Factory, Industrial All Risk & Commercial Property Insurance

Commercial property cover under Bharat Sookshma and Laghu Udyam

IRDAI’s standardised products cover commercial property up to a sum insured of five crore (Sookshma) and fifty crore (Laghu Udyam), with defined terms that remove much of the wording risk from smaller placements. Above that threshold the placement returns to negotiated terms. We advise on which regime applies, value the property for reinstatement, and place the cover.

Factory insurance for Ambattur, Sriperumbudur and Oragadam

For factories in the Ambattur Industrial Estate and the Sriperumbudur-Oragadam automotive and electronics belt, the choice is usually between a fire policy (standard fire and special perils) with add-ons and an Industrial All Risk policy that bundles fire, machinery breakdown and business interruption into one cover. Industrial All Risk is generally offered to larger industrial risks, and for a big plant it is often the simpler route. Either way, we value building and plant at reinstatement cost so a claim is not cut down for under-insurance.

Property Insurance

After the project is completed and put to use, the project should generate the expected revenue and profits.
At this stage there is various risk exposures like Fire, natural perils like Earth quake, Cyclone, flood etc. for the physical assets in the plant. In addition there can be issues because the machinery and equipment being used breaks down resulting in loss.
The above exposures can result in financial loss because of the damage to the physical assets or the business resulting in loss of revenue and in the expect profit.
These risks need to be properly assessed and insurance solution to be suggested managing it in a cost effective manner.
Our experts in SmartTech are well versed in this and can find unique solutions for Industry specific exposures and work out suitable Insurance solutions.