Paper 30: Cause and Effect of Failure—an Insurer's View

Abstract

Engineering insurance has its origins in a nineteenth-century co-operative for the inspection of boilers, and plant inspection remains a large part of the business. The companies concerned together employ about 2250 surveyors throughout the country. The paper describes some of the more common types of plant failure met by the insurance companies and discusses their causes and remedies. Failures may cause damage not only to the item concerned but to surrounding plant and property and may affect the ability of an undertaking to remain in profitable business. The availability of insurance cover for most engineering risks is explained.