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CORPORATE INSURANCE

Property Insurance

Property Insurance refers to many kind of insurance products such as Fire Insurance, Burglary Insurance etc which are usually taken to cover financial loss against physical damage/lost to Property asset of an insured such as building construction cost, plant & machinery & stocks etc. Such insurances are majorly significant for those insured who are in business of manufacturing, construction or any other industry such as retailers, traders, agricultural etc where business income is dependent on physical asset of some nature.
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Products of Property Insurance

1. Standard Fire & Special Peril Insurance
2. Burglary Insurance (including theft)
3. Industrial All Risk Insurance(IAR)
4. Contractor All Risk Insurance(CAR)
5. Erection All Risk Insurance(EAR)
6. Machinery Breakdown Insurance(MBD)
7. Electronic Equipment Insurance(EEI)
8. Portable Electronic Equipment Insurance(PEEI)
9. Business Interruption Loss
What can be covered under Property Insurance?

Property Insurance may be taken for entire physical asset of an Individual/Corporate/Organization irrespective of their actual or consistent movement. Some of the example of those physical assets are as under:-

  1. Building including Plinth of Foundation
  2. Furnitures & Fixtures
  3. Plant & Machinery
  4. Raw Materials
  5. Stock in process and Finished Stock
  6. Finished Product at Manufacturing location/Sales Point/Distributor point etc
  7. Cash in Safe
  8. Property Insurance may be taken Before Construction & After Construction of Bridge, road, Railway line, manufacturing Plant, Energy Project such as Hydro project, Solar Power Project, Solar, Thermal, Nuclear, Agriculture and many other areas
Who should take Property Insurance?

Individual may take property insurance for their home, shops, retail outlet, show room, offices etc. Manufacturer may take property insurance for their plants, offices, stocks, finished products, raw materials etc. Contractors may take property insurance for what they take contract for such as roads, bridges, railway line, energy project etc. Traders may take property Insurance for what physical asset they trade in such as gold, bullion, chemical, rice, wheat, pulses etc.

Similarly, now a days, every individual or organization has some physical assets in which their savings, investment, capital are heavily infused. And damage to these physical asset may result in to gross financial strain to their owner and may even lead to their collapse. Thus property Insurance is important.

Does Property Insurance cover only Natural Calamities?

It is common misunderstood that Property Insurance covers insurance against Natural calamities or Fire only. However it is not completely true, There are various Products of Property Insurance which covers Natural Calamities, Fire, other man made losses such as riot, strike, terrorism, bush fire, Theft, Burglary and many other cause of losses.

What decide cost for Property Insurance Premium?

Property Insurance cost majorly depends on Geographical location, type of business operation and coverage value.

Does Property Insurance cover land value as well?

No. In any event of loss that Property Insurance covers, what only diminishes are things built over land but land never diminished. Thus there is no concept of covering land value in property Insurance.

Standard Fire & Special Perils Insurance(SFSP)

People often misunderstand, use of this insurance only for, physical damage due to fire only. However, Fire Insurance covers not only losses due to Fire but also 12 other special perils including many additional coverage. Fire Insurance is basically an umbrella cover which covers physical asset of an insured from many Natural Calamities/Act of God Perils(AOG Perils) including many other perils which usually occur during a usual business operation.
Coverage Under Standard Fire & Special Perils Insurance(SFSP)?
  1. Fire
  2. Lightning
  3. Explosion/Implosion
  4. Aircraft damage
  5. Riot, Strike and malicious damage
  6. Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  7. Impact Damage
  8. Subsidence and landslide including rockslide
  9. Bursting and/or overflowing of water tanks, Apparatus, and pipes
  10. Missile testing operations
  11. Leakage from automatic sprinkler installations
  12. Bush fire
Additional Coverage under Standard Fire & Special Perils Insurance(SFSP)?
  1. Earthquake
  2. Terrorism
  3. Storm Tempest Flood Inundation
  4. Reinstatement Value Clause
  5. Local Authority Clause
  6. Good held in trust clause
  7. Combustion
  8. Forest Fire
  9. Omission to insure, additions, alteration and exclusion clause
  10. Leakage and contamination cover
  11. Loss of rent
  12. Start up expenses
  13. Additional expenses of alternative rent or accommodation
  14. Escalation clause
  15. Enhanced amount of Removal of debris
  16. Impact damage by external vehicle
  17. Enhancement amount of Consultant, Chartered Account, Engineer, architect etc
  18. There are many other Additional coverage under this insurance depending upon nature of industry & occupancy of location
What are the Special Types of Fire Insurances?

Special types of Fire insurance are designed only for stocks of an insured since it is usually a common situation for any Insured where their stocks are placed at many location with different value.

Floater Policy: This policy is issued only for the stocks, stored in warehouses/godowns at various places but belonging to the policy holder. This policy issued to stocks in godowns where inter godown movement of stocks is very frequent and where it is not possible to record each and every inward and outward movement of stocks cannot be monitored. Policy holder can take the policy for one sum insured which is floated over all the godowns.

Declaration Policy: This type of policy is useful where there are frequent fluctuations in stocks / stock values and to avoid the under insurance (insurance of lower value) of the stock. Based on the pre-agreed terms the stock value to be declared periodically say monthly and the premium at the year-end (Policy year) is worked out on the average of the stock value declared and excess premium if any will be refunded to the policy holder.

Floater Declaration Policy: It is combination of the above-mentioned policies i.e. stock lying at various locations and the value of stock fluctuating.

Burglary Insurance

Burglary Insurance as it sounds covers loss or damage to physical asset of insured to an insured location while attempted or occurred event of Burglary. Since Burglary happens through forceful entry however by paying extra premium, theft may also be allowed to covered in Burglary Insurance. This is because of Theft cover is an add on cover of Burglary Insurance and usually does not come by default.
Want to know about special types of Burglary Insurances?

Special types of Burglary insurance are designed only for stocks of an insured since it is usually a common situation for any Insured where their stocks are placed at many location with different value.

What is Floater Policy?

This policy is issued only for the stocks, stored in warehouses/godowns at various places but belonging to the policy holder. This policy issued to stocks in godowns where inter godown movement of stocks is very frequent and where it is not possible to record each and every inward and outward movement of stocks cannot be monitored. Policy holder can take the policy for one sum insured which is floated over all the godowns.

What is Declaration Policy?

This type of policy is useful where there are frequent fluctuations in stocks / stock values and to avoid the under insurance (insurance of lower value) of the stock. Based on the pre-agreed terms the stock value to be declared periodically say monthly and the premium at the year-end (Policy year) is worked out on the average of the stock value declared and excess premium if any will be refunded to the policy holder.

What is Floater Declaration Policy?

It is combination of the above-mentioned policies i.e. stock lying at various locations and the value of stock fluctuating.

Equipment Breakdown Insurance

We are in digital era where everything is working on some sort of mechanical/electronical equipment. In any business operation, It is important to have lesser recovery time under event of equipment breakdown so thus necessity of equipment break down insurance arises.
What does Equipment Breakdown Insurance Cover?

Equipment Breakdown Insurance basically covers repair & replacement cost under an event of accidental but electrical/electronical/mechanical breakdown of an equipment/machinery which could be due to internal or external causes. Equipment or machinery could be at work or rest or being dismantled while occurrence of such losses.

Such breakdown could occur due to :-

  1. Short circuiting, excessive voltage & electrical arcing
  2. Faulty design or material after warranty period
  3. Falling, Impact or collision
  4. Entry of foreign bodies
  5. Bursting or disruption or turbines, compressors, cylinders, of steam engines, or other apparatus subject to centrifugal force, internal pressure
What are types of Equipment Breakdown Insurance?

Although similar, Machinery Breakdown and Electronic Equipment policies have specific differences that set them apart. The main difference is what they cover the terms ‘Machinery’ and ‘Electronic Equipment’ refer to two different types of apparatus.

Categories of Equipment Breakdown is made which as follows, depending upon mode, nature of operation  & output of a machinery/equipment,

Machinery Breakdown Insurance (MBD)

Machinery Breakdown Insurance is more largely applicable for electrical and mechanical related items Refrigerator, Printing press, lift etc. Coverage is same as being stated above in Equipment Breakdown Insurance.

Electronic Equipment Insurance ((EEI)

This has more relevance to those equipment which has got semiconductor based Chips & software programs which may have all or partial result in output of machine such as  computer, server, Electronic Weighing machines, Electronic Medical Equipment etc. In addition to what is being stated in Equipment Breakdown insurance coverage, EEI Insurance also covers expenses against recovery of loss data due to admissible claim event.

Portable Electronic Equipment Insurance (PEEI)

PEEI is almost similar to above mentioned Electronic Equipment insurance but it covers portable electronic items only such as mobile, I pads, Laptops. This is an All risk based insurance which not only covers as what is stated in above mentioned Electronic equipment insurance but also covers losses on occurrence of burglary & theft outside insured location  as well.

What are the general exclusion under Equipment Breakdown insurance?
  1. Losses or damage which are coverage under fire insurance
  2. Usual wear & tear conditions arising out or ordinary usage
  3. Loss or damage for which manufacturer, supplier, repairer of equipment is responsible either by law or contract or warranty
  4. Gradually developing flaws, cracks, de surfacing, fractures in any part not resulting in immediate stoppage or repair but will occur at some regular repair interval
  5. Loss or damage resulting due to over load, experiment

Business Interruption/Consequential Loss Insurance

It has been observed that, Restoration period has been significant larger during major claim event which results into total shutdown of Property. During these events, A business owner, not only goes through, deepened financial strain in restoring their property but also due to unavailability of revenue so thus profit during these restoration period. Additionally. Insured needs to bear all standing charges as well such as labour cost, maintenance cost etc during restoration period.

That’s is why necessity of business interruption insurance arose which compensates Insured against financial loss of profit plus standing charges during restoration period if claim event is admissible under their usual material damage insurance such as Fire Insurance, Industrial all risk insurance, Machinery breakdown Insurance.

The categories of Business Interruption Insurance are:
Fire loss of Profit Insurance(FLOP)

Insurance receives compensation against financial loss of profit including standing charges during restoration period when a claim event is covered under Standard Fire & Special Allied Insurance Policy of insured.

Machinery Breakdown loss of Profit Insurance(MLOP)

Insurance receives compensation against financial loss of profit including standing charges during restoration period when a claim event is covered under machinery Breakdown Insurance or Electronic Equipment Insurance.

Industrial All Risk Insurance

Larger manufacturing facilities/Plants usually have huge capital cost invested in multiple section & branch in single location. Additionally, Multiple operations at large scale of productivity occurs depending upon market demand & supply equation. That’s why it becomes difficult for an insured to take each related property Insurance(such as Fire Insurance, Burglary, MBD etc) for their larger facilities so thus maintaining their policy warranty, Sum Insured adequacy etc.

That’s where importance of “INDUSTRIAL ALL RISK” Insurance takes place where a business owner can take one single policy for covering entire insurable interest in one single policy which is also a much wider coverage insurance in itself.

The Industrial All Risks (IAR) Insurance policy covers large manufacturing industrial risks that had wider and more complex exposures which traditional Fire and Allied Insurance policies could not easily cater to. The Policy covers not only the Physical Losses or damage but also consequential losses arising out of the business interruption due to accidental unforeseen physical loss or damage to property. Customer has an option to chose the among various sections of the policy.
Section-1 Material Damage

Coverage Under  Standard Fire & Special Perils Insurance(SFSP)

  1. Fire
  2. Lightning
  3. Explosion/Implosion
  4.  Aircraft damage
  5.  Riot, Strike and malicious damage
  6.  Storm, Cyclone, Typhoon, Tempest, Hurricane, Tornado, Flood and Inundation
  7.  Impact Damage
  8.  Subsidence and landslide including rockslide
  9.  Bursting and/or overflowing of water tanks, Apparatus, and pipes
  10.  Missile testing operations
  11.  Leakage from automatic sprinkler installations
  12.  Bush fire
  13. Burglary including theft

    Equipment Breakdown
    What does Equipment Breakdown Insurance Cover?
    Equipment Breakdown Insurance basically covers repair & replacement cost under an event of accidental but electrical/electronical/mechanical breakdown of an equipment/machinery which could be due to internal or external causes. Equipment or machinery could be at work or rest or being dismantled while occurrence of such losses.Such breakdown could occur due to :-
    1. Short circuiting, excessive voltage & electrical arcing
    2. Faulty design or material after warranty period
    3. Falling, Impact or collision
    4. Entry of foreign bodies
    5. Bursting or disruption or turbines, compressors, cylinders, of steam engines, or other apparatus subject to centrifugal force, internal pressureWhat are types of Equipment Breakdown Insurance:-
      Although similar, Machinery Breakdown and Electronic Equipment policies have specific differences that set them apart. The main difference is what they cover the terms ‘Machinery’ and ‘Electronic Equipment’ refer to two different types of apparatus.Categories of Equipment Breakdown is made which as follows, depending upon mode, nature of operation  & output of a machinery/equipment,

Machinery Breakdown Insurance(MBD)

Machinery Breakdown Insurance is more largely applicable for electrical and mechanical related items Refrigerator, Printing press, lift etc. Coverage is same as being stated above in Equipment Breakdown Insurance.

Electronic Equipment Insurance((EEI)

This has more relevance to those equipment which has got semiconductor based Chips & software programs which may have all or partial result in output of machine such as  computer, server, Electronic Weighing machines, Electronic Medical Equipment etc. In addition to what is being stated in Equipment Breakdown insurance coverage, EEI Insurance also covers expenses against recovery of loss data due to admissible claim event.

Portable Electronic Equipment Insurance(PEEI)

PEEI is almost similar to above mentioned Electronic Equipment insurance but it covers portable electronic items only such as mobile, I pads, Laptops. This is an All risk based insurance which not only covers as what is stated in above mentioned Electronic equipment insurance but also covers losses on occurrence of burglary & theft outside insured location  as well.

Section-2 Business Interruption/Consequential Loss

It has been observed that, Restoration period has been significant larger during major claim event which results into total shutdown of Property. During these events, A business owner, not only goes through, deepened financial strain in restoring their property but also due to unavailability of revenue so thus profit during these restoration period. Additionally. Insured needs to bear all standing charges as well such as labour cost, maintenance cost etc during restoration period.

That’s is why necessity  of business interruption insurance arose which compensates Insured against financial loss of profit plus standing charges during restoration period if claim event is admissible under their usual material damage insurance such as Fire Insurance, Industrial all risk insurance, Machinery breakdown Insurance.

  1. Fire loss of Profit Insurance(FLOP) : – Insurance receives compensation against financial loss of profit including standing charges during restoration period when a claim event is covered under Standard Fire & Special Allied Insurance Policy of insured.
  2. Machinery Breakdown loss of Profit Insurance(MLOP) : – Insurance receives compensation against financial loss of profit including standing charges during restoration period when a claim event is covered under machinery Breakdown Insurance or Electronic Equipment Insurance.

Additional Coverage under IAR Policy

  1. Reinstatement Value Clause
  2. Local Authority Clause
  3. Good held in trust clause
  4. Combustion
  5. Forest Fire
  6. Omission to insure, additions, alteration and exclusion clause
  7. Leakage and contamination cover
  8. Loss of rent
  9. Start up expenses
  10. Additional expenses of alternative rent or accommodation
  11. Escalation clause
  12. Enhanced amount of Removal of debris
  13. Impact damage by external vehicle
  14. Enhancement amount of Consultant, Chartered Account, Engineer, architect etc
  15. There are many other Additional coverage under this insurance depending upon nature of industry & occupancy of location

General Exclusion under IAR Policy

Section-1 (Material Damage)

IAR Policy doesn’t cover loss resulting from interruption of or interference with business directly or indirectly attributable to:

  • Faulty or defective design material or workmanship
  • Interruption of the water supply, gas, electricity or fuel system or failure of the effluent disposal system
  • Collapse or cracking of building
  • Act of fraud or dishonesty
  • Larceny
  • Coastal or river erosion
  • Normal settlement or bedding down of new structures
  • Any wilful act or wilful negligence on the part of the insured
  • Cessation of work, delay
  • War invasion or war like situation
  • Nuclear weapons/ionising radiations or contamination by radioactivity.
Section 3 (Business Interruption)

IAR Policy doesn’t cover loss resulting from interruption of or interference with business directly or indirectly attributable to:

  • Any restriction or reconstruction or operation imposed by any public authority
  • The insured’s lack of sufficient capital for timely restoration or replacement of property lost destroyed or damaged
  • Electronic installation computer and data processing equipment
  • Deliberate erasure loss distortion or corruption of the information

Project Insurance

India is one of the most rapidly growing economies in the world. So with growing economy, development in basic & modern infrastructure also grows, which leads into initiative, laying foundation stone, and development of infrastructure projects of all kinds such as new roads, highways, bridges, railway, ports, energy projects, basic public work such as waste management, electricity transmission, water management etc.

Therefore, It was always an essential need of special type of insurance which could provide comprehensive coverage to insured against their financial investment made towards these projects. Here, in Project Insurance, Insured could be “Principal” who allocates contract work for these projects or “Contractor” itself who receives contracts of work as allocated by Principal. Categories of Project Insurance are as follows.
Contractor All Risk(CAR) Insurance

This is most suitable insurance solution for project where majority of scope of work is towards civil construction such as Road, Bridges, Irrigation Canal, Building, Mall, Hydro project, Airport etc. This insurance covers material damage under scope of work during the execution phase of project until testing & commission of project.

This insurance starts covering all material right start from arrival of material at project site until completion/commission of project. Coverage may be extended to maintenance period as well after commission of project.

Some of the elements of risk which are covered under this insurance are perils cover under fire insurance, burglary, theft, collision or drop of heavy/large material from cranes, malicious damage, Act of God perils, short circuit, testing, explosion, insulation failures etc.

Additional Coverage under CAR Policy
  • Advance loss of profit  including higher inflated cost for completion, due to delay in project
  • Delay in start up expenses
  • Contractor plant & machinery
  • Additional custom duty.
  • Third party liability including cross liability.
  • Offsite storage / Storage at fabricators’ premises / workshop.
  • Owners’ surrounding  property.
  • Clearance  &  removal  of  debris.
  • Express  freight, over  time, holiday  wages.
  • Air freight.
  • Expediting costs including air freight, express freight.
  • 50 / 50 clause.
  • 72 hours clause.
  • Debris removal – specific sum has to be opted.
  • Professional fees  – specific sum has to be opted.
  • Loss minimization expenses – specific sum has to be opted.
  • Free automatic reinstatement up to full sum insured.
  • Waiver of the contribution clause.
  • Waiver of subrogation clause.
  • Amendment in fire fighting endorsement.
  • Construction plant & machinery (only for limited value & covers).
  • Valuable documents – restricted to Rs 50.00 lacs.
  • Design defect.
  • Maintenance / Extended maintenance.
  • Escalation in project value.
  • Continuity in the cover during the operational phase for the unit / plant tested but awaiting integral testing.
  • Cover for the contract works taken over and put to us.
  • Earthquake.
  • Terrorism.
  • There could be many other additional coverage depending upon nature of project
General exclusion under CAR Policy
  1. Wilful act or negligence
  2. Inventory loss
  3. Consequential loss
  4. Contractual Liabilities
  5. War or alike circumstances
  6. Loss of damage due to nuclear or radioactive reaction, contamination etc
  7. Normal wear & tear
  8. Gradual deterioration
  9. Defective material or workman ship
  10. Faulty design
Erection All Risk (EAR) Insurance

This is most suitable insurance solution for project where majority of scope of work is towards erection & planting of heavy machineries, equipment, structures  such as Sea port, Refinery construction, Solar Plant construction, Wind mill Plant construction, .This insurance covers material damage under scope of work during the execution phase of project until testing & commission of project. This insurance starts covering all material right start from arrival of material at project site until completion/commission of project.

Coverage may be extended to maintenance period as well after commission of project. This insurance all risk associated with storage, assembly, erection , testing of plant & machineries. Some of the elements of risk which are covered under this insurance are perils cover under fire insurance, burglary, theft, collision or drop of heavy/large material from cranes, malicious damage, Act of God perils, short circuit, testing, explosion, insulation failures etc

Additional Coverage under EAR Policy
  • Advance loss of profit  including higher inflated cost for completion, due to delay in project
  • Delay in start up expenses
  • Contractor plant & machinery
  • Additional custom duty.
  • Third party liability including cross liability.
  • Offsite storage / Storage at fabricators’ premises / workshop.
  • Owners’ surrounding  property.
  • Clearance  &  removal  of  debris.
  • Express  freight, over  time, holiday  wages.
  • Air freight.
  • Expediting costs including air freight, express freight.
  • 50 / 50 clause.
  • 72 hours clause.
  • Debris removal – specific sum has to be opted.
  • Professional fees  – specific sum has to be opted.
  • Loss minimization expenses – specific sum has to be opted.
  • Free automatic reinstatement up to full sum insured.
  • Waiver of the contribution clause.
  • Waiver of subrogation clause.
  • Amendment in fire fighting endorsement.
  • Construction plant & machinery (only for limited value & covers).
  • Valuable documents – restricted to Rs 50.00 lacs.
  • Design defect.
  • Maintenance / Extended maintenance.
  • Escalation in project value.
  • Continuity in the cover during the operational phase for the unit / plant tested but awaiting integral testing.
  • Cover for the contract works taken over and put to us.
  • Earthquake.
  • Terrorism.
  • There could be many other additional coverage depending upon nature of project
General exclusion under EAR Policy
  1. Wilful act or negligence
  2. Inventory loss
  3. Consequential loss
  4. Contractual Liabilities
  5. War or alike circumstances
  6. Loss of damage due to nuclear or radioactive reaction, contamination etc
  7. Normal wear & tear
  8. Gradual deterioration
  9. Defective material or workman ship
  10. Faulty design

Contractor Plant & Machinery Insurance

Plant & machineries are most essential tool and heavily capital investment asset for a contractor/business owner. Consistent availability of these equipment help an insured complete their scope of work and thus generate income from their business. Any damage to these equipment leads significant financial losses.

Also, it is important that, these equipment will always keep mobilized from one project site to another. Additionally, Not all those machineries could be registered under motor vehicle act as well.

Therefore, Necessity of this insurance becomes too important which covers, all Plant & machineries of an insured under one single policy which compensates towards financial loss incurred due to repair or replacement of insured plant & machineries such as excavators, cranes, scaff holdings, bull dozers, paving machines, pilling machines, drilling machines etc.
What comes under Basic Coverage?

Loss or damage to insured plant & machineries due to an accident arising out of external perils, irrespective insured property is whilst at operation or rest or dismantled for the purpose of cleaning, over hauling, during subsequent re-erection.

Some of those covered elements of risks are Accident, Impact damages, rolling over, toppling, capsizing, fall from a height, landslide, rockslide, transit damages while carried over some other vehicle, explosion, implosion, submerged in water etc.

What comes under Additional Coverage?
  1. Escalation
  2. Third party liability
  3. Damage to owner surrounding party
  4. Additional Customer duty
  5. Air freight
  6. Express fright
  7. There could be many other add on cover depending upon nature of plant & equipment to be insured
What comes under General Exclusions?
  1. War & Nuclear Perils
  2. Electrical & Mechanical Breakdown
  3. Vehicles designed & licensed for general road
  4. Electrical & Mechanical breakdown
  5. Consequential losses

Advance loss of Profit Insurance(ALOP)/Delay in start up expenses(DSU)

Project of any nature requires huge financial planning & budgeting plus financing as well. Those financial planning & budgeting are considered based on specified project completion period and thereafter its return. Now a days, Projects does not even get budgeted without external finance from Bank, or other financial institution. Therefore, Principal or Contractors financial stability is also significantly dependent upon completion of project on time, else they may have to go through financial difficulty due to delay in revenue or even unavailability of revenue to manage their expenses, due to increased cost of working as well due to inflation in project delayed period. In several cases, Principal are majorly dependent on post projection completion revenue for their debt servicing, delay in project could even lead to total collapse of principal or delay in one project may replicate to other. Therefore, It is utmost important for principal/contractor to assure themselves over completion of project and compensation against financial losses due to delay in project delay.

Existence of Advance loss of profit insurance(ALOP), also known as DELAY IN START UP EXPENSES(DSU), could help Principal owner of project, by compensating them against anticipated revenue plus increased cost of working or certain other expenses which occur due to delay in project completion.

Advance Loss of profit Insurance may also be purchased as extended add on cover under Contractor All Risk Insurance, Erection all risk insurance, or Marine cum storage erection all risk insurance and Marine Cargo insurance for transit of critical items of the project.
What comes under Basic Coverage?

This insurance covers below principal interest due to delay in completion of project due to loss or damage of project insured items subject to condition that cause of loss is covered under specific CAR/EAR/MCE/marine cargo insurance of same project to which conjunction this ALOP/DSU insurance is taken into.

  1. Loss of anticipated gross profit
  2. Increased cost of working
  3. Lenders debt servicing
  4. Other expense such as advertisement, media, campaign etc
What comes under Additional Coverage?
  1. Premises of customer
  2. Public utilities
  3. Prevention of access damage at supplier premises
  4. Denial of Access
What comes under General Exclusions?
  1. Loss or damage due to surrounding property, construction, plant & machinery
  2. Loss of damage due to operating media or feed stock, shortage, destruction, deterioration, or any other material required for insured business
  3. Restriction imposed by Public authority
  4. Non Availability of funds
  5. Alteration, addition, improvements, rectification or elimination of any defect, fault carried out after occurrence
  6. Loss due to fines, penalties, for breach of contract, or non completion of orders or for any penalties
  7. Loss of business due to causes such as suspension, lapse or cancellation of a lease, license or order, etc. which occurs after the date of actual commencement of the business
  8. Any consequence of war, invasion, act of foreign enemy, hostilities Nuclear reactions, Nuclear radiation or radioactive contamination.
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ORANGE CAPITALConnect with us
Principal Officer : Deepak.Arora@orangecapital.in
Sales & Support : Deepak.Chauhan@orangecapital.in
Media/ Grievance/Enquiry : Nandita.Kapoor@orangecapital.in
OUR LOCATIONSWhere to find us
Registered Office
Orange Capital Insurance Broking Private Limited,
Ground Floor, S-145, Uppal South End
Sohna Road, Sector-49, Gurugram, Haryana-122001

Corporate Office
Second Floor, K-5A/9, DLF Phase-II,
Near Vatika City Point, MG Road,
Gurugram, Haryana-122008

Branch Office
Office No.354, 3rd Floor,
Block–D&E Chandigarh Citi Centre-CCC,
VIP Road, Zirakpur Punjab-140603
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ORANGE CAPITALConnect with us
Let’s grow together with the warmth of mutual trust and support for a better future.
OUR LOCATIONSWhere to find us
Registered Office
Orange Capital Insurance Broking Private Limited,
Ground Floor, S-145, Uppal South End
Sohna Road, Sector-49, Gurugram, Haryana-122001

Corporate Office
Second Floor, K-5A/9, DLF Phase-II,
Near Vatika City Point, MG Road,
Gurugram, Haryana-122008

Branch Office
Office No.354, 3rd Floor,
Block–D&E Chandigarh Citi Centre-CCC,
VIP Road, Zirakpur Punjab-140603
GET IN TOUCHOrange Capital Social Links
Feel our social presence that seamlessly covers key insurance indicators.

IRDA Registration Number : 704 | CIN : U66000HR2019PTC082383 | Category : Direct Broker (Life & General including Health) | License Period : 17-04-2020 to 16-04-2023

IRDA Registration Number : 704
CIN : U66000HR2019PTC082383
Category : Direct Broker (Life, General, Health)
License Period : 17-04-2020 to 16-04-2023

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