Comprehensive Machinery Insurance (CMI) — for Power Plants
End-to-end protection for generation assets. CMI combines property damage, machinery breakdown, and business interruption into one program—so failures or accidents don’t derail output, PPAs, or debt covenants.
Target clients
- Independent power producers
- Utilities
- O&M/EPC operators of thermal (coal, gas/CCGT, biomass, WtE), hydro, and large CHP plants
- Grid-connected captive plants in industry parks
Core protections
- Material damage to boilers, turbines, generators, transformers, switchyard/SBoP, cooling towers, fuel & ash handling, water/steam systems, control & protection, buildings, and critical spares from fire, explosion, NATCAT, impact, theft, etc.
- Machinery breakdown from sudden internal failures (mechanical/electrical/electronic), including vibration, fatigue, surge/short-circuit, lubrication failure, and operating error.
- Business Interruption: loss of gross profit/revenue and standing charges following insured property/MB events, plus increased cost of working to shorten downtime.
- Debris removal, expediting expenses, professional fees, testing after repair (as specified).
Add-on protections
- MLOP (MB-BI) by unit/Block; interdependency across units/trains; auxiliary transformers & GIS/Switchyard buy-ups.
- Boiler & Pressure Vessel, extended breakdown for large transformers, and EEI for DCS/SCADA.
- Transmission line & switchyard extensions, contingent BI from utilities/suppliers, and terrorism/NATCAT limit buy-ups.
- Marine cargo + erection cover for major overhauls, spare rotors, and critical-spares floaters.
- Third-Party/Public liability, environmental impairment (sudden/accidental), and lender/financier clauses.
Results you can expect
- Faster recovery from outages; protected EBITDA and cash flow.
- Stronger bankability and covenant compliance for project finance.
- Stable generation to meet PPA/dispatch commitments.
- A single, coordinated policy that closes gaps between Property, MB, and BI.
Vietnam Legal Requirements
CMI as a package is not compulsory by law. However, many power facilities fall under Compulsory Fire & Explosion insurance, and statutory inspection/certification of boilers/pressure systems is required. Lenders frequently require BI/MLOP limits sized to debt service.
Property & Casualty Insurance
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