The UK and Bermuda-based broker said that the package, which covers "the majority of machinery of varying ages", is a cost-effective alternative to manufacturers' warranties.

According to Clive Underhill, a new recruit to the RK Harrison team, the insurance package covers all the potential costly liabilities of a typical maintenance contract for around half the cost.

Stuart Rootham, director of RK Harrison said: "Machinery breakdown cover can be overlooked by other insurance providers but we feel that this is one of the most comprehensive machinery breakdown policies on the market and is a vital element in providing the complete package to our clients."

RK Harrison has also signed up two new "extremely knowledgeable" recruits – Rod Wickens and Gerry McGeoch.