All Risk

All Risk Policy is a product designed to cover your valuable movable equipment like laptops, mobile phones, handy-cams, jewellery and articles of intrinsic value like paintings and the like which do not remain confined to your own home and are exposed not only to natural perils but also to perils such as theft, snatching, etc. Barring a few perils like Earthquake, War etc., the Policy offers very comprehensive protection against many perils including any accident or misfortune not expressly excluded.

Electronic Equipment Insurance (EEI)

EEI policy is issued on All Risk Cover basis to protect Desktop Computers, Bio-medical equipment, X-ray equipment, Audio/Video equipment, micro-processor equipment, etc. External Data Media, Increased cost of working in the event of damage. This policy is location specific therefore precise location of the equipment in the policy is one of the important factor at the time of Claim.

Machinery Breakdown (MBD)

MBD Insurance policy provides insurance protection to both rotating as well as static equipment while at work or at rest against mechanical and electrical breakdown and also human error and negligence. Policy covers sudden and unforeseen loss or physical damage, necessitating its repair or replacement and resulting from Fortuitous working accidents, Tearing apart due to centrifugal forces, Shortage of water in steam boilers or pressure vessels, Overpressure or implosion, Short circuit, Defects or faults in design, materials or manufacturing, faulty erection etc.

Contractor Plant & Machinery (CPM)

CPM Insurance policy provides cover for different types of machinery used for handing material or construction. The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy. The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

Contractor All Risk (CAR)

CAR Insurance policy provides financial protection to the Civil Engineering Contractors in the event of an accident to the civil engineering works under construction. In case the policy period exceeds 12 months, the premium can be paid in quarterly instalments with the first instalment being more by 5% and the last instalment being paid 6 months before expiry of the policy.

The policy has two sections:
  • Section I-Material Damage-covering physical loss, damage or destruction of the property insured by any cause, other than those specifically excluded in the policy.
  • Section II-Third Party Liability-covering the legal liability falling on the insured contractor as a result of bodily injury or property damage belonging to a third party.

Erection All Risk (EAR)

EAR Insurance policy is recommended for Contractors and Firms commissioned to carry out the projects involving Testing of Plant & Machinery. This is an ‘All Risk’ policy covering sudden and unforeseen physical damage to projects under erection insured by any cause or peril not specifically excluded under the policy and resulting during the course of:

  • Erection
  • Storage
  • Testing
  • Commissioning