Boiler & Pressure Plant Machinery (BPP) Insurance

The Boiler and Pressure Plant (BPP) Insurance policy covers physical loss or damage to all types of Boilers and/or other pressure plants, where steam is being generated. This policy covers physical loss or damage to boilers and/or other pressure plants against unforeseen and sudden physical loss of or damage due to the explosion or collapse of the insured items.

Key Benefits

• Damage to the boiler and/or pressure plant due to explosion or collapse
• Damage to your other property arising out of an above accident on payment of additional premium.
• Legal liability towards damage to third-party property and/or personal injury arising out of an above accident on payment of additional premium

Coverage

This policy covers boiler & pressure vessels owned by you and located at your premises against explosion, implosion and collapse leading to:

• Damage to the boilers & pressure vessels
• Damage to surrounding property, up to fixed limits, arising due to explosion & collapse of the pressure plant during the normal course of work
• Third-party legal liability, up to set limits, arising due to:
  • Death or bodily injury to third parties
  • Damage to property of third parties (not held in trust or on commission) caused by and solely due to explosion or collapse occurring during ordinary working.

Add on Covers

• Express freight
• Airfreight
• Owners surrounding property
• Third-party liability
• Additional custom duty
• Escalation Clause

Exclusions

• Fire, lightning, inundation, flood, storm, earthquake, subsidence, landslide, chemical explosion, burglary and theft, impact by land borne/waterborne craft
• Wear and tear, faults or defects existing at the time of commencement of insurance which ought to have been or were known to you, faults or defect for which the supplier is responsible either by law or under contract
• War or warlike operations, nuclear reaction, radiation or radioactive contamination
• Loss, damage and/or liability resulting from overload experiments or tests.
• Failure of individual tubes in boilers of the water tube locomotive or other multi-tubular types, in superheaters or economizers
• Willful acts or gross negligence on the part of you or your representatives
• Loss of use of the Insured's plant or property or any other consequential loss incurred by the Insured.
• Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts

Claim Process

In the event of loss, the following are immediate actions to be taken
Intimate the insurer the occurrence of loss, submit a full statement in writing of the claim, provide the nature and extent of loss and also the estimate of loss. Any delay in intimation might jeopardize the claim as the insurer may express an inability in accepting liability of the loss/damage.

• To take all steps to reduce and minimize the extent of loss/damage and liability.
• The proximate cause of the loss and assess the type/extent and whether it is within the scope of the policy.
• To extend full co-operation to the insurer and the surveyor appointed for completion of the survey work and proper assessment of the loss
• Produce all such records and proof as may be required by the surveyor or the insurer for arriving at the extent of loss and the liability under the policy
• Provide documents such as claim form, Claim bill, copy of policy etc.
• Keep the damaged property under the safe custody until advised by the surveyor/insurer regarding its disposal
• Identification of the subject-matter insured