Critical Machinery Maintenance
Condition-based maintenance of critical machinery and equipment reduces breakdown and consequential loss risks and is a key prerequisite for insurable machinery and business interruption exposures.
Strategies
From reactive through preventive (time- or usage-based) to condition-based and predictive maintenance: vibration analysis, oil diagnostics, thermography and online monitoring detect wear before it leads to breakdown. Criticality analyses prioritise the equipment with the greatest interruption potential.
Bottleneck equipment
For machinery with long spare part and repair lead times (transformers, turbines, large presses, special rolls), the maintenance plan must include a spare parts strategy, framework agreements with repair shops and documented replacement times – they determine the realistic indemnity period of the BI cover.
Insurance relevance
Machinery and property insurers review maintenance programmes during surveys; manufacturer specifications are the minimum standard. Incomplete maintenance documentation jeopardises indemnification in a loss event and measurably worsens the risk assessment.