Scope of cover

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

• Standard Fire and Special Perils policy covers Perils like fire, acts of God and other special perils.
• Machinery Breakdown covers loss due to accidental electrical and mechanical breakdowns to machinery.
• Electronic Equipment covers losses due to perils like fire, burglary, acts of God (AOG) and accidents to electronic equipment.
• All Risks (portable equipment) covers loss or damage to portable equipment by fire, riot and strike, terrorist activity, theft, accident, any of which arising from any fortuitous cause.
• Plate Glass Policy covers any loss or damage to fixed plate glass due to breakage by any accidental, external and visible means.
• Burglary Policy 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 Policy 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 Policy 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 Policy 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 WC 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 Personal Accident covers-
  • a. The insured in case of accidental death, loss of limbs and eyes, permanent total disablement and permanent partial disablement
  • b.Critical Care Insurance provides benefits in case of nine defined critical illnesses.

Key benefits

This policy gives coverage for all of its properties, assets, cash, machineries, electronic equipment and also the employees. 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

Premium under the policy is calculated based on no of sections opted for, values of the property, no of workers and also amount covers opted for each of the workers and various other policies like liability policy.