Tiếng Việt
Constructor’s Plant & Machinery (CPM) Insurance
Keep your site moving. CPM protects owned or hired-in equipment—cranes, excavators, loaders, concrete pumps, generators, scaffolding, and more—against sudden, unforeseen physical loss or damage at work, at rest, or during dismantling/overhaul, so accidents don’t stall your project.
Target clients
- Project owners.
- Main/EPC contractors.
- Plant owners or hirers in civil works, infrastructure, mining, utilities, manufacturing plants, and logistics yards.
Core protections
- Accidental damage to plant and machinery from external causes: overturning, collision, impact, fire/explosion, lightning, storm/flood, landslip, and theft/robbery.
- Cover applies on-site and within the declared operating area; includes equipment while idle or stored.
- Reinstatement/repair costs, debris removal, and professional fees (as specified).
Add-on protections
- Mechanical/Electrical Breakdown (internal failure) for selected items.
- Hired-in plant liability and continuing hire charges after a loss.
- Third-party liability for injury or property damage arising from plant operations.
- Inland transit between sites, off-site storage, and overnight parking risks.
- Strike, riot & civil commotion; flood depth/underground works; accessories/spares/tools; new-for-old (reinstatement value) basis; waiver of subrogation and cross-liability where required.
Results you can expect
- Minimize downtime and keep schedules on track.
- Protect cash flow from high repair/replacement costs.
- Satisfy lender/lease and contract conditions.
- Demonstrate robust risk management to principals and auditors.
Vietnam Legal Requirements
CPM insurance itself is not universally compulsory. However, related covers are mandatory for certain projects—e.g., construction works insurance during the build, contractors’ third-party liability, and worker cover at construction sites—depending on project type and scale.
