This is a package policy covering all Industrial Risk ( other than risk rateable under petrochemical tariff ) having overall sum insured of Rs 100 crores and above in one or multiple locations in India.
The Policy offers Protection on
Material damage due to
- Fire and Special Perils including flood, storm, cyclone and inundation perils.
- Earthquake ( fire & shock )
- Machinery breakdown, Boiler Explosion, Electronic Equipment.
Business Interruption due to
- Consequent upon operation of Fire Perils.
- Consequent to machinery breakdown.
On Material Damage
- 5% of claim amount subject to minimum of Rs. 5 Lakhs and maximum to Rs 50 Lakhs
On Business Interruption
- Fire—Three days gross profit subject to minimum of Rs 5 Lakhs and maximum of Rs 50 Lakhs.
- Machinery Breakdown—Depends on the type of industry and claims experience.