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Industrial All Risks

Industrial All Risks     This policy is provided to manufacturers and industrial firms covering loss or damage to production plant, machinery and equipment as a result of the insured event including legal liability to third party fatal, bodily injury and property damage.

Policy Term: (years)

1

Short Period Allowed:

Yes

Minimal Policy Term: (years)

None

Cancellation Allowed:

Yes

Surrender Allowed:

No

Benefits

1. Third Party Property damage

       Protects the insured against third party liabilities in respect of third party property damage arising from or the use of the insured property or event.

2. Material Damage

       Accidental physical loss or damage to the insured property as a result of the occurrence of an insured event.

3. Third Party Fatal injury

       Protects the insured against third party liabilities in respect of third party fatal injury arising from the use of the or insured property or event.

4. Third Party Bodily injury

       Protects the insured against third party liabilities in respect of third party bodily injury arising from the use of the or insured property or event.

Product Extension(s)

1. Premium Loading

       Loading Premium

2. Business Interruption (Loss of Profit) following fire

       The perils covered under this policy is an accident indomitable under fire insurance. This class of insurance provide cover for the actual loss of profit sustained as a result of business interruption. The subject matter of insurance under this class of insurance are:- i) Reduction in turnover ii) Increase in cost of working