Scope & Structure

The Industrial All Risks (IAR) Insurance policy was fundamentally designed to cover large manufacturing industrial risks that had wider and more complex exposures which traditional Fire and Allied Insurance policies could not easily cater to. The policy was designed as a multi-line product offer a client the option to chose amongst various sections.

Section I – Material Damage including

  • Fire & All special perils
  • Burglary
  • Machinery Breakdown
  • Boiler Explosion
  • Electronic Equipment Insurance

Section II - Business Interruption

  • Following Fire & All Special Perils – Compulsory
  • Following Machinery Breakdown / Boiler Explosion / Electronic Equipment - Optional

Salient Features of IAR policy

  • Comprehensive, convenient and cost effective policy
  • Package policy of All Risk Nature.
  • Not a named peril policy
  • All perils covered except certain specific exclusions.
  • Tariff policy in Indian market
  • Single Document Policy
  • Losses (MD as well as BI) due to Burglary covered.
  • Transit Risk inside industrial compound covered
  • Considerable premium saving possible in MB cover due to lower rates.
  • No depreciation deducted from MB loss (Total or Partial) for Limited Life Equipments.
  • BI due to Fire & Allied perils - Compulsory.
  • BI due to Machinery Breakdown / Boiler Explosion / Electronic Equipment - Optional.
  • Insurance under IAR on Reinstatement value basis only except Stocks. Stocks on Market Value basis.
  • IAR policy not available for Petrochemical Risks

For Further Information Contact:

Debasish Mukherjee

Sr VP & Head – Corporate Business


+91-22-6655 8858
+91-22-6655 8868