Capacity – CPE

  • Capacity – Policy Limit US$ 15,000,000 Latam and US$ 13,000,000 World Wide
  • Territorial Scope – World Wide ex. USA
  • Wordings – Forms Standard MRE CPE Form including XSL Speciality
  • Product: Contractors’ Plant all Risks
  • Coverages: All Risk inc. TPL, Machinery Breakdown, Sabotage & Terrorism, and I.C.O.W. as standard
  • 3 year leasing/rental policies, rental and stand-alone electronic equipment polices

Appetite / Segments

  1. Preferred: All types of mobile plant and equipment – from a small generator through to mining trucks and up to larger tower cranes.
  2. Operations: General Contractors’, Port Operators, Leasing & Rental companies, Banking and Dealership schemes, Mining (above and below ground), Forestry & Agricultural risks.
  3. Challenge: Large Tunnel Boring Machine’s
  4. Excluded : Off-shore, Oil & Gas exploration, single item risks.

Underwriting Guidelines

Section A: LATAM

  • USD15,000,000 (and/or currency equivalent) each and every loss
  • General Equipment USD4,000,000 single item for our share
  • Cranes USD3,000,000 single item for our share
  • Surface Mining USD2,500,000 single item for our share
  • Sabotage and Terrorism sub-limit: USD2,500,000 each and every loss and USD5,000,000 in the annual aggregate for defined Terrorism incidents.
  • No greater than the sum insured / No automatic reinstatement applies.

Section B: Worldwide e. USA

  • USD13,000,000 (and/or currency equivalent) each and every loss
  • General Equipment: USD4,000,000 single item for our share
  • Cranes: USD3,000,000 single item for our share
  • Surface Mining: USD2,500,000 single item for our share
  • Sabotage and Terrorism sub-limit: USD2,500,000 each and every loss and USD5,000,000 in the annual aggregate for defined Terrorism incidents.
  • No greater than the sum insured / No automatic reinstatement applies.

Other Excluded Class(es) of Business & Coverage(s)

  • Construction All Risks
  • Erection All Risks
  • Oil and Gas Drilling Rigs
  • Off shore equipment
  • Single item risks
  • Large tunnel boring machines
  • Prototype Machinery
  • Standalone tower crane schedules
  • Tools and accessories — unless incidental (less than 10% of schedule values)
  • Over Water or Equipment working on barges unless the attached clause is used.
  • Cargo – except where such cargo is equipment owned, hires or leased by the insured and declared on the schedule.
  • Loss or Damage to replaceable parts; except where forming part of a larger loss.
  • Waterborne vessels

Territorial Limitations

  • Venezuelan domiciled business on a case by case basis
  • Other embargoed territories

Contact – XS Contractors, Plant & Equipment