Plant and Equipment Insurance | · Business name needs to match. If it does not match, request a further certificate of insurance from the contractor noting the name of MCPL’s contracting partner. · We can accept ‘PTY LTD’ or ‘(Pty) Ltd’ in lieu of ‘Proprietary Limited’ when this is the only difference in the company name between what is shown on company compliance paperwork verse what is shown in onsite. · Must display Mobile Plant and Equipment as the type · Must also include a schedule of items covered and how much they are insured for (usually in table format) - typically market or replacement value. · The minimum amount is about the Third-Party Liability not the total sum insured. If the document does not have the Third-Party Liability coverage displayed it is not acceptable. | · Issue Date = Start of coverage date listed on policy · Expiry Date = Coverage end date listed on policy (If the policy is paid on a monthly
basis the expiry will be set when the next payment is due) · Insurer = Insurer will be listed in policy content · Policy Number = as specified on the policy · Item = Plant and Machinery or ISR (Industrial Special Risk) · Amount Description = not required · Amount = not required - No minimum or maximum amount required |
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