Prudential Guarantee and Assurance, Inc. offers the most cost effective and comprehensive solution for the protection of your property against loss or damage while under construction and during installation of machine and equipment. With Prudential Guarantee and Assurance, Inc., you can build worry free.

Engineering Insurance covers all kinds of construction/installation of structures, machinery, equipment, systems and processes against loss, material damage and third party liability.

Types of Engineering Insurance:

  1. Contractors All Risks (CAR) / Erection All Risks (EAR) Insurance

Construction of buildings, installation of machinery, equipment, and systems insured under these lines are protected from all sudden and unforeseen loss or damage. Possible extensions to the CAR / EAR’s scope of coverage are:

  1. Damage to Construction Plant Machinery and Equipment
  2. Damage to Existing Property
  3. Third Party Liability for Death or Bodily Injury and Property Damage
  4. Removal of Debris
  5. Testing and Commissioning (for brand new equipment)
  1. Machinery Breakdown (MB) Insurance

Covers all types of industrial/commercial machinery such as boilers, generators, turbines, compressors, freezers, elevators, escalators and the like from sudden and unforeseen damages.

  1. Electronic Equipment Insurance (EEI)

It protects electronic data processing equipment (computers), including its peripherals, from all sudden and unforeseen loss or damage. This insurance product may also insure material damage cover (hardware), data media center (software; data media and the cost of restoration of lost information) and increased cost of working (additional expenditures in case of a loss or damage).

Possible extensions of cover under EEI:

  1. Mobile Equipment whilst within and outside the premises
  2. Earthquake, typhoon, flood and other convulsions of nature cover
  1. Property Floater Insurance

Covers mobile equipment/devices against all risks from external cause (excluding electrical and mechanical breakdown).

  1. Heavy equipment (Mobile Cranes, Bulldozer, Backhoe, Pay Loader, etc.), Test/Maintenance Devices, Power Tools, Laptops
  2. Boiler and Pressure Vessel Insurance covers damage to boiler or pressure vessel (other than by fire) caused by explosion or collapse.

Basic Underwriting Documents required for Engineering:

1.Contractor’s All Risk Insurance / Erection All Risk Insurance

  1. Contract Agreement / Purchase Order / Notice to Proceed / Letter of Award
  2. Bill of Quantities / Bill of Materials
  3. Bar Chart / S-Curve
  4. Site / Location Plan

2. Property Floater Insurance / Electronic Equipment Insurance / Machinery Breakdown / Boiler and Pressure Vessel Insurance

  1. Assured’s Name
  2. List of equipment to be insured (with specifications and amount)
  3. Usage of the equipment
  4. Location of risk

For inquiries, please call our Engineering Team at (02) 8894-0179 or send an e-mail to Mr. Raul Alejandrino at ralejandrino@prudentialguarantee.com or Mr. Arthur T. Esguerra at art.esguerra@prudentialguarantee.com