This is a comprehensive package policy designed to cover nearly all risks faced by large industries. It insures buildings, machinery, furniture, fittings, and electrical installations on a reinstatement value basis, while stock is covered at market value. Coverage also extends to machinery sent off-site for repairs (up to 60 days) and transit risks within the industrial compound.
Sections:
1. Material Damage: Covers various costs including architect/engineer fees, property designation, escalation, omissions in coverage, and temporary removal of stocks.
2. Business Interruption: Covers losses due to interruptions from incidents covered in Section I, including failures at suppliers' or customers' premises or utility services.
