1 2 3 4 5 7 8 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
C. Ca Cb Cc Cd Ce Cf Cg Ch Ci Cl Cm Co Cp Cr Cs Cu Cy
Co- Coa Cob Cod Coe Cog Coh Coi Col Com Con Coo Cop Cor Cos Cou Cov

Comprehensive Project Insurance (CPI) for Engineering Insurance

Major projects and investments present great opportunities but also harbor risks. Introducing Comprehensive Project Insurance (CPI) covering Construction risks such as bridges, tunnels and dams and Erection risks such as complex industrial facilities and power stations which have to be commissioned and undergo a performance test before take over by the client. The Policy is usually a tailor made policy designed to cater to the insurance requirement of each insured separately and appropriately. Usually it is reinsurance driven cover. Section IA Covers Project Works – complete industrial facilities, machinery, construction project above or below ground, preparatory work at construction site, any material to be used in the construction work stored at the site. Additional covers are for loss or damage from faulty manufacture. Section 1B is Marine Cargo Insurance taken out for transport of major items particularly from abroad. The period of insurance covers the construction and erection period including testing and defects liability phase. Sum insured to be the new replacement value. Section 2 covers third party liability including cross liability. Section 3 covers Delay in Startup. Section 4 is for Marine Cargo.

Compression for Damages in Transit

In ship’s holds, cargo pallets and unit loads are stacked usually 4 to 5 tiers high and other break-bulk cargo to a above is proportional to the number of tiers of storage. For example, in a 5 tier stow of 1 ton pallets, the lowest to a static pressure of 4 tons. In conditions of increased gravitational forces when a ship pitches in heavy sea, the goods are subjected to varying compressive forces. These dynamic forces are particularly marked in the fore and aft parts of the vessel, where they can result in an increased pressure of up to 100% on the cargo. Thus, the lowest pallet referred to in the example, could be subjected, in its voyage to a compressive force of 8-10 tons, depending on the situation.

Compromise

Under Medicare Secondary Payer guidelines, this is a settlement of differences by mutual consent or adjustment of matters in dispute by mutual concession; a negotiated settlement between parties who are in essentially equal bargaining positions, wherein neither party admits nor concedes that he or she is entitled to less than he or she desires, but accepts less to end the dispute.