0
Brief Description : This policy is a Compehensive Package Policy which covers almost all risks and perils, which a large industry may face during its operation.This policy covers Buildings, Machinery, Furniture, Fixtures, Fitting & electrical installations on Reinstatement value, while the stock is covered on market value basis. Underinsurance on each item of the schedule will be ignored if it does not exceed 15% of sum insured. Policy also covers equipments and machinery sent for repairs outside the premises for a period of 60 days. Transit risk inside the compound of an industry is also covered. Covered Risks : Bursting and overflowing of water tanks, apparatus and pipes, Deterioration of stocks due to power failure following damage to premises of public power stations and electric service feeders (for Cold Storages), Forest fire, Leakage and Contamination cover, Spoilage Material Damage cover, Sprinkler leakage cover, Subterranean fire, Spontaneous and Landslide cover, Burglary (other than Larceny), Machinery Breakdown/Boiler explosion/Electronic Equipment, Business Interruption following fire, Business Interruption following Machinery Breakdown Major Exclusions : Damage to the property caused by faulty or defective design materials or workmanship, inherent vice, wear and tear etc. Interruption of water supply, gas, electricity or fuel systems. Collapse or cracking of the building. Willful act or gross negligence. War, Invasion, mutiny, rebellion, revolution etc. Damage direct or indirect by nuclear weapons material and contamination by radioactivity.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
How do you find an old insurance company named Industrial Casualty Insurance Company of Bloomington IL?
on the internet under Industrial Casualty Insurance company
Who bought ranson industrial life insurance co in new Orleans la?
Who bought ranson industrial life insurance company
Where can you get a builders risk insurance on your home?
Allstate...State Farm..all most any insurance company that writes homeowners will do Builders risk for builders...but if you are not a builder..they will only do a "renters dwelling" policy until you move in.
What is Builders risk insurance?
Builders Risk Insurance is a commercial Lines Policy Form Obtained by Contractors and Home Builders to cover their Construction related Risks.
What company did seaboard life insurance company buy?
I am not aware of Seaboard Life Insurance Company buying any company. In 1999 Industrial Alliance purchased Seaboard Life Insurance Company. They were then merged with Industrial Alliance Pacific.
What has the author Brian Schott written?
Brian Schott has written: 'A quantitative model to aid in risk management decisions regarding insurance and self-insurance' -- subject(s): Insurance, Mathematical models, Risk (Insurance), Risk management, Self-insurance 'RISKM administrator's manual for utilization' -- subject(s): Industrial management, Management, Management games, Mathematical models, Risk management, Simulation methods
What are the advantages of getting All Risk Insurance?
The biggest advantage for having an All Risk insurance policy is that it covers many perils that may happen to a property, unless the event is specifically excluded in the policy. All Risk policies are usually only written for propery insurance.
Is risk insurance and risk insurance management are same?
According to my opinion or my experience risk insurance and risk insurance management are differ from each other. Risk Insurance is the risk that is insured Risk Insurance Management Consist of process How the Risk can be manage it include prevention of risk and minimization of risk and many other proces.
All insurance is based on a principle called?
Division of risk.
All insurance is based on a principle called what?
Division of Risk
What makes insurance company re insure?
All insurance companies have re-insurers, to protect their assets and investments. Insurance means spreading the risk to an insurance company, so insurance companies do the same thing - spread their risk to the reinsurers.
Do you need risk management or insurance?
do you need risk management or insurance
What is the population of Insurance Risk Managers?
Insurance Risk Managers's population is 2,006.
When was Insurance Risk Managers created?
Insurance Risk Managers was created in 1995.
Where can you find high risk vehicle insurance?
You can find a high risk vehicle insurance from many auto insurance companies such as progressive, geico, all state, state farm, farm bureau, and auto insurances like that.
What is sum at risk in insurance industry?
sum at risk means the total risk or insurance cover borne by policyholder.
What are four vehicle insurance laws with which all drivers should be familiar?
Compulsory insurance, financial responsibility, assigned-risk plans, and no-fault insurance
