Property Insurance

We offer tailored insurance policies for your property insurance needs. Along with standard offerings such as Fire and Allied Perils, Property All-risk and Consequential Loss of Profit. Property Insurance protects, the insured, against accidental loss or damage to buildings, fittings and fixtures, machinery, furniture, stock, and the consequential loss of profits. In this regard, AICL offers following key products to ensure your property is well protected.

Fire & Allied Perils Insurance(FAP)

FAP primarily provides comprehensive protection against fire and lightning, however this may be extended to cover losses against storms, hurricanes, earthquakes, floods, impact damages, aircraft damages, standard explosions, etc. 

The property to be insured may consist of the following assets:

  • Building

  • Furniture, fixtures and fittings

  • Plant and machinery

  • Office equipment

  • Stock (from raw materials to finished products)

Property All-Risk Insurance(PAR)

PAR is a comprehensive cover which offers protection against all perils. The sum insured may be either based on the actual value or the new replacement value of the property. Business interruption cover can be opted as well to cover loss of profits and provide business continuity.

  • Conditions on and exposure of the site (E.g., atmospheric and tectonic conditions such as the probability of windstorms, earthquakes Flood, Inundation, and fire hazards).

  • Design Features and building materials.

  • Constructions techniques.

  • Safety factors considered in the construction schedule.

  • Measures provided to ensure the safe execution of the project.

Consequential Loss of Profit Insurance(LOP)

LOP covers loss of gross profit due to reduction in Turnover, Increase in cost working and standing charges as a result of business interruption caused by an accident identifiable under FAP policy.

LOP is provided in conjunction with FAP policy and indemnifies the insured in line with subsequent losses due to fire and/or specified perils under the FAP.

  • Competitive Pricing

  • Flexibility - Design the policy as per your needs.

  • Additional Cover Extension - Fire fighting expenses, Debris Removal, Professional Fees and other extensions can be included as per insured’s need.

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