We Cover

• Buildings
• Machinery and Accessories
• Stock and Stock in process
• Contents including furniture Fixture

What can be covered?

• Private dwelling houses, Schools, Colleges, Universities, Hostels, Hospitals, Banks, Offices, Shops, Hotels, Restaurant etc.
• Industrial / Manufacturing Risks
• Utilities located outside industrial/manufacturing risks
• Machinery and Accessories
• Storage Risk ( Warehouses and Godowns in private of public occupation /or, outside the compound of industry)

Perils Covered

• Fire
• Lightning
• Explosion Boiler or gas used for domestic purpose only

The policy does not cover any loss if loss or damage to property due to

• Spontaneous combustion fermentation
• Burning of property by order of any Public Authority
• Its undergoing any heating or drying process
• Explosion of boilers (other than domestic boilers)
• War or war like operations
• Defective design workmanship, defective materials
• Terrorism Activities

Add on Cover

This additional coverage can be extended to include other perils by the additional premium;

• Riot Strike Damage
• Aircraft damage
• Cyclone Flood
• Impact damage
• Subsidence landslide
• Bursting or overflowing of tanks
• Explosion

Note

• Particulars of cover liability and exclusion given above are not complete or exhaustive.
• Our nearest Branch Office may be approached for complete details.

Pre-requisite for the Policy

• This policy can be taken only if a Standard fire and Special Perils Policy exists for the risk.

Note

• Particulars of cover liability and exclusion given above are not complete or exhaustive.
• Our nearest Branch Office may be approached for complete details.

Industrial All Risk Insurance Policy

Eligibility

All Industrial risks(other than risks ratable under Petrochemical Tariff) having a certain overall Sum Insured and above under one policy and in one location in Bangladesh shall be eligible for Industrial All Risks Policy.

Policy

The policy form given at Annexure-2 consists of;
Material Damage only and covers all risks/perils other than those which are specifically excluded.
(When a Financial Institute is involved as joint insured an agreed Bank clause at Annexure-4 is to be attached)

Risks Cover

• Fire all covers
• Burglary and theft
• Machinery breakdown / Boiler explosion / Electronic

Equipment Insurance

• Consequential Loss following Fire

Excluded causes

• Faulty design materials workmanship and construction
• Interruption loss due to failure of gas electricity and water supply
• Collapse or cracking of buildings
• Larceny fraud or dishonesty
• Willful negligence on the part of insured
• War group of perils
• Nuclear group of perils
• Property removed to other locations exceeding 60 days
• Insured’s lack of sufficient capital
• Any restrictions imposed by any public authorities
• Loss of business due to cancellation of order / Lease
• Damage to boilers machinery economizers and data equipment

Conditions

The following terms and conditions are applicable for compliance of Fire(IAR) Tariff In respect of Textile, Jute Mill, Garments Factory, Spinning/Composite Mills, Sweater Factory, Hosiery and Thread Factory, Knitwear/Denim/Textile Dyeing/Textile Printing/Textile Finishing Factory, Power Loom Factory, Woolen Factory, Sericulture Mills using natural and Synthetic materials:-

• Self-insurance applicable to IAR Policies.
• Additional Self-insurance for more than one recoverable loss within the past 3(Three) years.
• All project must be surveyed.

Note

• Our nearest Branch Office may be approached for complete details.