More Details

Scope of cover

The various covers that are offered under the product are outlined below:

• Standard Fire and Special Perils covers perils like fire, acts of God and other special perils.
• Boiler Pressure Plant Insurance covers boilers and other pressure vessels both fired unfired against losses due to explosion or collapse.
• All Risks Insurance covers loss or damage to functional equipments like computers, industrial equipments etc and non-functional equipments like laptops etc. against fire, riot and strike, terrorist activity, theft, accident, any of which arising from any fortuitous cause.
• Plate Glass covers any loss or damage to fixed plate glass due to breakage by any accidental, external and visible means.
• Burglary covers loss and/or damage by burglary, housebreaking (theft following upon actual, forcible and violent entry of and/or exit) including hold-up risk and damage caused to premises while attempting the same.
• Fidelity Guarantee covers pecuniary loss sustained as a result of act of fraud or dishonesty in respect of monies or goods of the employer committed by the employees.
• Money Insurance covers loss of money in transit by authorised employee(s) due to robbery, theft or any other fortuitous cause. The section also covers loss by burglary or house breaking, robbery or hold up whilst money is retained at the insured's premises in safe(s) or strong room.
• Public Liability Covers can be extended to cover -legal liability of the insured towards damages to third party in respect of accidental death or bodily injury or disease and loss or damage to property arising out of such accidents. It also covers legal costs and expenses incurred with prior consent of the insurer and within the limit of the indemnity.
• Employer's Liability (Workmen's Compensation) covers two forms of risks viz,
  • a. Table 'A' - Indemnity against legal liability to all employees under the W.C. Act 1923 and subsequent amendment to the said Act prior to the inception of the cover, the Fatal Accidents Act, 1855 and at Common Law."
  • b. Table 'B' - Indemnity against legal liability under the Fatal Accidents Act, 1855 and Common Law.
• Group Health / Group Health (Floater) covers - reimbursement of hospitalization expenses incurred for diseases contracted or injuries sustained in India. Medical expenses up to 30 days for pre - hospitalization and up to 60 days for post - hospitalization are also admissible.
• Group Personal Accident covers the insured in case of accidental death, loss of limbs and eyes, permanent total disablement and permanent partial disablement.

Key benefits

This policy gives coverage for all of its properties and assets and employees. This policy is specifically designed keeping the requirements of hospitality sector in mind, for example Boiler and Pressure Plant Insurance which is unique to this industry, is available under this policy. Flexibility of designing the policy as per your needs, allows you to choose the covers that you may require to protect your property and manpower, all with the convenience of a single policy.

Premium

The premium is rate is different for different sections under the policy. Based on the covers chosen, the combined premium is calculated based on amount of risks to be covered under each one of the sections. For example, under All Risk Insurance, the premium is determined based on the type of equipment and also no of those equipment, for Group Personal Accident Policy, the premium depends on the type of employees, amount of sum insured opted for each employee and number of employees to be covered under the policy.