Policy Summary
This insurance package provides cover against loss or damage by Fire & related Perils, Burglary, Accidental damage and it provides indemnity to the insured for the property insured against any loss or damage from any cause. The policy is normally extended to include Business Interruption. The property insured ideally includes industrial Buildings, Plant, Machinery and Equipment. This policy is ideal for Manufacturers and industrial set-ups.
In order to place an Industrial All Risks insurance Policy, the client will need to provide the following details:-
- Full Name of the client /proposer for insurance, Physical address, Postal Address, Telephone Contact, PIN Number, Occupation (Business from which client derives his income)
- Value of Industrial Building including outbuildings, landlord’s fixtures and fittings, replacement value of office furniture and equipment, plant, machinery and equipment and maximum Value of Stock in trade held at any one time.
- Gross profits for the immediate past financial year, annual gross wages and estimated cost of additional cost incurred to keep production/ business going after an extremely bad loss. Also incorporate a limit of audit fees that would be necessary for computing the claim following a loss.
- Indication of the period it would take to resume full production/ operations (Indemnity period) in the event of a very bad loss.
