Property insurance

The assets can be covered under three basic types of insurance:

1. Property insurance is an extended "named perils" or "all risk" cover against fire, lightning, explosion, falling of aircraft, earthquake, natural perils for buildings, equipment, other fixed assets and stocks.

2. Machinery Breakdown Insurance for machinery and plant. This insurance covers the sudden, unpredictable damage or destruction, errors in design, material and casting defectives, insufficiency of water in boilers, dismantling by reason of centrifugal force, short circuit or other reasons, which aren't expressly excluded and make repairing or replacement of such property necessary.

3. Electronic Equipment Insurance (EEI) is an "all risk" cover recommended for all types of electronic equipment covering the risks of the property and machinery breakdown policies.

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