Industrial All Risk Insurance is a wider cover than traditional Fire Policy. It is an all risk policy covering a wide range of perils such as fire and allied perils, burglary, accidental damage, breakdown as well as business interruption.
It is to offer comprehensive and adequate protection against

(a) Material Damage: Accidental physical loss, destruction or damage.

(b) Business Interruption: Loss of gross profit due to business interruption by Material Damage.

(c) Machinery Loss of Profit is Optional (MLOP)

Now, you are protected when installing machinery or equipment in your factory or office. The policy covers sudden and unforeseen material damages to electronic equipment due to any cause like Fire, Riot & strike & allied perils, Explosion, Machinery Breakdown, Short circuit & Voltage Fluctuations, Theft, Burglary, human error, falling object & entry of foreign bodies, etc.

Material damage to Hardware is covered under the basic policy. However, the policy also covers inbuilt systems without any separate breakup of Sum Insured.

Contractors all risk insurance is to offer comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant and equipment and construction machinery, as well as for third party claims in respect of property damage or bodily injury arising in connection with the execution of a Civil Engg. Project.

Ordinarily a civil engineering contractor tenders for a job on the basis of design specifications provided by the principal or soil conditions, weather conditions etc. Contractor is required to construct the civil engineering structure on the basis of drawings and specifications for materials prescribed by the architect or structural engineers. His responsibility is restricted to construct as per the specifications and designs of the architect and / or designer.

Machinery Breakdown policy is an ideal cover for plant and machinery, to cover the cost of repairs or replacement of damaged parts as a result of accidental Electrical and Mechanical Breakdowns.

Cover is granted during the time machine is in operation or rest or in process of dismantling and overhaul.

Damage due to fault material, human error / lack of skill in operation by workers / operators, faulty construction, carelessness, overheating of parts, entry of foreign body, short circuits, faults in erection failure of operation of safety devices, wear & tear.

The policy covers sudden and unforeseen material damages to Electronic equipment due to any cause like, Fire, Riot, strike & allied perils, Explosion, Machinery Breakdown, short circuit & voltage fluctuations, Theft, Burglary, human error, falling object & entry of foreign bodies, etc.

Material damage to Hardware is covered under the basic policy. However, the policy also covers inbuilt system software without any separate breakup of Sum Insured.