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Electronic equipment such as Computers Medical Bio-Medical Micro Processors Audio-visual equipment etc.
We Cover
Electronic equipment such as Computers Medical Bio-Medical Micro Processors Audio-visual equipment etc.
PERILS COVERED
The scope of the cover can be divided into two sections
Section 1:
Fire & all covers
Burglary and theft
Machinery breakdown / Boiler explosion / Electronic Equipment Insurance
Section 2:
Consequential Loss following Fire ( FLOP ).
Machinery Loss of Profit.
WHAT IS NOT COVERED
The exclusions are elaborated under two sections : excluded causes & excluded property
Excluded causes:
Faulty design materials workmanship and construction
Interruption loss due to failure of gas electricity and water supply
Collapse or cracking of buildings
Larceny fraud or dishonesty
Willful negligence on the part of insured
War group of perils
Nuclear group of perils
Destruction of property by public order
Excluded Property
Money cheques securities of any description jewellery works of art goods held in trust or on commision computer system records
Vehicles licensed for road use
Property in transit outside premises
Properties or structures in course of erection or demolition unless specifically covered.
Land pavements railway and road lines until specifically covered
Property damaged as a result of its undergoing some process
Livestock growing crops or trees
Property removed to other locations exceeding 60 days
Loss payable to the property covered under marine / other policies
Section II
Insured's lack of sufficient capital
Any restrictions imposed by any public authorities
Loss of business due to cancellation of order / Lease
Damage to boilers machinery economizers and data equipment
ADDITIONAL COVERS AVAILABLE
1. Architects,Surveyors and Consulting Engineers excess of 3% claim amount)
2. Removal of Debris (in excess of 1% claim amount)
3. Omission to Insure additions, alterations or extensions
4. Temporary Removal of Stocks Clause
5. Startup Expenses
6. Terrorism
