The Insurance Institute of London has published another of its advanced study group reports for insurance practitioners.
Insuring Industrial and Process Machinery took five years to produce under the leadership of Stephen Coward, an underwriting manager at Copenhagen Re, and it provides a practical guide to key risks in the market.
The study guide covers such key heavy industries as power generation – including nuclear, and oil and gas and iron and steel production – as well as more refined plant, for example microchip factories.
It includes real claims experience ranging from out of the ordinary cases to near-miss accidents.
Coward said the guide was as suitable for reference by insurance professionals, such as underwriters, loss adjusters, as by students, plant operators and engineers.
The City of London's Worshipful Company of Insurers has agreed to fully fund the publishing costs of the study guide.