Business Package Insurance provides comprehensive all-in-one protection for your business.
Whether you are in the business of manufacturing, importing and storing or retail, Business Package can be tailored to suit your business needs.
Customizable business insurance provides a range of different insurance types all under one policy – making it easy to insure your whole business with one policy.
- The Standard Fire and Special Perils Policy: also knows as Fire policy in short, protects properties and assets against various perils like Fire, Lightning, Explosion / Implosion, Aircraft Damage, Riot, Strike, Malicious damage, Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation, Impact Damage, Subsidence and Landslide including Rock slide, Leakage from Automatic Sprinkler Installations, Missile Testing operations, Bursting and/or overflowing of Water Tanks, Apparatus and Pipes, Bush Fire, Earth quake, Storm tempest Floods & inundation.
- Consequential Loss Policy: It covers loss of profit due to reduction in turnover arising from interruption / cessation of business following damage to the property insured by an insured peril, i.e. loss of gross profit & Increased cost of working during the period of interruption. This policy can be taken only in conjunction with Fire Policy or Machinery Breakdown policy. This policy is also known as Business Interruption Policy or Loss of Profit Policy.
This policy can be extended to cover loss of profit to the insured due to :
- Accidental failure of public electricity/gas/water supply
- Damage to customer’s premises due to perils covered under Fire Policy
- Damage to Supplier’s premises due to perils covered under Fire Policy
- Burglary and Housebreaking: It covers any loss or damage to the insured property by Burglary, Housebreaking or hold up and damage caused to the premises resulting from Burglary and/or Housebreaking.