The MBD policy coverages:
• Unforeseen and sudden physical damages to the insured machinery by
• Any cause not specifically excluded
• Whilst in the specified premises,
• Necessitating its immediate repair or replacement.
The MBD insurance also covers loss or damage due to fire, in insured electrical machineries, originating from within such insured machinery and resultant fire damage to such machinery only,. The Standard Fire & Special Perils Policy specifically excludes this risk.
For loss or damage occasioned by spread of fire, so originated within electrical machinery, to surrounding property, cover is available by “Oriental’s Standard Fire and Special Perils Policy.
Thereby, the following major electrical and mechanical breakdowns risks, faced by plant and machinery, are covered by this policy:
• Short circuiting, excess voltage & electrical arcing
• Faulty design, faulty material and faulty casting (manifesting after warranty period)
• Abnormal operating conditions
• Carelessness and lack of skill in the operation and maintenance of machinery
• Entry of foreign bodies
• Falling, Impact, Collision etc
• Bursting or disruption of turbines, compressors, cylinders of steam engines, hydraulic cylinders or fly wheels or other apparatus subject to centrifugal force, internal pressure.