All Risks
The Equipment All Risks Insurance may provide safety when the equipment used in an industrial or civil construction operation, for example, are a significant part of a company’s assets.
It covers losses from external causes and enables the flexibility of considering other coverages: unforeseen events such as floods and theft, occurring in the most varied utilizations of machinery and equipment, may be included in this insurance. It was made to protect mobile and stationary non-agricultural equipment used in construction sites, civil construction, industries, hospitals, and offices.
About the Insurance
Assured:
Equipment-owning companies.
Coverage:
Material damages caused to equipment owned by the Assured company.
Beneficiary:
Legal entity designated to receive the Indemnification in case of Claim.
Covered Risks:
Fire, Theft, Electrical damages, and Rental loss and/or payment.
Indemnification:
Pecuniary value the Insurance Company is contractually obliged to pay to the Beneficiary, provided the claim is covered in the insurance policy.
Claim:
The occurrence of a risk covered by the policy, causing losses to the Assured; when not included in the insurance contract, it is referred as risk or non-covered occurrence.
SUSEP Circular No 621/2021 – Art. 5: The insurance proposal and contract conditions shall inform, in accordance with the remaining requirements included in current regulation, the following:
I – the acceptance of the insurance proposal is subject to risk analysis;
II – product registration is automatic, and does not indicate approval nor
recommendation from Susep; and
III – the policyholder may verify the status of both the insurance broker’s registration and the insurer’s registration at the website www.susep.gov.br.
§ 2: The information in the item II above shall be inserted, necessarily, in each and every marketing and advertising material used.
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