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Types of Insurance

  1. Faulty material, design, construction, erection
  2. Vibration, maladjustments, malalignment
  3. Defective lubrication, loosening of parts, molecular fatigue, self heating, explosion due to internal pressure, implosion due to external pressure or internal vacuum, abnormal stress, centrifugal force
  4. Excessive electric pressure, failure of insulation, short circuit, open circuit, or arching including damage by internal fire so set up
  5. Failure of connected machinery or protective devices
  6. Lack of skill, carelessness or malice of persons, whether insured employee or not
  7. Falling, impact, collision and the like.

Two types of intellectual property insurance coverage are available

  1. The first protects if you are sued for infringement and it funds a legal defense
  2. The second and more unique coverage is called a 'pursuit' policy. It helps pay the legal expenses of suing an alleged infringer