Comprehensive Corporate Coverage
Industrial All Risk Policy is an exclusion based pakage policy without any named perils. In this policy specific exclusions are incorporated with reference to the operating perils and properties. That means whatever is not excluded, is covered under the policy.
Full coverage for buildings, stock, and physical assets.
Protection against mechanical and electrical failures.
Compensation for financial loss during operational downtime.
The IAR policy acts on an "All Risk" basis, meaning everything is covered unless specifically excluded. It is primarily divided into two main sections ensuring 360-degree risk mitigation.
Only covers "Named Perils" (risks explicitly listed in the policy). Requires you to purchase separate policies for Machinery Breakdown, Burglary, and Loss of Profits. Administrative hassle is high.
An "All Risk" policy where everything is covered unless explicitly excluded. A single, comprehensive policy document encompassing Fire, Machinery Breakdown, Burglary, and Business Interruption. Ideal for large-scale operations.
Designed for industrial risks with a large total sum insured (typically BDT 50 Crore or above). Essential for:
Replaces multiple standalone policies, making renewal and administration seamless.
Packaged coverage usually offers better premium rates compared to buying individual covers.
No "gray areas" or overlapping gaps between fire, machinery, and burglary coverages.
Highly preferred by financial institutions for sanctioning large syndicated corporate loans.
Inform Republic Insurance immediately. Take steps to minimize further loss without altering the scene.
Our appointed independent surveyor will visit the plant for physical inspection and preliminary assessment.
Submit engineering logs, stock registers, and financial accounts as requested by the surveyor.
Upon final survey report validation, the claim amount is settled with the corporate client or bank.
