FIRE AND ADDITIONAL PERILS INSURANCE

WHAT IS COVERED?

Cover the loss or damage of property caused by fire, lightning, explosion of gas used for domestic purpose and other additional perils or business interruption extension are available up on request.

BUSINESS INTERRUPTION INSURANCE (OPTIONAL COVER)


Firstly, you are required to choose your basic cover under the section 1 before you select this optional cover of section 2 of business interruption insurance.
 

We will cover for losses or damages resulting from an interruption to your business due to losses or damages under section 1 of fire insurance.
 

Items of property can be covered in this insurance should be loss of gross profit(Difference Basis), standing change, gross revenue  increased cost of working, wages to retained employees, auditor fees, gross rental.
 

Your insurance cover is not completed with just Fire Insurance of section 1. You need to cover business interruption insurance as well so that you can protect your financial losses.

 

 

STANDARD EXCLUSIONS

  • Deductible stated in the policy
  • Loss by order of any Public Authority
  • Lack of sufficient capital for timely restoration or replacement of property damaged or lost
  • Pollution
  • War and Civil War
  • Cyber Attack
  • Terrorism
  • Political Risks
  • Information Technology Hazards
  • Radioactive Contamination
  • Nuclear Energy Risks
  • Sanctions Limitation
  • Asbestos
  • Infectious Diseases

WHAT IS THE RISK INFORMATION FOR OUR PRICING ?

These are some of the important risk information which we need to obtain from you so that we can indicate you a quotation or premium charge:

  • Client information
  • Nature of Business: e.g. Residence, Restaurant, Hotel, Condominium, Garment Factory.
  • Locations of risks: where you wish to cover under your policy
  • Property Insured and Sum Insured
  • Length of Indemnity Period, if you choose business interruption cover
  • Building Construction Class: e.g. Class A: 100% Concrete and steel structure; Class B: 50% Concrete and 50% Wood; Class C: Wood higher than 70%
  • Fire Equipment Appliance: e.g.: Portable Fire Extinguishers; Hose Reels or Hydrants; Smoke or Heat Detectors; Sprinklers; Own Fire Truck
  • Loss History in the past 5 years
  • Expiry date if currently covered by any insurance company
  • other underwriting information to be required by us.

 

 

 

 

DOWNLOAD DOCUMENTS

PROPOSAL FORM