This policy is designed to cover your machinery and equipment for the running of your business against physical loss or damage against unforeseen and sudden physical loss or damage from any cause other than those specifically excluded.
The coverage is against unforeseen physical loss or damage and includes losses arising from the perils of:
• Damage due to defective workmanship and material, lack of skill Negligence, Malicious act, or Human error.
• Act of God, Flood, Cyclone, Storm, Tempest
• Burglary & Theft
• Impact Damage
• Collision, overturning, and falling
• Any other sudden, unforeseen, accidental damages not explicitly excluded
Basis of the sum insured:
The sum insured has to represent the new replacement value of the machine including customs duty, freight, and cost of erection & testing
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3rd Floor, No. 131, W A D Ramanayake Mawatha, Colombo 02
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