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United India Industrial Insurance |
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Industrial All Risk Policy
We Cover
All the risks other than petro chemical risks having a minimum sum insured of 100 crores are covered here.
Perils Covered
The scope of the cover can be divided into two sections
• Fire & all covers
• burglary and theft
• Machinery breakdown / Boiler explosion / Electronic Equipment Insurance
• Consequential Loss following Fire ( FLOP )
• Machinery Loss of Profit
What is not Covered ?
The exclusions are elaborated under two sections : excluded causes & excluded property
Excluded causes
• Faulty design, materials , workmanship and construction
• Interruption loss due to failure of gas , electricity and water supply
• Collapse or cracking of buildings
• larceny, fraud or dishonesty
• wilfull negligence on the part of insured
• war group of perils
• nuclear group of perils
• destruction of property by public order
Excluded Property
• Money , cheques , securities of any description , jewellery , works of art , goods held in trust or on commision , computer system records
• Vehicles licensed for road use
• Property in transit outside premises
• Properties or structures in course of erection or demolition unless specifically covered.
• Land , pavements , railway and road lines untill specifically covered
• Property damaged as a result of its undergoing some process
• Livestock , growing crops or trees
• Property removed to other locations exceeding 60 days
• Loss payable to the property covered under marine / other policies
• Insured´s lack of sufficient capital
• Any restrictions imposed by any public authorities
• Loss of bussiness due to cancellation of order / Lease
• Damage to boilers , machinery , economizers and data equipment
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