes (Excluding Medical Devices)
- Revision of Sum of Insurance and Premium Adjustment
- Air Freight Expenses Clause
- Serial Damages Clause
- Underinsurance Clause
- Selenium Drum Clause Used in Photocopiers
- Internal Breakage Clause
- Lithotriper Exception
- Nuclear Magnetic Resonance Units Warranty Provision
- X-Ray films Warranty Clause
The insurer shall not be liable for any damages arising from sudden and unexpected causes, in short: a) Operating accidents, b) Defective model, manufacturing, assembly, material, mold, casting and workmanship, c) Lubrication defects, d) Short circuit, spark, voltage surge and insulation failure as a result of direct effect of electrical energy and indirect effects of atmospheric electricity, e) Clogging, entry of foreign substances, f) Fragments resulting from centrifugal force, g) Water deficiency in steam boilers and steam containers, h) Water hammer, sudden overheating or cooling, i) Crushing, tearing, wrinkling etc. due to low pressure in closed containers. j) It covers the repair and replacement costs required for material losses and damages resulting from deformations, j) Storm and hurricane, frost or the movement of thawing ice, k) Negligence, fault, error, carelessness or sabotage of the operating personnel or third parties, l) Other cases not excluded. It provides replaceable parts such as drills, scissors, knives, saws, steel or metal pencils or cutting tools and equipment, matrices and molds, hot rolling mill rolls in rolling mills, templates, models, picture rolls, grinders, crushers, mixers, sieves and sieves, ropes, chains, transport bands and belts and parts that are customary to be replaced or renewed at certain intervals such as coal brushes and lamps (excluding electrical insulation materials and insulation oils).
a) Negligence, fault, error, carelessness or sabotage of the operating personnel or third parties,
b) Theft or attempted theft in the premises where the insured assets are located,
c) Faulty design and materials,
d) Effects of short circuit, high voltage and induction current,
e) Fire, lightning, explosions of all kinds and the extinguishing, demolition and rescue operations carried out due to these,
f) From roasting, darkening, smoke and soot,
g) Natural disasters such as storms, floods, landslides, and landslides, excluding earthquakes,
h) Water and humidity effects and corrosion damage resulting from these,
i) It covers the repair costs and replacement costs required for material losses and damages arising from other non-exempt situations.
With this insurance, the amount of "loss of profit" (reduction in "gross profit") resulting from the partial or complete cessation or interruption of the "commercial activity" as a result of breakage damages in the machinery and installations used in the conduct of the "commercial activity" (details of which are described in the Policy) is compensated within the framework of the "Definitions", "Special Conditions" and "time exemptions" specified in the policy.
Coverage is provided up to the insurance amount specified in the policy.
In order for the Insurer to make payment under this policy; the machinery and equipment used by the Insured while carrying out his/her “commercial activity” must be insured under a valid and effective machinery breakdown insurance contract issued by the same Insurer, specifying the brand, model and serial number.
For each item listed in the policy, the amount of compensation is calculated, provided that it does not exceed the amount shown opposite that item and the sum insured is not increased to the previous amount (not exceeding the total sum insured cumulatively).
