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Key Divisions
Property All Risk

Coverage

PAR is an all Risk policy subject to specified exclusions in the policy. Wording is at par with international wordings Viz Munich Re, London Market etc

Sum Insured

Sum Insured for fixed asset should be Reinstatement value of the property whereas stocks value should be on the market value under material damage section. Under business interruption section sum insured must be equivalent to gross profit.

In the event of claim, no depreciation on parts with limited life or Total Loss would be applicable

Excess

Material Damage Section: Various such Acts Of God, Accidental Damages etc

Business Interruption: 7 days gross profit