Annual Meetings-High Valued Contractors Equipment

Pdf Summary

The document discusses high-valued contractors' equipment covered by Zurich Services Corporation, including a wide range of machinery used in various projects such as drilling rigs, cranes, excavators, and more. It details the definition of contractors' equipment, what is included and excluded, and the policies that cover such equipment. The document also presents statistics on incurred losses and average claim values over a five-year period. Additionally, it provides insights into different loss scenarios like fracking, crane collapse, and flood, emphasizing risk management measures like training, maintenance, and emergency action plans. The text highlights key exposures such as fire, lightning, and theft, suggesting loss control techniques such as preventative maintenance programs and secure storage practices. It also touches on equipment valuation methods and state differences in determining actual cash value. The document concludes with contact information for Zurich Services and a disclaimer regarding the informational nature of the content.

Asset Caption

Presented by:
James Boileau, P. Eng., Construction Segment Director, Zurich Services Corp. and Phillip Moretti, Executive General Adjuster, Property Claims Group, Zurich NA

Keywords

contractors' equipment

Zurich Services Corporation

machinery

drilling rigs

cranes

excavators

incurred losses

average claim values

risk management

loss control techniques