Plant All Risk (PAR) Insurance covers the plant and machinery which a contractor needs to facilitate execution of a Contractors All Risk or an Erection All Risk project.
In most cases, these plants work under extreme environmental conditions of e.g. dust, hard terrain, slippery or wet conditions etc.and are therefore exposed to severe wear and tear as well as highly hazardous working conditions.
This policy is designed to cover any damage to a plant or equipment while working or at rest, or while being dismantled for the purpose of cleaning, repairing or overhauling. In the same vein, boiler and pressure vessels can be covered under a separate but similar policy.
This policy is designed to cover any loss or damage that could result while any computer and or equipment insured is working or at rest.
The cover under this policy also extends to include loss or damage to external data media such as diskettes and tapes containing processed information while such are kept within the premises.
Any increase in cost of working as a result of damage to the main computer equipment is also covered and compensation is provided for alternative means of carrying on operation.
With payment of an additional premium, this policy can be extended to cover the risk of theft.