Engineering Machinery - Target Market Statement
What is the purpose of this product?
- Inspection service plus accidental damage or breakdown cover on inspected items
- Cover for accidental damage or breakdown of production machinery or building services
- Cover for loss or damage during machinery movement operations
- Cover for loss of profit following accidental damage or breakdown of machinery or failure of public utilities. Sold in conjunction with Machinery sudden and unforeseen damage
Combined policy covering Engineering covers:
- Inspection service
- Machinery movement
- Machinery sudden and unforeseen damage
- Machinery loss of profit
- Computer
- Deterioration of stock
- Contractors plant and contract works
Cover for deterioration of goods stored in cold rooms or freezers as a result of the failure of refrigeration plant, escape of refrigerant gases or failure of electricity supply.
What is the target market?
- Property Owners and machinery owners used for business purposes
- Businesses moving, repositioning or installing process machinery
- Small to medium sized businesses requiring a broad range of Engineering and Machinery covers
- Businesses using refrigerators or cold stores for the storage or distribution of temperature sensitive stock, predominantly food
What is the non-target market?
Non-business use and business outside the UK.
How is the product distributed?
This product can be distributed by brokers only.
Does the product demonstrate fair value?
The outcome of the Fair Value Assessment (FVA) conducted in accordance with Zurich's published FVA methodology confirms that the product provides fair value. All products listed have all passed the Fair Value Assessment and are valid until 31/08/2026.