Comprehensive machinery insurance offers wide and comprehensive protection against property damage and loss of profits for an entire plant and machinery in operation including other property like buildings, stock, goods in process, etc. This new policy is designed to grant cover for entire plants where engineering risks are prevailing, in contrast to industrial all risks covers where the fire exposure and extended perils are of more importance.

CMI is an all risks accident and loss of profits insurance covering any unforeseen and sudden physical loss or damage to the insured plant, necessitating its repair or replacement.

Scope of Cover

Loss or damage covered under Section I of this insurance includes the classical scope of cover under the machinery insurance and extended further to grant protection for plant and machinery mainly against

• Fire, lightning, chemical explosion
• Earthquake, inundation, flood
• Any other cause not specifically excluded

The sum insured should always represent the new replacement value of the property insured.

Section II of CMI comprises the business interruption cover, which provides protection against loss of gross profit and increased cost of working in case the business is interrupted or interfered with as a consequence of loss or damage indemnifiable under Section I.