Fire and Engineering Insurance

Corporate Fire and Engineering Insurance Policy

We offer products and services for businesses of all sizes. It is important that all types of risks that businesses are exposed to are adequately covered. With our wide range of business insurance solutions, now businesses can focus on their business.

Offers core solutions like Fire & Allied Perils Insurance and Fire Consequential Loss Insurance to all businesses. Even Large petrochemical complexes, state-of the-art power plants, highways connecting towns and cities, they are fraught with a multitude of risks throughout the development, construction and operation stages requiring the most comprehensive and complex insurance covers..

We offer engineering insurance that protects corporate from all sorts of risks associated with plant and achinery, erection of machinery, equipment’s and boilers, electronic equipment’s and a lot more. The insurance offered encompasses small items of equipment’s to huge plants and industrial complexes and facilities.

Types of Fire and Engineering:

  • Standard Fire and Special Perils Policy
  • Boiler and Machinery
  • Contractors All Risks / Erections All Risk
  • Consequential Loss (Fire) Insurance
  • Industrial All Risks Insurance
  • Erection All Risks / Storage – cum – Erection Insurance Policy
  • Electronic Equipment Insurance Policy
  • Machinery Loss of Profits Policy
  • Fire & allied perils, Flood, storm, tempest, cyclone, Earthquake, fire & shock
  • Collapse, Water damage

Coverage is on an ‘all-risks’ basis and in particular includes:

  • Fire, lightning, explosion, aircraft damage
  • Riot, strike, malicious act
  • Flood, inundation, storm, cyclone and allied perils
  • Landslide, subsidence and rockslide
  • Burglary and theft
  • Faults in erection
  • Human errors, negligence.
  • Short circuiting, arcing, excess voltage
  • Electrical and mechanical breakdown
  • Collapse, damage due to foreign objects, impact damages
  • Any other sudden, unforeseen, accidental damages not explicitly excluded.

Add-ons are available to extend your cover to:

  • Cross liability, Third-party liability, Cost of removal of debris
  • Express freight, overtime charges, Air freight, Additional customs duty, Escalation
  • Owner’s surrounding property, Storage risk at fabricator’s premises
  • Maintenance cover,

 Sum Insured :  Sum Insured should represent their new replacement values

Exclusions of the Standard Fire Policy:

The general exclusions are broadly classified as:

  • Fire due to own fermentation, natural heating or spontaneous combustion of stocks
  • Burning by order of any public authority
  • Explosion of boilers or steam generating vessels and machinery subject to centrifugal force by its own explosion or implosion
  • Pressure waves generated by aircraft
  • Total or partial cessation of work/retarding/interruption of any process or operations arising out of riot, strike, malicious damage
  • Burglary, housebreaking, theft, larceny in any malicious act
  • Impact damage by rail/road vehicle or animal belonging to the insured or employee or any occupier of the premises
  • Normal cracking, settlement, bedding down, upheaval of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials
  • Destruction or damage caused by forest fire
  • Excess amount mentioned in the schedule/policy i.e. the minimum amount of claim to be borne by the client
  • Loss or damage caused by war or warlike situations
  • Loss or damage by pollution or contamination except due to insured peril
  • Loss or damage to electrical machine/apparatus which is the source of fire
  • Architects’, surveyors’ and consulting engineers’ fees exceeding 3% and debris removal expenses exceeding 1% of claim amount
  • Any consequential losses

This is not an exhaustive list. Please refer T&C and wordings.

We provide above services for following General Insurance Companies:-  Religare Health Insurance Company Limited, Apollo Munich Health Insurance Company Limited, Bajaj Allianz General Insurance Co. Ltd., Bharti AXA General Insurance Company Limited, Cholamandalam MS General Insurance Co. Ltd., Future Generali India Insurance Company Limited, HDFC ERGO General Insurance Co. Ltd., ICICI Lombard General Insurance Co. Ltd. , IFFCO Tokio General Insurance Co. Ltd., L&T General Insurance Company Limited, Liberty Videocon General Insurance Company Limited, Max Bupa Health Insurance Company Ltd., National Insurance Co. Ltd., Reliance General Insurance Co. Ltd., Royal Sundaram Alliance Insurance Co. Ltd, SBI General Insurance Company Limited, Shriram General Insurance Company Limited, Star Health and Allied Insurance Company Limited, Tata AIG General Insurance Co. Ltd., The New India Assurance Co. Ltd., The Oriental Insurance Co. Ltd., United India Insurance Co. Ltd.,Universal Sompo General Insurance Co. Ltd.,

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