Business Interruption – FCA test case

For information about the outcome of the FCA’s test case into how insurance policies respond to business interruption claims as a result of Covid-19 please visit this page.

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Expertise to protect your business

With over a century of technical underwriting expertise in all aspects of machinery cover, our Machinery Insurance policy has been specifically designed to protect companies in case of unforeseen machine damage, breakdown and business interruption.

We understand that companies need to deliver products and services to their customers on time, and that an unexpected interruption due to the breakdown of vital equipment or machinery can have significant ramifications for all parties. That’s why we aim to have the machinery back up and running as soon as possible.

Along with our highly experienced underwriters, we offer straightforward, comprehensive and flexible policy wording – providing clients with peace of mind that their livelihood will be protected in the event of a loss.

What we cover

Our policy covers all installed machinery – or specified plant and equipment – at specific locations for sudden and unforeseen damage, including:

  •  Pressure explosion
  • Collapse
  • Breakdown
  • Accidental damage
  • Toppling

We insure:

  • Boiler and pressure plant
  • Cranes and lifting machinery
  • Lifts and hoists
  • Electrical and mechanical plant

Additional benefits

  • Damage covered from operator error or omission – we cover damage arising from operator error or omission during normal operations of machinery.
  • Property value covered – in the event of an insured loss, we cover customers for the value of the property destroyed or the cost of repair.
  • All-risks cover – our policy dovetails to a company’s property covers, providing a blanket all-risks cover.
  • Business interruption cover – in the event that the operation of a business is interrupted by an insured event, we will pay the profit or revenue lost as a direct result.

Standard extensions

Machinery cover also contains standard extensions, including:

  • Temporary removal – perils covered are extended to include fire and theft while the property is temporarily removed for repair, maintenance, overhaul or inspection.
  • Additional property – cover provided in respect of any additional installed plant of a similar nature and capacity to that covered under the policy.
  • Temporary repairs – we will pay the reasonable cost of affecting the temporary repair (up to a limit of £10,000).
  • Pressure explosion damage to owned property – cover against pressure explosion damage to surrounding property belonging to the customer or for which they are responsible.
  • Cost of replacement equipment – we will pay the cost of hiring in substitute plant until repairs have been carried out on damaged property.

Excellent service, fast response

Telephone Magenta

Dedicated phone lines

It’s always easy to get in touch with us when you need.

Clock Magenta

24-hour response

Quotation enquiries receive a response within 24 hours.

Checkbox Magenta

Bespoke solutions

Our expertise means we can tailor cover to suit the specific needs of each business.

A fast, effective claims service

Get a fast response

With a notification within three hours, and an action plan within 48 hours, we put next steps and agreed progress updates in place, fast.

Stay involved

We work closely with you throughout the life of a claim. We ensure claims handling is tailored appropriately at all stages.

Know who to talk to

One person manages your claim from start to finish – so they know exactly what’s going on, and you know who to call.

Get it settled

We always focus on settling claims as quickly and fairly as possible.

Claims information for construction, engineering and renewables

Fast and efficient claims handling when you need it most – for the construction, engineering and renewable energy sector.

    • Fast, efficient service and impartial advice to agree the best course of action for each claim.
    • Face-to-face, on-site assessments carried out by specialist construction adjusters.
    • Our LAS team has instant access to RSA underwriting teams and policy details, enabling them to make quick claim decisions and authorise prompt claims payments to customers to help with cash flow for their business.

     

    • Claims above a certain size and complexity need a different, often project managed approach, so our large and major loss claims handling team is made up of our most experienced claims specialists.
    • The team have the skills to manage major events and protect your customers’ financial and reputational interests. 
    • We work with you and your customers to plan for serious losses with potential high impact to their business.
    • Our technical claims specialists will consider a potential high impact loss scenario, discuss how the policy may respond in the situation, what action we as an insurer may take, and if necessary what risk controls could be taken to prevent the incident ever taking place.

Business appetite

  • Examples we target and are most competitive in include:

    • Breweries, distilleries, bottling and soft drink manufacture
    • Food canning, packing, bakeries and dairies
    • Textile and clothing manufacture
    • Dyers and finishers
    • Laundries and dry cleaners
    • Electrical and light engineering
    • Printing
    • Plastics manufacture
    • Offices, shops and leisure centres
  • Risks we don’t write – or write only rarely as a small part of a wider portfolio – include:

    • Prototypical/unproven technology and machinery

Downloads and documents

To learn more, view and download our Engineering Machinery Wording.

Contact us for a quote

To find out more and get a quote, speak to our underwriting specialist in your region. They’ll be more than happy to answer any questions and can provide you with fast decisions.

Richard Hampson

Underwriting Leader, South

T 07768 143 084 richard.z.hampson@uk.rsagroup.com

Iain Geekie

Underwriting Leader, North

T 07771 975 081 iain.geekie@uk.rsagroup.com

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