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.

COVERAGE

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.

You Can Opt additional Coverages Like:

  • 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
All these policies are Tariff Products and governed & regulated by Terms and conditions as laid down by IRDA. Insurance solutions for Other Manufacturing Plants Under this line of business, Some Insurance Companies also provide coverage for manufacture of pulp & paper, steel & aluminium mills.

Major Industries coming under this category would include:
  • Pulp & paper Mills/ downstream
  • Steel & Aluminum & basic metal Mills
  • Rolling, drawing & extrusion mills
  • Manufacture &/or assembly of computer chips
Insurance Policies offered to these industries include:
  • Standard Fire & Allied Perils Insurance
  • Fire Loss Of Profits / Business Interruption Insurance
  • Industrial All Risk (IAR) Insurance
  • All these policies are Tariff Products and governed and regulated by Terms and conditions as laid down by IRDA.
Major Industries coming under this category would include:
  • Pulp & paper Mills/ downstream
  • Steel & Aluminum & basic metal Mills
  • Rolling, drawing & extrusion mills
  • Manufacture &/or assembly of computer chips
Insurance Policies offered to these industries include:
  • Standard Fire & Allied Perils Insurance
  • Fire Loss Of Profits / Business Interruption Insurance
  • Industrial All Risk (IAR) Insurance
  • All these policies are Tariff Products and governed and regulated by Terms and conditions as laid down by IRDA.