Mr. Kishan Singh owns a textile business in Vadodara and has rented an office in a commercial building for technical operations. Adjacent to it is a Tiffin Service office where fresh food is cooked and delivered to the employees. Once, due to the negligence of the workers in the adjacent office, the fire erupted and […]
What is the liability of Insurer in case of Reinstatement of machinery destroyed in a covered peril under Factory and Warehouse Insurance?
Factory and warehouse insurance plays an important role in an industrial set up which is involved in the manufacturing and storage of goods as well. It is a crucial insurance policy that gives financial coverage in case of loss or damage to the building, and machinery in and outside the premises. The factory and warehouse […]
Things to know about a fire insurance policy
At least six people died when a fire erupted at a four-story building of Excel Greentech, an LED packaging office in Noida’s Sector 11. It was lunchtime, and out of 40 staffers, around 15 were at the office, while others went out for lunch. So, massive was the fire, that an adjacent factory located around […]
Perils That Affect the Profitability of Your Factory & Warehouses
While setting up a new business, one of the things on your priority list is to establish a decent office for all the commercial work suitable as per your business requirements. For manufacturers, factories and warehouses also hold crucial importance for the proper functioning of their business. But it is often seen that while a […]
Who can take the construction all-risk policy?
If you are into the construction business or have been associated with it in any way, you might have a fair idea of how susceptible your construction site is. A construction site is vulnerable to various kinds of losses or damages which can arise from theft, legal claim, damages, and more. As a contractor, it […]
What is Excess in Engineering All Risk Insurance and how does it affect the premium?
The engineering all-risk insurance policy covers the insured against any unforeseen and physical loss of or damage to the insured items. Such damage to plants or machinery may necessitate its repair or replacement. In engineering all-risk insurance policies, an excess clause is present. The excess clause states that the asset owner must bear the minimum […]