Contractor’s Plant and Machinery Insurance (CPM)

It is an annual policy designed to insure against loss or damage to the contractor’s plant and machinery at work on site, during transit, or at rest within the geographical limits stated in the Schedule. SGI policy provides indemnity to the Insured in respect of items declared for insurance suffering any unforeseen and sudden physical loss or damage from any cause necessitating repair or replacement (subject to specific exclusions).