Commercial Care Insurance Policy

This is a package policy of various sections available to small and medium size commercial houses not having manufacturing or industrial risks, with sum insured upto Rs. 100 Crores. This policy is a package policy, designed to offer a range of benefits, arranged in different sections. It is a flexible package which not only gives the choice to identify the risks against which the proposer would like to protect his/her business, it also lets the propser determine the extent of cover against each indentified risk. Thus, one can develop ones very own customized policy in accordance with the specific needs.

The Policy Covers

II. Fire Loss of Profit : Covers loss due to interruption or interference with the business carried on by the proposer at the premises specified and covered under Section I, in consequence of loss, destruction or damage indemnifiable under Section I subject to sum insured.

III. Machinery Breakdown : Covers all electrical & mechanical applicances, against loss or damage due to unforeseen and sudden accidental physical damage caused by and solely due to mechanical or electrical breakdown.

IV. Electronic Equipments / Appliances : The electronic appliances, equipment or electronic installations and portable computers are covered against damage or breakdown under this Section. Computer software and programs (other than those developed in-house), data & data carrying devices, can also be covered under the policy.

V. Burglary & Housebreaking : Covers plant and machinery, furniture, fixtures and fittings, electrical installations and stock and stock-in-trade in the business premises and damage to the business premises or safe resulting from burglary or housebreaking, or any attempt threat.

VI. Money Insurance : Covers loss of money arising out of a accident or misfortune while in transit or its loss from the safe / till in the business premises.

VII. Baggage : Coverage is available against the loss of baggage due to accident or misfortune during any official journey undertaken outside the city by the proprietor, partner, principal officer or a permanent employee in your business.

VIII. Fixed Plate Glass & Sanitary Fittings : Covers loss or damage (due to accidental breakage) of fixed plate glass and sanitary fittings as well as frames or framework in the business premises.

IX. Neon Sign/Glow Sign/Hoarding : Covers Neon signs & Hoarding belonging to and fixed in the business premises against loss or damage due to malicious damage, storm, tempest & flood.

X. Personal Accident : Covers Death, Permanent Total / Partial Disablement and Temporary Total Disablement.

X.B. Legal Liability Towards Third Parties : Covers legal liability to pay compensation to third parties, in accordance with the Indian Law subject to limitations.

XI. Infidelity/Dishonesty of Employees : Covers against any direct pecuniary loss caused by the dishonestact / infidelity of employees.

XII A. Legal Liability Towards Employees :Any legal liability towards employees under Fatal Accidents Act 1855 / Workmen’s Compensation act 1923 can be covered under this Section.

XII B. Legal Liability Towards Third Parties : Covers legal liability to pay compensation to third parties, in accordance with the Indian Law subject to limitations.

Major Exclusions :

1. The loss or damage due to war and / or warlike perils, nuclear and / or atomic radiation.

2. Loss or damage due to wear and tear, gradual deterioration or slowly developing flaws.

3. Consequential loss of any kind.

4. Loss of or damage caused by or due to action of any lawfully constituted authority or Governmentbody.

5. Loss or damage for which the manufacturer or supplier or repairer or transporter or any other third part is responsible either in law or under a contract.

Apart from the above all the standard exclusions of the respective policies shall also be applicable for the respective sections.

Premium Discounts/Loading

• The rate will be subject to suitable discount / loading according to the special character of the risks.
• Choosing more than five Sections entitles to attractive discounts in the premium rates.
• The proposer can also enjoy discounts from 5% to 20% for a favourable claim ratio. Likewise, there could be loading on the standard premium for a high claim ratio.