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Boiler and Machinery Insurance

   Also found in: Encyclopedia 0.01 sec.
Boiler and Machinery Insurance
An insurance policy that covers industrial equipment. It provides compensation in the event of damage to the machine. It may pay for new equipment, medical bills and other expenses resulting from the damage to the equipment, as well as other costs like lost income.


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The product was codeveloped with boiler and machinery insurance provider Mutual Boiler Re of Malvern, Pa.
Times have changed and industries have evolved throughout the 20th century so that boiler and machinery insurance covers far more than steam boilers.
Strasburg said a discussion on liability insurance will examine several topics, among them lead coverage, umbrella insurance; workers' compensation, boiler and machinery insurance, and the difference between replacement cost and actual cash value.
 
 
 
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