Introduction

● Architects’, surveyors’ and consulting engineers’ fees
● Omissions to insure additions/alterations
● Temporary removal of stock Clause
● Debris Removal Clause
● Escalation Clause
● Earthquake
● Act of terrorism
● Other extensions are available under relevant sections.

● The Sum Insured for Section I (Material Damage) relating to buildings, machinery, furniture, fixtures, fittings and electrical installations shall be on Reinstatement Value basis only, while stocks shall be covered on Market Value basis.
● The Sum Insured for machinery breakdown risk should be the same as the Sum Insured of plant and machinery declared under fire, less the value towards piping and cabling.
● The Sum Insured for Section II (Business Interruption) based on Annual Gross Profit and Indemnity Period selected.
● Indemnity Period i.e. the maximum period during which the business may remain interrupted, can be chosen by the insured depending on the activities involved.

All industrial risks (other than risks rateable under the Petrochemical Tariff) with an overall Sum Insured of Rs. 100 Crores and above in one or more locations in India shall be eligible for the Industrial All Risk Policy.

The premium will depend on the type of cover opted, claims experience, risk exposures, fire protection systems available, maintenance practices and deductible opted under the policy.

The policy is subject to a compulsory deductible and will depend upon the sum insured.