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Mega Risk Insurance Policy cover risks where the sum insured is more than Rs. 2,500 crores at any one location for Property Damage and Business Interruption combined.
Key Feature
For the purpose of this product Mega risks are those:
1.Insurances for total sum insured of Rs.2,500 crores or more at one location for property insurance, material damage and business interruption combined;
Under this the following coverages are proposed:
A.SECTION 1: Physical loss or damage Property (Non-marine)
B.SECTION 2: Machinery Insurance
C.SECTION 3: Business Interruption or Specified standing charges and or increased cost of working (Including MLOP)
D.SECTION 4: Marine Cargo Insurance
Coverage
Under this the following coverages are covered:
A. SECTION 1: Physical loss or damage Property (Non-marine)
B. SECTION 2: Machinery Insurance
C. SECTION 3: Business Interruption or Specified standing charges and or increased cost of working (Including MLOP)
D. SECTION 4: Marine Cargo Insurance
The coverage is all risk cover and exclusion based with add-ons as available in the international markets. However, the actual coverage will depend on the choice and option exercised by the customer and as agreed by the Reinsurer.
