Importance of Laboratory Electronic Equipment Insurance
Modern
laboratories are equipped with highly sophisticated and costly instruments like
HPLC’s, GC’s, LC – MS, GC – MS, AAS, ICP – MS, ICP – OES and HPTLC. Besides
these instruments laboratories also install a network of IT servers and
terminals for integrating laboratory activities and networking with clients.
When any electronic equipment stalls, operations come to a standstill leading
to pecuniary losses and goodwill among clients. Laboratory Equipment Insurance
policy helps to hedge against such risks. You can hire another piece of
equipment until the stalled piece gets repaired and the insurer agrees to bear
the hiring expenses.
Protection
available
The policy
protects the lab when its electronic equipment breaks down or sustains damage.
It can be invoked when a fortuitous peril leads to the said breakdown or
damage, subject to certain exclusions. As a result, the lab does not have to
spend heavily to restore the damaged equipment to its original condition.
Features
of the policy :
- Covers material damage to the
equipment
- Covers external data media too,
the data stored therein included
- Covers any escalation in working
cost, occasioned by material damage
Caveats
to note while buying the policy
The policy
does not protect the lab from the risk of consequential losses, wear and tear
caused to the equipment by atmospheric conditions and aesthetic defects. This
is in addition to the usual caveats that keep out perils like war, nuclear
perils and wilful negligence.
Add-on
covers
Fortunately
add-on covers are available in respect of the following:
- Hike in sum insured
- Express freight
- Holiday and overtime rates of
wages
- Air freight
- Property that surrounds the lab
- Third party liability
- Additional customs duty
- Terrorism
Points to
remember while furnishing the sum insured:
The lab
will do well to remember the following while computing the sum insured:
- In respect of equipment, its
replacement cost, including freight, dues and customs duties, if any, and
erection costs should be reckoned.
- In respect of data media, the
expenses to be incurred for restoring the insured external data media
should be reckoned
- In respect of working cost
escalation arising from material damage to the equipment, rentals payable
for the substitute equipment to continue data processing for the specified
indemnity period, including personnel and transportation charges should be
reckoned.
Please do
share your experiences in case you have ever claimed such insurance relief and
offer your valued comments.
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. However, you can also invest in commodity and stock market to earn a high profit with the help of tips of our advisory company. You can visit us at: http://commodityonlinetips.in/
ReplyDeleteInsurance is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. It is a means of protection from financial loss. However, you can also you can also earn a high profit by trading in commodity and stock market with the help of our advisory company. You can check us out at: www.100mcxtips.in
ReplyDeleteIt is my first visit to your blog, and I am very impressed with the articles that you serve. Give adequate knowledge for me. Thank you for sharing useful material. I will be back for the more great post. handling equipment
ReplyDeleteLaboratory Instruments of Harvesto are of such high quality that you can use them without any problem for over 10 years. Also, the after sales service provided by the company for their lab equipments, lab instruments, soil testing kits, ph meters and spectrophotometer is excellent and best in the industry.
ReplyDeleteBelow you will understand what is important, the idea provides one of the links with an exciting site: F&I admin solutions
ReplyDeleteI would recommend my profile is important to me, I invite you to discuss this topic. F&I admin solutions
ReplyDeleteGreat blog that help us to know the importance of Insurance of electrical equipment, Requirement of electrical parts deal with Muskaan Power
ReplyDeleteTo know the importance of Insurance of electrical equipment, Read this blog post. Having any kind of Requirement of Servo Controlled Voltage Stabilizer Manufacturers deal with MPIL.
ReplyDeleteMultiple Chemical Sensitivity [a.k.a Idiopathic Environmental Intolerance (IEI), 20th Century Disease Syndrome, Total Allergy Syndrome, Immune System Dysregulation, and Chemically Acquired Immunodeficiency Syndrome] refers to an unusually severe sensitivity or allergy-like reaction to a variety of pollutants such as Volatile Organic Compounds (VOC's), perfumes, smoke, petrol, diesel, solvents, chemicals in general, and can sometimes include sensitivity to pollen, house dust mites (HDM's), pet fur, and pet dander.The mechanism of the cause of MCS is unknown and its processes are currently not fully understood; however, it tends to occur in people with a tendency to allergies or if allergies run in the family.Management of MCS is mainly by avoiding the sensitising agents, which trigger symptoms caluanie muelear oxidize pasteurize
ReplyDeleteThere are a couple of interesting points soon enough in this posting but I don’t determine if I see these center to heart. You can find some validity but Let me take hold opinion until I investigate it further. Good write-up , thanks so we want much more! Put into FeedBurner at the same time คาสิโนà¸à¸à¸™à¹„ลน์
ReplyDelete