Overview
Engineering insurance plays a critical role in supporting industrial development, infrastructure projects, manufacturing operations, energy facilities, and modern technological environments. As industries become increasingly dependent on sophisticated machinery, equipment, and engineering systems, the need for specialised insurance solutions to manage operational, construction, installation, and equipment-related risks continues to grow.
This programme provides a comprehensive introduction to Engineering Insurance and examines the principal classes of engineering insurance business. Participants will explore the principles, scope of cover, policy structures, underwriting considerations, risk assessment techniques, claims management practices, and risk engineering concepts associated with engineering insurance operations.
The programme also examines specialised engineering insurance products including Contractors All Risks (CAR), Erection All Risks (EAR), Machinery Breakdown (MB), Boiler and Pressure Vessel Insurance (B&PV), Deterioration of Stock Insurance, Loss of Profits Following Machinery Breakdown Insurance, and Electronic Equipment Insurance. Participants will develop an understanding of how these products support industrial operations, construction activities, manufacturing facilities, and technology-dependent businesses.
Learning Outcomes
Upon successful completion of this programme, you will be able to:
- Explain the principles, structure, and importance of Engineering Insurance within modern insurance markets;
- Describe the scope of cover, policy conditions, exclusions, and applications of major engineering insurance products;
- Analyse engineering risks associated with construction projects, machinery, equipment, industrial facilities, and technological systems;
- Apply underwriting principles and risk assessment techniques relevant to engineering insurance business;
- Evaluate risk management, loss prevention, and risk engineering measures used to reduce engineering loss exposures;
- Explain claims management procedures and indemnity principles applicable to engineering insurance policies; and
- Assess the role of specialised engineering insurance solutions in supporting industrial development, infrastructure projects, and business continuity.
Course Outline
- 2.1: Coverage
- 2.2: Sudden and Unforeseen Physical Loss or Damage
- 3.1: Machinery Breakdown (MB)
- 3.2: Boiler & Pressure Vessel (B&PV)
- 4.1: Deterioration of Stock (DOS)
- 4.2: Loss of Profits (LOP) following Machinery Breakdown
- 4.3: Electronic Equipment Insurance (EEI)
- 5.1: Underwriters' Evaluation
- 6.1: Role of Adjusters
- 6.2: Appointing Specialists – Forensic Accountants
- 6.3: Adjustment Examples
- 6.4: Application of Legal Principles
Price: US$275
Course Features
- Modules 6
- Duration 5 Weeks
- Content Type Text & media
- Assessment Yes
- Pass Percentage 70%
- Certificate Yes
