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Property Insurance
Property insurances find a place in the insurance portfolio of most organizations, be they in manufacturing, services or other activities. Property insurances provide protection to an organization in respect of its valuable assets that are critical to its operation. In respect of a manufacturing company, the assets would not only include the fixed assets such as building, machinery, electrical installation, furniture, fixtures, fittings and stock of materials but also movable assets such as stocks of raw materials, finished products and work in process. In respect of service industries, there may not be any concept of raw materials or finished goods, but the critical assets could be the facilities such as building and associated equipments related to power supply, air conditioning and water supply.
We recognize that the requirements of insurance vary according to the situation and type of business our valuable clients are in and hence we have a full spectrum of products under the Property Insurance Portfolio. These include:
• Standard Fire and Special Perils
• Consequential Loss (Fire) Insurance
• Industrial All Risk Insurance
Engineering Insurance
Engineering insurances have arisen to address the demands of technological advancement of modern industries and the special risks that they have created, which need more professional handling.
Engineering insurances are more specific to the requirements of equipments, their erection and operational risks such as breakdowns. There are two broad types of engineering insurances, one for insuring Construction/Erection related projects, called as Project Insurances and the other for insuring risks of operation of individual or groups of machinery or equipment called as Annual Engineering Insurances. The latter consists of Machinery Insurance, Contractor's Plant and Machinery Insurance, Electronic Equipment Insurance, Boiler Explosion Insurance, Deterioration of Stocks Insurance and Loss of Profits Insurance.
I] Project Insurance:
Project Insurance is a comprehensive insurance on property against accidents resulting in damage to civil structures or machinery while in the normal course of erection or construction.
• Erection All Risk Insurance
• Contractors All Risk Insurance
• Advance Loss of Profits Insurance
II] Annual Engineering Insurance:
These insurances are normally taken along with property insurances such as Standard Fire and Special Perils Policy, as the latter does not offer accidents or breakdown coverage of plant and machinery.
• Machinery Breakdown Insurance
• Contractors Plant & Machinery Insurance
• Electronic Equipment Insurance
• Boiler and Pressure Plant Insurance
• Deterioration of Stock Insurance
• Loss of Profits
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 Top Providers |
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ICICI Prudential Life |
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SBI Life Insurance |
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Life Insurance Corp. |
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Bajaj Allianz Insurance |
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United India Insurance |
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