At AVA, we pride ourselves on being a one-stop solutions provider by offering a comprehensive spectrum of insurance products. They are grouped into 2 main categories, namely:
Boiler Explosion Insurance (BEI)
A Boiler Explosion Insurance policy protects the insured against damage arising out of explosion or implosion (collapse) of any boiler or pressure vessels.
Some of the common risks covered are:
- Explosion and collapse
- Damage to the boiler and / or pressure plants
- Damage to surrounding property of the insured, owned in trust or held in commission
- Legal Liability on account of death or bodily injury to third party
- Damage to the property of the third party
This policy covers unforeseen and sudden physical loss of or damage to insured property by any cause or misfortune other than those specially excluded in a manner necessitating repair or replacement. This is a pure “Breakdown” policy and is useful in protecting against adverse consequences arising out of a breakdown to key and crucial machineries.
Electrical & Electronic Equipment insurance (EEI)
This type of insurance covers repair or replacement costs to electronic equipment due to electronic, electrical or mechanical breakdown. It caters to the insurance needs of businesses for their computer and electronic equipment (such as bio-medical equipment, X-ray equipment, Audio/Video equipment, micro processor equipment etc.) and can be tailored to suit their requirements.
The coverage can be extended to include:
- The cost of reconstructing/restoring damaged data media
- The increased costs of working in order to maintain business operations
- Moveable equipment such as laptops, mobile phone, blackberries or other PDAs etc.
Deterioration of stock in cold storage
Deterioration of Stock in Cold Storage Insurance is taken in conjunction with a Machinery Breakdown cover and will only respond if a Machinery Breakdown policy is in force.
The policy indemnifies the Insured in respect of loss or damage caused by deterioration of the abovementioned goods resulting from any unforeseen and sudden physical loss of or damage to the machinery. The machinery is required to be specified in the list of machineres insured attached to the questionnaire and proposal of this policy and indemnifiable under the Machinery Breakdown Policy in force.
It covers against the risk of loss or damage to the perishable stock by deterioration or decay due to:
- Rise or fall in temperature resulting from breakdown of refrigeration plant and equipment
- Damage to the said plant and equipment by an incidental extraneous cause
- Failure of electric supply