Property Damage & Business Interruption

Fire Insurance

Fire Insurance policy covers property damage due to Fire & Allied perils. Perils covered under policy are Fire, Lightning, Explosion/Implosion, Aircraft Damage, RSMD, Impact damage, Subsidence and landslide including Rock slide, bursting and overflowing of water tanks, apparatus and Pipes, Missile testing operations, Leakage from Automatic Sprinkler Installation, Bush Fire.

Add On Covers like Earthquake, Terrorism, STFI (Storm, Tempest, Flood & Inundation), Spontaneous Combustion are recommended for better risk cover. For complete details, please click on this link:

Fire Loss of Profits (FLOP)

Covers loss of profit due to interruption of business consequent upon loss or damage sustained by property insured due to insured perils. To report a Claim FLOP (Fire Loss of Profit) policy, it is mandatory to have a Claim under Fire policy.

Industrial All Risk

IAR Insurance Policy provides cover against Material Damage and Business Interruption for Industrial Units having sum insured of more than INR 100 crores. This policy provides cover against all risks/ perils other than those which are excluded in the Policy.

IAR policy comprises of 2 sections:
  • Material Damage
  • Machinery Breakdown
  • Fire Loss of Profits (FLOP)
  • Machinery Loss of Profits (MLOP)