This policy is a Comprehensive Package Policy that covers almost all risks and perils, which a large industry may face during its operation. This policy covers Buildings, Machinery, Furniture, Fixtures, Fitting & electrical installations on Reinstatement value, while the stock is covered on market value basis. Under-insurance on each item of the schedule will be ignored if it does not exceed 15% of sum insured. Policy also covers equipment and machiner...
A job requiring a payment and performance bond will usually require a bid bond, to bid the job. When the job is awarded to the winning bid, a payment and performance bond will then be required as a security to the job completion. For example, a contractor may cause a performance bond to be issued in favor of a client for whom the contractor is constructing a building. If the contractor fails to construct the building according to the specifications laid ou
What is the difference between All Risks Cover and Perils based cover?
Under a normal building combined perils based policy, the insurer only covers defined events, i.e. listed perils such as fire, lightning, explosion, storm, wind, water, hail, theft, malicious damage, earthquake etc. In other words, if the cause of the loss or damage is not one of the listed perils, there is simply no cover. This is a restrictive form of cover.
Assets All Risks pol
To give personalized and unmatched service to clients and to make sure their needs have been met and in the process contribute to the growth of sustainable and prosperous communities.
