Engineering Insurance
product.information
Description
Why Engineering Insurance?
Civil and industrial projects are always accompanied by risks and challenges that can disrupt the implementation process or cause heavy losses. Therefore, using engineering insurance as a reliable shield to protect investments, properties, equipment, and potential liabilities is essential.
Melli Insurance Company, with a deep understanding of the needs of engineering projects, offers a range of specialized insurance policies that comprehensively cover your projects from the start phase to final delivery.
توضیحات تخصصی محصول
Benefits of Engineering Insurance
- Protection of projects, machinery, equipment, and manpower
- Coverage of losses caused by unforeseen events such as fire, flood, earthquake, explosion, theft, and equipment breakdown
- Possibility to cover construction, installation, and maintenance periods
- Quick and regular compensation of losses
- Civil liability coverage against third parties
Types of engineering insurance policies offered:
- Contractors All Risks Insurance (CAR)
- Comprehensive coverage for projects under construction, from site handover until the end of construction and delivery to the employer.
- Erection All Risks Insurance (EAR)
- Specifically for installation projects of machinery and industrial equipment during installation and performance testing periods.
- Machinery Breakdown Insurance (MB)
- For industrial and mechanical equipment in operation, against sudden breakdowns.
- Boiler and Pressure Vessel Explosion Insurance (BO)
- Cold Storage Goods Deterioration Insurance (LOP)
- Contractor's Plant and Machinery Insurance (CPM)
- Especially for heavy machinery and construction equipment during work and stoppage.
- Electronic Equipment Insurance (EEI)
- Protection for sensitive equipment such as computers, industrial control and monitoring systems.
- Risks covered by engineering insurance policies
- Natural hazards such as earthquake, flood, storm, landslide, and volcano
- Fire, explosion, and collapse of structures
- Theft and unexpected physical damages
- Damages during the maintenance period and technical inspections
- Civil liability to third parties
- Damage to temporary works, machinery, and construction equipment
- Required documents for insurance issuance
- Insurance application form with precise responses to all questions
- Copy of contractor agreement or project assignment
- List of insured items (permanent works, temporary works, equipment)
- Project maps and technical specifications
- Physical progress schedule
- Item pricing invoices
- Any instructions or technical information needed for risk assessment and pricing
- Required documents for claims
- Immediate notification of the incident to the insurance company
- Completion of claim request form
- Submission of the insurance policy or its number
- Full cooperation with the insurance expert during inspection and review
- Submission of documents related to repairs and restoration
- Project supervisor confirmation (if required)
- Providing documentary photos of the incident location
- Signing the loss settlement receipt
- No sale or transfer of damaged items without the consent of the insurance company
Conclusion
Engineering insurance not only guarantees the security of your projects, but also by providing peace of mind to employers and contractors, boosts the speed and quality of implementation. At Melli Insurance Company, we are by your side so you can carry out your projects with greater confidence.
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National Insurance Company
- Iraq, Baghdad, Rusafa District, Al-Khilani Square, Al-Jumhuriya Street, National Insurance Company
National Insurance Company
The National Insurance Company is a completely state-owned entity with financial and administrative independence.
Established in 1950 under Law No. 56, the National Insurance Company transformed its structure and operational framework in 1997, as per Law No. 22. It is now considered one of the largest insurance companies in the Arab world. According to Cabinet Resolution No. 481, the company's capital in 2021 totaled 60 billion Iraqi dinars.
The National Insurance Company offers a wide range of products in insurance, reinsurance, and investment, alongside providing professional advisory services in diverse areas, including life insurance, marine and aviation insurance, engineering and agricultural insurance, motor insurance, fire and accident insurance, and marine insurance, to its clients.
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Our Vision:
To promote a sound insurance culture in society, increase public awareness about the importance of insurance in reducing the social problems caused by accidents and risks, and support policyholders in restoring their economic and health status to pre-incident levels. -
Our Mission:
As a leading company in the Iraqi insurance industry, we are committed to maintaining the stability and security of the national economy by providing assurance and security to investors and businesses, thereby strengthening the job market and accelerating the country's economic growth. -
Our Goals:
To contribute to sustainable economic development through extensive insurance services, purposeful production, and investment activities. By providing comprehensive insurance coverage, we protect individuals, assets, and national wealth, thus supporting the sustainability and growth of the country's economy.
Our Activities
- General insurance including marine, fire and accident, motor, agricultural, and engineering insurance
- Life insurance
- Professional insurance consultancy services
- Investments in real estate, deposits, stocks, and real estate-related loans
Partnerships
The National Insurance Company actively collaborates with 42 local companies and several reputable regional companies, including Bahrain National Holding Company, Arab Reinsurance Company in Beirut, Arab Insurance Institute in Damascus, and the Arab War Risks Insurance Syndicate in Bahrain.
Investments
The company's investments include real estate, deposits, and money transfers, as well as participation in the capital of mixed and private Iraqi and Arab companies, and the granting of real estate-related loans.
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