This is a Comprehensive Package Policy which provides cover against unforeseen circumstances including accidental damage to the property, which a large industry may face during its operation.
Minor accidents and breakdowns (or theft) may lead to major shutdown or huge expenses. Electronic equipment and machineries are expensive and often involve large sums invested in and across vast areas. Any major shutdown may lead to potential loss of Market Share and this would have long term percussions.
In such a scenario the all encompassing cover provided by Industrial All Risk Insurance, gives your industry the reassurance it needs. A timely help by paying claim would help to resume business at the earliest.
The policy covers all risks/perils other than those which are specifically excluded. The cover in its widest form, referred to as “all risk“ includes the following perils/covers:
Section I (Material Damage)
- Fire and all special perils
- Machinery Breakdown/Boiler Explosion/Electronic Equipment Insurance
Section II (Business Interruption)
- FLOP (Fire Loss of Profit): Business interruption due to fire and all special perils
- MLOP (Machinery Loss of Profit): Business interruption due to machinery breakdown
MLOP is an optional cover.