The widest form of material damage cover under engineering insurance policies. It includes breakdown risks, including electrical and mechanical breakdown, and accidental damage. In short the damage can be from internal or external causes.

Reinsurance treaty clause requiring or permitting termination of the contract in the event of a change in control of the ceding office, the insolvency of either party and certain other defined events.
***
A clause which automatically terminates the Reinsurance contract if either party becomes insolvent.