This insurance cover is for sudden and unforeseen damage or losses which physically affect the client's assets due to fire, theft, lightning, explosion, failing aircraft, smoke, soot, corrosive gases, water and humidity, failure of air conditioning, short circuit and other electrical causes, design, manufacturing, assembly and erection faults, defects in casting and material, workshop errors, faulty operation, malicious acts of workmen, employees, third parties, burglary, frost etc.
The policy can be extended to include strikes, riots and civil commotion, overtime and express freight expenses, airfreight, earthquakes, hurricanes, cyclones and typhoons, floods, inundation, storms or tempest, air-conditioning, cover for additional expenditure incurred for re-programming and transport, cover for additional expenditure for the restoration of IT systems, etc.
The assets covered include most electrical and electronic systems such as information technology systems, electronic medical equipment, computers and communication equipment, research and laboratory equipment, traffic and navigation systems, mobile and portable equipment.
