Industrial All Risk Policy

In Industrial All Risk Policy, if any of the insured property is accidentally, physically lost, destroyed, or damaged during the period of insurance or any subsequent period, the insurer will pay the insured the value of the property at the time of its accidental physical loss, destruction, or damage, unless an excluded clause applies.

covers
Doesn't cover

Theft and burglary

Internal transit cover

Damage and loss from the fire and allied perils

Collapse or cracking of buildings

Faulty or defective design materials or workmanship

Damage caused by any wilful act or wilful negligence

Cessation of work, delay or loss of market or any other consequential or indirect loss

Larceny, act of fraud or dishonesty and disappearance, unexplained or inventory shortage

Damage caused by interruption of water supply, electricity, or fuel system or failure of the effluent disposal system

Corrosion, rust, extremes or change in temperature, dampness, dryness, seepage, wet or dry rock fungus, shrinkage, evaporation, loss of weight, pollution, change in colour, vermin, insects, marring or scratching

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