Term – 2^nd Term

Week: 12

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:

Subject: Insurance

Topic:- Engineering insurance I

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

Define engineering insurance
State the scope of engineering insurance
Narrate briefly the history of engineering insurance

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION	TEACHER’S ACTIVITY	STUDENT’S ACTIVITY
STEP 1 INTRODUCTION	The teacher reviews the previous lesson on employer’s liability insurance	Students pay attention
STEP 2 EXPLANATION	He defines engineering insurance and discusses its scope	Students pay attention and participates
STEP 3 DEMONSTRATION	He narrates briefly the history of engineering insurance	Students pay attention and participate
STEP 4 NOTE TAKING	The teacher writes a summarized note on the board	The students copy the note in their books

NOTE

ENGINEERING INSURANCE

Engineering insurance is a branch of insurance that covers risks concerned

with accidents related to engineering.

Engineering insurance is a form of insurance that caters for the varying

forms of uncertainties affiliated with on-site construction, including

machinery and plant usage.

Engineering insurance is a cover which is aimed at indemnifying the

insured against various types of risks which include; damage to plant by

flood, boiler and pressure explosion, engine plant, electrical installations,

lifting and so on.

Engineering insurance refers to the insurance that provides economic

safeguard to the risks faced by engineers or machine operators on the

ongoing construction project, installation project, and machines and

equipment in project operation.

SCOPE OF ENGINEERING INSURANCE

Covers large machinery and plant used in the manufacturing and

construction industries.

Covers risks such as damage to plant by flood, boiler and pressure

explosion, engine plant, electrical installations, lifting machinery and so on.

Cover has been extended to cover inspected and non-inspected

Machines and equipment.

The types of machinery and equipment that can be covered has become

more varied too ranging from: Power plant, boilers, transformers,

generators, turbines, process machinery, paper-making machines and

printing machines, electrical equipment and machinery, computers,

mainframes and software systems, Machinery movement, plant hired in or

out and deterioration of stock.

Covers equipment away from your business premises and any specialist

equipment you need to hire for a specific contract you are working on.

Cover can be provided for: loss or theft, breakdown, extraneous accidental

damage, sudden and unforeseen damage.

HISTORICAL DEVELOPMENT OF ENGINEERING INSURANCE

The first insurance designed specifically for engineers covered the work

engineers performed in inspecting machinery and plant; inspection of

steam boilers.

In the nineteenth century, in Great Britain during the industrial revolution,

the frequent occurrence of explosions involving serious property damage

and loss of life made it necessary to take steps to guard against such

dangers.

In 1854, prominent gentlemen interested in the use of steam decided to

form the Manchester Steam Users’ Association. Members were entitled to use the services of boiler inspectors who were employed by the association.

This organization not only gave advice on how to prevent explosions but

also under took to guide its members in the most advantageous and

economical method of using the plant.

Though the Manchester Steam Users’ Association rendered valuable

services, it was not an insurance company.

In 1858, however, in response to an evident need, certain members

founded the first engineering insurance company, the Steam Boiler

Assurance Company. This company started with the insurance of boilers,

and its lead was soon followed by the formation of similar companies. At

first, only boilers were insured, but cover was gradually extended to

pressure vessels of various kinds.

Engine Insurance (known today as Machinery Breakdown insurance)

began in 1872 and both boiler explosion and engine covers rapidly spread

to other industrialized countries

EVALUATION: 1. Define engineering insurance

Discuss the scope of engineering insurance
In four sentences, narrate briefly the history of engineering finance

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively

Lesson Notes By Weeks and Term - Senior Secondary 2