Boilers and Pressure vessels are critical to the manufacturing process. Even a small damage can cause these to explode or collapse. The impact from such events could assume catastrophic proportions, both in terms of the lives that it can affect and the financial losses that it can cause. The Reliance Boiler and Pressure Plant Insurance Policy covers all such risks and ensures that if such an unfortunate event occurs, your business is back to normal as soon as possible.
The policy provides coverage against
- Property damage and personal injury due to damaged boilers and pressure vessels, caused solely as a result of explosion and collapse (other than fire).
Policy can be extended to cover:
- Damage due to explosion and collapse of pressure plant during its normal course of working -
- To surrounding property
- To property held by the insured
Liability of the insured at law on account of :
- Death of or bodily injury to any person (other than a person under a contract of service or apprenticeship with the Insured sustaining death or bodily injury, which arises out of and in the course of employment with the Insured)
- Damage to property not belonging to the insured, nor held in trust or on commission, nor for which he is responsible
- When caused by and solely due to explosion or collapse of any other boiler or pressure plant
This policy does not cover damage due to:
- Fire and related perils
- War and nuclear perils
- Overload experiments / tests imposing abnormal conditions
- Gradually developing defects not necessitating stoppage
- Normal wear and tear, corrosion not leading to explosion / collapse.
- Willful act / negligence
- Loss for which manufacturer is responsible
- Pre-existing defects and faults
- Consequential losses
