ENGINEERING INSURANCE

East West Insurance Company Limited established its Engineering Division in 1989 under the supervision and guidance of highly qualified and experienced professional Engineers. The Division since then is underwriting various classes of Engineering Policies.
Engineering Insurance is used by the Insurance Industry as a collective term to describe various types of policies for the protection of construction work as well as the erection and operational machineries. In addintion an important function of Engineering insurance, is the prevention and avoidance of accidents causing property damage and minimizing such losses if at all such events were beyond the control of human being.
The Engineering Insurance includes the following : An All Risks Insurance cover during the period of Construction, Erection and testing phases. I addition to this, Engineering Insurance also provide cover to projects in operational period through Machinery Breakdown Insurance, Loss of Profit following machinery breakdown and Machinery Guarantee Insurance.
The net premium income in this portfolio for the year 2007 is Rs. 19.767 million.