Industrial All Risk Policy

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 are, in general, 2 components to these policy.

  • Material Damage
  • 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).

  • 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 Offered

  • 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