Industrial All Risk


The  Policy  consists of :

  • Section I   -  Material Damage and
  • Section II  -  Business Interruption

And covers  all risks/perils other than those which  are  specifically  excluded. 

The  cover  will  include  the  following perils/covers: 

  • Fire and all Special Perils
  • Burglary
  • Machinery Breakdown/Boiler Explosion/Electronic Equipment Insurance
  • Business Interruption  (Fire and all Special Perils)

Sum Insured

The policy  in  so  far  as  it  relates  to buildings, machinery,  furniture, fixtures, fittings &  electrical Installations shall be on Reinstatement Value basis only, while the stocks shall be covered on Market Value basis. 

Salient Features of IAR Policy 

  • No depreciation deducted in machinery breakdown total loss or partial loss claims
  • Transit risks within the premises held covered. 
  • Machinery/ equipment sent for repairs outside the premises upto a period of 60 days
  • Waiver of under insurance upto 15%

Compulsory Deductibles

Excess as mentioned in the Policy schedule.

Additional Clauses

Following   clauses  can be  attached  to  the  Policy   by adjusting or providing additional Sum Insured where applicable.

  • Agreed Bank Clause
  • Architects', Surveyors' and  Consulting Engineers'  Fees Clause  
  • Designation of Property Clause
  • Escalation Clause
  • Omission to Insure Additions, Alterations or  Extensions Clause 
  • Temporary Removal of Stocks Clause
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