Engineering and Manufacturing
The machine that broke is the small half. What the stoppage cost is the large half, and that is a separate policy plenty of firms never bought.
What we see
- Machinery breakdown on production plant
- Fire and allied perils at the works
- Loss of profit while the line is down
- Product liability from what leaves the gate
Where these claims go wrong
two, specificallyThe machine is opened before it is seen
The service engineer arrives first, in good faith, and the cause of failure leaves the building in pieces. Cause is the entire argument in a breakdown claim.
Business interruption is claimed from memory
Lost output has to be recorded from the hour production stopped. Reconstructed months later it is rarely accepted in full.
Open these first
Machinery Breakdown Claim
A machine has failed electrically or mechanically and stopped production.
Fire Claim
A fire, explosion, lightning strike or impact loss at a business premises.
Liability Claim
A third party alleges injury, damage or loss caused by you or your product.
Before the renewalUnderinsurance is the commonest reduction in every one of these sectors. Three numbers will tell you where you stand.
Had one of these, and the file already going sideways?
Whoever placed your policy, and whatever stage the claim has reached.