Industrial All Risk Insurance Policy

Industrial All Risk Insurance Policy

Industrial All Risk Insurance Policy

Industrial All Risk Insurance Policy

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.

Compulsory Deductibles

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.

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