INDUSTRIAL ALL RISKS POLICY Presentation

BENEFITS UNDER I.A.R. POLICY ON PAR WITH INTERNATIONAL PRODUCT ALL RISKS WITH WIDEST COVERAGE. ELIMINATION OF DEPRECIATION FOR MATERIAL DAMGES CLAIMS COST REDUCTION THROUGH ADDITIONAL DISCOUNTS - SECTIONS UNDER INSURANCE TO THE EXTENT OF 15% IS WAIVED UNDER SECTION-I TURBINE WARRANTY, EXCESS FOR CRANK SHAFT, ETC., NOT APPLICABLE FOR MACHINERY BREAKDOWN LOSS LIST OF EXCLUDED ITEMS APPLICABLE UNDER CONVENTIONAL MB POLICY STANDS DELETED. NO EXTRA PREMIUM FOR THEFT/ BURGLARY/ TRANSIT RISKS WITHIN THE COMPOUND. FIRE LOP IS IN-BUILT AND MLOP IS OPTIONAL. ADDITIONAL DISCOUNT FOR FIRE LOP EXTENSIONS UNDER LOP FOR FOUS (FAILURE OF UTILITY SERVICES) AND SUPPLIERS AND CUSTOMER PREMISES MAY BE OBTAINED AT AN ADDITIONAL PREMIUM

POLICY HAS 2 SECTIONS SECTION I MATERIAL DAMAGE SECTION II BUSINESS INTERRUPTION

SCOPE OF COVER: SECTION - I MATERIAL DAMAGE ALL TYPES OF ACCIDENTAL & PHYSICAL LOSSES OTHER THAN THE NAMED EXCLUSIONS

INCLUDES THE FOLLOWING SCOPE OF COVER INCLUDES THE FOLLOWING PERILS COVERED UNDER STD. FIRE & ALLIED PERILS, MACHINERY BREAKDOWN. BURGLARY BUSINESS INTERRUPTION

SUM INSURED - SECTION-I For building plant and machinery, furniture, fixtures and fittings on Reinstatement Value basis For stocks on Market value basis

EXCLUSIONS - SECTION - I EXCLUDED CAUSES EXCLUDED PROPERTIES

EXCLUDED CAUSES FAULTY OR DEFECTIVE DESIGN OF MATERIALS OR WORKMANSHIP, WEAR AND TEAR LOSSES DUE TO F.O.U.S. COLLAPSE OR CRACKING OF BUILDINGS

Larceny, Acts of fraud, unexplained inventory shortage EXCLUDED CAUSES (Contd…) Corrosion & rust Larceny, Acts of fraud, unexplained inventory shortage Willful negligence, cessation of work, loss of market War group of perils Nuclear group of perils Destruction of the property by order of public authority

EXCLUDED PROPERTY Money, cheques, securities of any description, goods held in trust or on commission, computer system records unless specifically covered. Vehicles licensed for road use Property in transit outside the premises

EXCLUDED PROPERTY (Contd…) Property or structures in the course of construction, demolition or erection Land, pavements, roads, runways, railways lines, etc., unless specifically covered Growing crops or trees Property damage as a result of its undergoing any process

EXCLUDED PROPERTY (Contd…) Property removed to other locations for a period exceeding 60 days Property undergoing repair/ alteration/ testing Property more specifically insured Property insured under a Marine Policy

SECTION - II BUSINESS INTERRUPTION SCOPE OF COVER LOSS OF GROSS PROFITS (MLOP OPTIONAL) INCREASE IN COST OF WORKING

SUM INSURED - SECTION II EXTRACTED FROM THE PREVIOUS YEAR’S PROFIT & LOSS ACCOUNT FACILITY OF RETURN OF PREMIUM CLAUSE

EXTENSIONS - SEC II Customers’/Suppliers’ Premises FOUS (Gas, Electricity, Water Supply) at terminal ends Option to Buy Back BI (Engg. portion) viz, BI due to MB, Boiler explosion, EEI.

EXCLUSIONS UNDER SECTION-II Insured’s lack of sufficient capital Any restrictions imposed by any public authority Loss of business due to causes such as cancellation of a lease, licence or order etc. Damage to Boilers, economisers, machinery, electronic installations and data processing equipment & MB of machinery N.B: Arising out of the above - MLOP Buy Back.

Important Conditions – Bearing on Claims Admissibility Forthwith notification and to furnish, within 15 days, an account of loss and particulars of all other insurances, if any. Temporary repairs only with consent (material alteration exclusion may be invoked for subsequent claim if any before permanent repair) Reinstate within 12 months or within extended time 12 months disclaimer period has to be borne in mind.