Tata AIG Fire Policies


2017-12-21 00:30:00 UTC

tata aig fire insurance

Standard Fire and Special Perils Policy


Standard Fire and Special Perils Insurance is a traditional cover that offers cover against fire and allied perils which are named in the policy.It is also known as Fire insurance. The policy can cover building (including plinth and foundation), plant and machinery, stocks, furniture, fixtures and fittings and other contents.IT is the most fundamental business insurance policy, and along with the various extensions, covers the entire business. At perilwise, you can actually compare & buy Fire insurance online, and customise it exensively, with comparison from all leading insurers!

Benefits

The standard cover is a named-peril policy covering following named perils:

  • Fire
  • Lightning
  • Explosion / Implosion
  • Aircraft Damage
  • Riot, Strike, Malicious Damages (RSMD)
  • Storm, Tempest, Cyclone, Typhoon, Hurricane, Tornado, flood, inundation (STFI)
  • Impact damage by any rail/ road/ vehicle/ animal (other than own)
  • Subsidence, Landslide and Rock slide
  • Missile Testing operations
  • Bush Fire
  • Bursting and/or overflowing of Water Tanks, Apparatus and Pipes
  • Leakage from Automatic Sprinkler Installations
Addons

On payment of additional premium, the following add-on covers can be opted

  • Architects, Surveyors and Consulting Engineers fees (in excess of 3% of claim amount)
  • Debris Removal (in excess of 1% of claim amount)
  • Deterioration of Stock in Cold Storage
  • Forest Fire
  • Impact Damage by insured's own vehicles etc.
  • Spontaneous combustion
  • Omission to insure Additions, Alterations or Extensions
  • Earthquake (Fire and Shock)
  • Spoilage Material Damage Cover
  • Leakage and Contamination Cover
  • Loss of Rent
  • Additional expenses on rent for Alternative Accommodation
  • Start Up Expenses
  • Terrorism Cover
Exclusions
  • Excess as specified in the policy
  • Loss, destruction or damage caused by war, invasion, act of foreign enemy hostilities or war like operations (whether war be declared or not), civil war, mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, rebellion, revolution, insurrection or military or usurped power
  • Nuclear risks
  • Pollution or contamination
  • Loss, destruction or damage to bullion or unset precious stones, works of art, plans drawing, securities, money etc and other such items
  • Loss, destruction or damage to the stocks in Cold Storage premises caused by change of temperature
  • Loss, destruction or damage to any electrical machine, apparatus, fixture, or fitting arising from or occasioned by over-running, excessive pressure, short circuiting, arcing, self heating or leakage of electricity from whatever cause (lightning included) provided that this exclusion shall apply only to the particular electrical machine, apparatus, fixture or fitting so affected and not to other machines, apparatus, fixtures or fittings which may be destroyed or damaged by fire so set up.
  • Expenses necessarily incurred on (i) Architects, Surveyors and Consulting Engineer's Fees and (ii) Debris Removal by the Insured following a loss, destruction or damage to the Property insured by an insured peril in excess of 3% and 1% of the claim amount respectively.
  • Loss of earnings, loss by delay, loss of market or other consequential or indirect loss or damage of any kind or description whatsoever
  • Loss, or damage by spoilage resulting from the retardation or interruption or cessation of any process or operation caused by operation of any of the perils covered
  • Any Loss or damage occasioned by or through or in consequence directly or indirectly due to earthquake, Volcanic eruption or other convulsions of nature.
  • Loss or damage to property insured if removed to any building or place other than in which it is herein stated to be insured, except machinery and equipment temporarily removed for repairs, cleaning, renovation or other similar purposes for a period not exceeding 60 days

This Policy does not cover the deductibles stated in the Schedule in respect of each and every loss under various covers.

Consequential Loss (Fire) Insurance


Even when you take fire insurance, damage caused to your business takes time to repair, even with the claim paid out. Every second your business is not operational is a loss in revenue for you, and hence the Fire loss of profit cover (or consequential loss(Fire) policy) was designed. The Consequential Loss (Fire) Insurance Policy would be applicable for all risks covered under Standard Fire and Special Perils Policy. The Sum Insured is based on the gross profit of the business. Gross Profit is defined as the sum of Net Profit and insured standing charges.

Benefits

Policy broadly covers

  • Loss of Gross Profit due to Reduction in Turnover
  • Increased cost of working - The additional expenditure incurred for the purpose of avoiding or diminishing the Reduction in Turnover or Out put
Add-ons

On payment of additional premium, the following coverage can be selected

  • Supplier's extension
  • Customer’s extension
  • Failure of Public power supply/Gas works/water works
  • Auditor’ fees
Exclusions

All exclusions applicable for Material Damage (under Standard Fire and Special Perils) policy are applicable for CLOP policy also.

This Policy does not cover the deductible stated in the Schedule in respect of each and every loss under various covers. Deductible is generally defined in terms of number of days of standard gross profit.

TATA AIG boiler plant policy

Boiler and Machinery

Equipment breakdown has the potential to stop business activities, with serious consequences to company's bottom line. Boiler & machinery coverage, often referred to as Machinery Breakdown Insurance offers protection against these types of losses. The coverage is available on a stand-alone basis to cover Electrical and Mechanical breakdown, Breakdown risk for Electronic equipments and explosion / collapse, risk for Boiler/ Pressure vessels. Covered equipment can include, but is not limited to Gas and Steam Turbines; Engines, Pumps and Compressors; Electric Motors, Generators and Transformers; Switchboards and other electrical apparatus; Refrigeration and Air conditioning equipments; Computers / servers / Printers; Steam Boilers & Pressure vessels

Benefits

Machinery Breakdown Coverage:

  • Physical loss or damage to machinery and equipment against unforeseen and sudden physical loss of, or
  • Damage to the insured items, necessitating their repair or replacement, other than specified excluded perils.
  • Cover is valid during the time the machinery is in operation or rest or in the process of dismantling, overhauling or during subsequent re-erection at the same premises.
Major Exclusions
  • Loss, damage and/or liability caused by or arising from or in consequence, directly or indirectly of fire including extinguishment of a fire or clearance of debris and dismantling necessitated thereby, smoke, soot, aggressive substance, lightning, explosion of any kind (other than bursting or disruption of turbines, compressors, cylinders of steam engines, hydraulic cylinders or fly wheels or other apparatus subject to centrifugal force, internal pressure) theft, collapse of buildings, subsidence, landslide, rockslide, water which escapes from water containing apparatus, flood, inundation, storm, tempest, earthquake, volcanic eruption or other Acts of God, impact of land borne or waterborne or airborne craft or other aerial devices and/or articles dropped therefrom.
  • Any loss or damage by fire within the electrical appliances and installation insured by this Policy arising from or occasioned by overrunning, excessive pressure, short circuiting, arcing, self heating or leakage of electricity, from whatever cause (lightning included), is covered; provided that this extension shall apply only to the particular electrical machine; apparatus fixture fitting or portions of the electrical installation so affected and not to other machines, apparatus, fixtures fittings or portions of the electrical installation which may be destroyed or damaged by fire so set up.
  • Loss damage and/or liability caused by or arising from or in consequence, directly of –
    • War, invasion, Act of foreign Enemy, Hostilities or war like operations (Whether war be declared or not). Civil war, rebellion, revolution, Insurrection, Mutiny, Riot, Strike, Lockout and Malicious Damage, Civil Commotion, Military or Usurped Power, Martial Law, Conspiracy Confiscation, Commandeering by a group of malicious persons or persons acting on behalf of or in connection with any political Organisation, Requisition or Destruction or damage by order of any Government de-jure or de facto or by any Public, Municipal or Local Authority.
    • Nuclear reaction, nuclear radiation or radioactive contamination
    • Accident, Loss, damage/and/or liability resulting from over load experiments or tests requiring the imposition of abnormal conditions.
    • Gradually developing flaws, defects, cracks or partial fractures in any part not necessitating immediate stoppage, although at some future time repair or renewal of the parts affected may be necessary
    • Deterioration of or wearing away or wearing out any part of any machine caused by or naturally resulting from normal use or exposure
  • Loss, damage and/or liability caused by or arising out of the willful act to willful neglect or gross negligence of the insured or his responsible representatives
  • Liability assumed by the insured by agreement unless such liability would have attached to the insured notwithstanding such agreement.
  • Loss, damage and/or liability due to faults or defects existing at the time of commencement of this insurance and known to the insured or his responsible representative but not disclosed to the Company.
  • Loss of use of the Insured's plant or property of any other consequential loss incurred by the Insured.
  • Loss, damage/and/or liability due to explosions in Chemical Recovery Boilers, other than pressure explosions for e.g. smelt, chemical, ignition, Explosions etc.

A compulsory excess is chargeable, depending upon the value of the insured machinery.

Boiler & Pressure Plant Insurance

Coverage
  • Sudden / accidental explosion and collapse risks to insured boilers / pressure plants.
  • Insured's own surrounding property and third party liability, arising out of a sudden and unforeseen physical loss of, or damage due to explosion or collapse of the boiler and / or pressure plant.
Add Ons
  • Express freight (excluding airfreight), Overtime and Holiday rates of wages.
  • Airfreight
  • Owner’s Surrounding Property
  • Third Party Liability
  • Additional Customs Duty
Major Exclusions
  • Loss damage and/or liability caused by or arising from or in consequences, directly or indirectly of Fire (arising from explosion or collapse or any other cause whatsoever) including extinguishment of a fire or clearance of debris and dismantling necessitated thereby, smoke, soot, aggressive substance lightning, theft, collapse of buildings, subsidence, landslide, rockslide, water which escapes from water containing apparatus, flood, inundation, storm, tempest, earthquake, volcanic eruption or other Acts of God, impact of land borne, waterborne, or airborne craft or other aerial devices and/or articles dropped therefrom.
  • War Invasion, Act of Foreign Enemy, Hostilities or War like operations (whether war be declared or not), Civil War, Rebellion, Revolution, Insurrection, Mutiny, Riot, Strike, Lock out and Malicious Damage, Civil Commotion, Military or Usurped power, Martial law, Conspiracy, Confiscation, Commandeering a group of Malicious Person or persons acting on behalf of or in connection with any Political Organisation. Requisition or Destruction or damage by order of any Government dejure or defacto or by any Public, Municipal or Local Authority.
  • Nuclear reaction, nuclear radiation or radioactive contamination.
  • Accident loss damage and/or liability resulting from overload experiments or tests requiring the imposition of abnormal conditions.
  • Gradually developing flows, defects, cracks or partial fractures in any part not necessitating immediate stoppage although at some future time repair or renewal of the parts affected may be necessary.
  • Defects due to the wearing away or the wasting of the materials of a Boiler or a Pressure Plant whether by leakage, corrosion or by the action of the fuel or otherwise the grooving or the fracturing of any of the parts of a Boiler or pressure plant or for deterioration generally or for the development of cracks blisters, lamination and other flaws or fractures, failures of joint within the range of steam or feed pipes, or for bulging and deformation due to overheating of tubes (unless such defects, fracture, failure or bulging result in explosion or collapse) or for the cracking of section of cast-iron heating boilers or other vessels constructed of cast iron.
  • The failure of individual tubes in Boilers of the water tube locomotive or other multitubular types, in Super heaters or in Economizers (unless such defects result in explosion or collapse).
  • Loss or damage to the insured plant or property and/or liability arising during and occasioned by the application of steam hydraulic or any other test of this plant as specified by Inspecting Authority or otherwise.
  • Loss or damage and/or liability caused by or arising out of the wilful act or wilful neglect or gross negligence of the insured or his responsible representatives.
  • Liability assumed by the Insured by agreement unless such Liability would have attached to the Insured not withstanding such agreement.
  • Loss or damage and/or liability due to faults or defects existing at the time of commencement of this Insurance and known to the Insured or his responsible representatives but not disclosed to the Company.
  • Loss of use of the Insured's plant or property or any other consequential loss incurred by the Insured.
  • Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts.
  • In any action, suit or other proceeding where the company alleges that by reason of the exceptions or exclusions above any loss destruction, damage or liability is not covered by this insurance, the burden of proving that such loss destruction, damage or liability is covered shall be upon the Insured.

The policy is subject to a compulsory excess.

Electronic Equipment Insurance

Coverage
  • Accidental and unforeseen physical loss or damage to electronic equipments and data media.
  • This policy can be extended to include additional costs the insured shall incur to ensure continued data processing on substitute equipment if such costs arise as an unavoidable consequence, of an indemnify-able loss or damage, during the period of insurance, to property insured under the material damage section of the policy.
Major Exclusions
  • War, Invasion, Act of foreign Enemy, Hostilities or War Like operations (whether war be declared or not), Civil War, Rebellion Revolution, Insurrection Mutiny, Civil Commotion, Confiscation, Commandeering a Group of Malicious persons or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any government de-jure or de-facto or any public, municipal or local authority.
  • Nuclear Reaction, Nuclear radiation or radioactive contamination
  • Willful act or willful negligence of the Insured or his representative.
  • Cessation of work whether total or partial.
  • Cost Incurred/time involved in the movement of machinery and/or any other property and/or personnel outside the territorial limits of India other than the cost of delivery of replacements for machinery lost or damaged.
  • Derangement of the Insured property not accompanied by damage otherwise covered by this policy.
  • Loss of or damage to the property covered under this policy falling under the terms of the Maintenance Agreement.
  • Loss destruction or damage directly occasioned by pressure wave caused by aircraft and other aerial devices traveling at Sonic or Supersonic speeds.
  • loss or damage caused by any faults or defects existing at the time of commencement of the present insurance within the knowledge of the insured, or his representatives, whether such faults or defects were known to the company or not
  • loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, cavitations, erosion, corrosion, incrustation) or of gradual deterioration due to atmospheric conditions;
  • any costs incurred in connection with the elimination of functional failures unless such failures were caused by an indemnifiable loss of or damage to the insured items
  • loss or damage for which the manufacturer or supplier of the insured items is responsible either by law or under contract;
  • loss of or damage to rented or hired equipment for which the owner is responsible either by law or under a lease and/or maintenance agreement;
  • loss of or damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, rubber tyres, exchangeable tools, engraved cylinders, objects made of glass, porcelain or ceramics sieves or fabrics, or any operating media (e.g. lubricating oil, fuel, chemicals)
  • consequential loss or liability of any kind or description
  • aesthetic defects, such as scratches on painted polished or enamelled surfaces
  • any costs arising from false programming, punching, labeling or inserting, inadvertent canceling of information or discarding of data media, and from loss of information caused by magnetic fields;
  • Costs for replacement of data media, data and regeneration of data
  • Costs for replacement of data media, data and regeneration of data
  • Costs arising out of circumstances, which are not connected with the insured material damage. In particular the Company shall not be liable for additional costs arising out of –
  • bodily injuries
  • orders or measures imposed by any public authority
  • expansion and improvements of the equipments
  • Lack of funds causing delay in repairs or replacement of damaged equipments

Deductibles:

The policy is subject to a compulsory excess which depends upon the value of the equipment insured.

Contractor's Plant & Machinery

Coverage
  • Fire, lightning etc
  • Burglary, theft, riot / strike/ malicious damage & terrorism
  • Earthquake, flood storm, tempest, hurricane, typhoon, tornado, subsidence, landslide, rockslide etc
  • Faulty handling, damage due to falling, dropping and impact etc
Add ons
  • Express freight (excluding air freight), overtime and holiday rates of wages
  • Air freight
  • Owner’s surrounding property
  • Clearance and removal of debris
  • Additional customs duty
  • Escalation
  • Third party Liability
  • Earthquake
  • Floater Cover
  • Act of terrorism
Major Exclusions
  • loss or damage due to electrical or Mechanical breakdown, failure, breakage or derangement, freezing of coolant or other fluid, defective lubrication or lack of oil or coolant, but if as a consequence of such breakdown or derangement an accident occurs causing external damage, such consequential damage will be indemnifiable.
  • loss of or damage to replaceable parts and attachment such as bits, drills, knives or other cutting edges, saw blades dies, moulds, patterns, pulverizing and crushing surfaces, screens and sieves, ropes, belts, chains, elevator and conveyor bands, batteries, tyres, connecting wires and cables, flexible pipes, joining and packing material regularly replaced
  • loss or damage due to explosion of any boiler or pressure vessel subject to internal steam or fluid pressure or of any internal combustion engine
  • loss of or damage to vehicles designed and licensed for general road use unless these vehicles are exclusively used on construction site
  • loss of or damage to Hull and machinery of waterborne vessels or crafts, however this exclusion shall not apply to Contractors Plant and machinery mounted on water borne vessels or crafts for the purpose of use for the contract work.
  • loss or damage due to total or partial immersion in tidal waters;
  • loss or damage whilst in transit, from one location to another location. (Public Liability will not be payable while Contractors Plant & Machineries are on Public Roads).
  • loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, corrosion, rust, deterioration due to lack of use and normal atmospheric conditions)
  • loss or damage occurring whilst any insured item is under- going a test of any kind or is being used in any manner or for any purpose other than that for which it was designed
  • loss of or damage to plant and/or machinery working underground
  • War, Invasion, act of foreign enemy, hostilities or war like operation (whether war be declared or not), Civil War, Rebellion Revolution Insurrection, Mutiny, Civil Commotion, Military or usurped power, martial law, conspiracy, confiscation, commandeering a group of malicious person or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any government de jure or de facto or by any public, Municipal or Local Authority.
  • loss or damage directly or indirectly caused by, or arising out of, or aggravated by nuclear reaction, nuclear radiation or radioactive contamination.
  • loss or damage due to any faults or defects existing at the time of commencement of this policy within the knowledge of the insured or his representatives, whether such faults or defects were known to the Company or not
  • loss or damage directly or indirectly caused by, or arising out of or aggravated by the willful act or willful negligence of the insured or his representatives
  • loss or damage for which the supplier or manufacturer is responsible either by law or under contract
  • consequential loss or liability of any kind or description;
  • loss or damage discovered only at the time of taking an inventory or during routine servicing.

The excesses under CPM policy depend on the Sum Insured of the individual machine, the type of machine and whether the claim is due to an Act of God peril or otherwise. For quotes or any queries, contact perilwise

Machinery Loss of Profits

Coverage

The coverage includes indemnity during business interruption arising from:

  • Reduction in turnover
  • Increase in cost of working
Addons
  • Air Freight
  • Express Freight (excluding Air Freight), Overtime and Holiday Wages
  • Insured’s Own Surrounding Property
  • Escalation of sum insured
  • Third Party Liability
Major Exclusions
  • Willful act or willful neglect or gross negligence of the insured or his responsible representatives
  • Loss or damage to machinery or other items which are not listed in the list of machinery insured even if the consequence of material damage to an item indicated in the list of machinery insured is involved
  • Loss or damage caused by any faults or defects existing at the time of commencement of this insurance within the knowledge of the insured or his responsible representatives whether such faults or defects were known to the Company or not
  • Shortage, destruction, deterioration and spoilage of or damage to raw materials, semi finished or finished products or catalyst or operating media (such as fuel, lubricating oil, refrigerant, heating media and the like) even if the consequence of material damage to an item indicated in the list of machinery insured is involved
  • Any restrictions on reconstruction or operation imposed by any public authority.
  • An extension of the normal repair period for more than 4 weeks on account of -
  • the inability to secure or delays in securing replacement parts, the inability to secure or delays in securing replacement parts
  • the inability to carry or delays in carrying out repairs.
  • the prohibition to operate the machinery due to import and/or export customs & other restrictions or by statutory regulations
  • transport of parts to and from the Insured’s premises
  • Alterations improvements or overhauls being made while repairs or replacements of damaged or destroyed property are being carried out
  • Loss damage and/or liability caused by or arising from or in consequence directly or indirectly of-
  • War, Invasion, Act of foreign enemy, hostilities or War like operations (whether war be declared or not), Civil War, Rebellion, Revolution, Insurrection, Mutiny, Riot, Strike, Lockout and Malicious Damage, Civil Commotion, Military or usurped power, martial law, conspiracy, confiscation, commandeering a group of malicious person or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any government de jure or de facto or by any public. Municipal or Local Authority, an act of terrorism or the action of any lawfully constituted authority in suppressing or attempting to suppress or minimise the consequences thereof.
  • Nuclear reaction, nuclear radiation or radioactive contamination.

A compulsory excess is chargeable.For quotes or any queries, contact perilwise

Industrial All Risks Insurance


Industrial All Risks Insurance is a wider cover than traditional “Standard Fire and Special Peril Insurance policy”. It is an all risk policy covering a wide range of perils such as fire and allied perils, burglary, accidental damage, breakdown as well as business interruption.There is generally a minimum sum insured and certain other criteria set fr offering industrial all risk policy. Perilwise can help you understand your needs exactly and get you the corect policy for your needs. For quotes or any queries, contact perilwise

Benefits

Coverage is defined into two Sections as follows

  • Section - I: Material Damage - It covers accidental physical loss or damage (including machinery breakdown) to the property insured (other than excluded property) due to any cause (other than excluded causes).
  • Section - II: Business Interruption - It covers loss due to business interruption following a Physical loss or damage to the property covered under material damage section of the policy. Loss of Profits arising out of machinery breakdown is optional.
Add-ons

On payment of additional premium, the following add-on covers can be opted -

  • Agreed Bank Clause
  • Architects, Surveyors and consulting engineers fees clause
  • Designation of Property Clause
  • Escalation Clause
  • Omission to insure additions, alterations & extensions clause
  • Temporary removal of stocks clause
  • Terrorism Cover
Exclusions

Exclusion is defined in the form of “Excluded Causes” and “Excluded Properties” as follows,

A. Excluded Causes

  • This Policy does not cover damage to the property insured caused by:
  • faulty or defective design, materials or workmanship, inherent vice, latent defect, gradual deterioration, deformation or distortion or wear and tear
  • interruption of the water supply gas electricity or fuel systems or failure of the effluent disposal systems to and from the premises unless Damage by a cause not excluded in the Policy ensues and then the Company shall be liable only for such ensuing Damage.
  • collapse or cracking of buildings
  • corrosion, rust extremes or changes in temperature, dampness, dryness, wet or dry rot, fungus, shrinkage, evaporation, loss of weight, pollution, contamination change in colour, flavour, texture or finish, action of light, vermin, insects, marring or scratching unless such loss is caused directly by Damage to the property insured or to premises containing such property by a cause not excluded in the Policy.
  • larceny
  • acts of fraud or dishonesty
  • disappearance, unexplained or inventory shortage, misfiling or misplacing of information, shortage in supply or delivery of materials or shortage due to clerical or accounting error
  • coastal or river erosion
  • normal settlement or bedding down of new structures
  • Damage caused by or arising from-
  • any willful act or willful negligence on the part of the Insured or any person acting on his behalf
  • cessation of work delay or loss of market or any other consequential or indirect loss of any kind or description whatsoever
  • Damage occasioned directly or indirectly by or through or in consequence of any of the following occurrences, namely:
    • war, invasion, act of foreign enemy, hostilities or warlike operations (whether war be declared or not), civil war
    • mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection, rebellion, revolution, military or usurped power
    • permanent or temporary dispossession resulting from nationalization commandeering or requisition by any lawfully constituted authority
    • permanent or temporary dispossession of any building resulting from the unlawful occupation of such building by any person provided that the Company is not relieved of any liability to the Insured in respect of Damage to the property insured occurring before dispossession or during temporary dispossession which is otherwise insured by this Policy
    • the destruction of property by order of any public authority
    • In any action, suit or other proceeding where the Company alleges that by reason of the provisions of Exclusions A3) a) and b) above any loss destruction or damage is not covered by this insurance the burden of proving that such loss destruction or damage is covered shall be upon the Insured.
    • Damage directly or indirectly caused by or arising from or in consequence of or contributed to by:
      • nuclear weapons material
      • ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. Solely for the purpose of this Exclusion Combustion shall include any self-sustaining process of nuclear fission.

B. Excluded Property

This Policy does not cover:

  • Money, cheques, stamps, bonds, credit cards, securities of any description, jewellery, precious stones, precious metals, bullion, furs, curiosities, rare books or works of art unless specifically mentioned as insured by this Policy
  • Unless specifically mentioned as insured by this Policy goods held in trust or on commission documents manuscripts business books computer systems records patterns models moulds plans designs explosives
  • vehicles licensed for road use (including accessories thereon) caravans trailers railway locomotives or rolling stock watercraft aircraft spacecraft or the like
  • property in transit other than within the premises specified in the Schedule
  • property or structures in course of demolition construction or erection and materials or supplies in connection therewith
  • land (including top-soil back-fill drainage or culverts) driveways pavements roads runways railway lines dams reservoirs canals rigs wells pipelines tunnels bridges docks piers jetties excavations wharves mining property underground off-shore property unless specifically covered
  • livestock growing crops or trees
  • property damaged as a result of its undergoing any process
  • property undergoing testing installation including materials and supplies thereof if directly attributable to the operations of work being performed thereon unless Damage by a cause not otherwise excluded ensues and then the Company will be liable only for such ensuing loss
  • property more specifically insured
  • property insured if removed to any building or place other than which it is herein stated to be insured, except machinery and equipments temporarily removed for repairs, cleaning, renovation or other similar purpose for a period not exceeding 60 days.
  • Damage to property which at the time of the happening of such damage is insured by or would but for the existence of this Policy be insured by any marine policy or policies except in respect of any excess beyond the amount which would have been payable under the marine policy or policies had this insurance not been effected.

Special Exclusions to Section II

  • This Policy does not cover loss resulting from interruption of or interference with the business directly or indirectly attributable to
    • any restrictions on reconstruction or operation imposed by any public authority
    • the Insured’s lack of sufficient capital for timely restoration or replacement of property lost destroyed or damaged
    • loss of business due to causes such as suspension lapse or cancellation of a lease license or order etc. which occurs after the date when the items lost destroyed or damaged are again in operating condition and the business could have been resumed, if said lease license order etc. had not lapsed or had not been suspended or cancelled
    • damage to boilers economizers turbines or other vessels machinery or apparatus in which pressure is used or their contents resulting from their explosion or rupture.
    • electronic installations, computers and data processing equipment
  • Damage resulting from-
    • deliberate erasure loss distortion or corruption of information on computer systems or other records programs or software.
    • other erasure loss distortion or corruption of information on computer systems or other records programs or software unless resulting from fire, lightning, explosion, aircraft, impact by any road vehicle or animals, earthquake, hurricane, windstorm, flood, bursting overflowing discharging or leaking of water tanks apparatus or pipes in so far as it is not otherwise excluded
    • unless caused by Damage to the machine or apparatus in which the records are mounted.
    • mechanical or electrical breakdown or derangement of machinery or equipment.

This Policy does not cover the deductibles stated in the Schedule in respect of each and every loss under various covers. For quotes or any queries, contact perilwise

Contractors All Risks


The Contractors All Risks Insurance offers comprehensive coverage for all types of civil construction risks.

  • The coverage for physical loss or damage to property is on an "All Risks" basis, i.e. the policy insures against damage to property in the course of construction by all sudden, accidental and unforeseen causes other than specified excluded perils.
  • This cover includes works brought on to the site for the purposes of the contract as well as temporary works erected or constructed on-site.
Addons
  • Surrounding property
  • Debris removal expenses
  • Third party liability
  • Escalation costs up to 50%
  • Air freight & express freight
  • Extended maintenance
  • Additional custom duty
Exclusions
  • War, Invasion, Act of foreign enemy, hostilities or War like operations (whether war be declared or not) Civil War, rebellion, revolution, insurrection, mutiny, Civil commotion, Military or usurped power, martial law, conspiracy, confiscation, commandeering a group of malicious persons or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any Government de jure or defacto or by any Public, Municipal or Local Authority;
  • Nuclear reaction, Nuclear radiation or Radioactive contamination
  • Willful act or willful negligence of the Insured or of his responsible representative;
  • Cessation of work whether total or partial
  • Inventory losses
  • Manufacturing / design defects
  • Consequential loss

The policy is subject to a compulsory excess & depends on the type of construction work.

Erection All Risks


Erection All Risks (EAR) insurance offers protection to principal and contractors and also to manufacturers and suppliers erecting machinery and plant etc. against financial loss due to any sudden fortuitous and unforeseen causes resulting in loss or damage to the property insured at the project site whilst being stored, erected, tested and commissioned. It is often taken in conjunction with Contractor's all risk policy. For quotes or any queries, contact perilwise

Benefits
  • Erection All Risks Insurance offers comprehensive coverage for plant and machinery construction risks.
  • This policy can be extended to include third party liability related to work conducted on the contract site.
Add-ons
  • Surrounding property
  • Debris removal expenses
  • Third party liability
  • Escalation costs up to 50%
  • Air freight & express freight
  • Extended maintenance
  • Additional custom duty
Exclusions
  • War, Invasion, Act of foreign enemy, hostilities or War like operations (whether war be declared or not) Civil War, rebellion, revolution, insurrection, mutiny, Civil commotion, Military or usurped power, martial law, conspiracy, confiscation, commandeering a group of malicious persons or persons acting on behalf of or in connection with any political organisation, requisition or destruction or damage by order of any Government de jure or defacto or by any Public, Municipal or Local Authority;
  • Nuclear reaction, Nuclear radiation or Radioactive contamination
  • Willful act or willful negligence of the Insured or of his responsible representative;
  • Cessation of work whether total or partial
  • Inventory losses
  • Manufacturing / design defects
  • Consequential loss

The policy is subject to a compulsory excess & depends on the type of erection work.

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