This is a package policy designed to cater for the complete insurance requirement of an office. It is single policy covering various contingencies faced by offices, which are normally covered as separate policies.
This cover provides indemnity against the loss of or damage to the contents in the insured premises including money, but excluding valuables, against the risk of burglary / robbery including theft.
Cover Is Also Extended To Indemnify For Damage caused to insured premises as well as costs for changing locks at the insured premises resulting from burglary and / or robbery including theft or any attempt there at any time during the policy period but limited to 10 % of the total sum insured.
This section also covers loss of money, by actual or attempted burglary, if it is kept in a safe or strong room when the insured premises are unoccupied. This section also covers loss of money from the cashiers till and / or counter, caused by robbery in the insured premises.
Cover 3 - Money Insurance
This Cover indemnifies in respect of money in transit, by the employer or the employers, occasioned by theft, or any other fortuitous cause.
The transit for the purpose of this policy shall commence with the taking over of the money for the purpose of transit and shall end as soon as the money reaches the place of delivery.
Cover 4 - Plate Glass
This cover pays for the loss or damage to plate glass located at the insured premises due to accidental breakage during the policy period. Also the company pays for the cost of any temporary boarding up necessitated by such breakage.
Furthermore the Company will indemnify costs for damaged frames and frameworks but only as a consequence of an insured damage according to the terms and conditions up to a maximum limit of Rs. 5,000.
Cover 5 - Breakdown of Office Equipment
This section covers Office equipment such as photocopying machine, deep freezers etc against unforeseen and sudden physical loss caused by or solely due to mechanical or electrical breakdown.
The section carries an excess of 1% of the sum insured subject to a minimum of Rs. 250/- for each and every loss.
Cover 6 - Baggage
The Company will indemnify in respect of loss to accompanied baggage of while on official tour. The coverage is anywhere in India. This can be extended worldwide.
Cover 7 - Electronic Equipment
The Company will indemnify in respect of any unforeseen and sudden physical loss or damage to electronic equipment such as fax machine. Computers etc. from any cause, other than those specifically excluded.
The coverage is subject to excess as follows:
5 % of the claim amount subject to minimum of Rs 5000/- for claim involving computers.
1 % of the claim amount subject to a minimum of Rs 500/- for other equipment.
Accidental damage to external data media, software and cost for reproduction of lost data and information is also covered.
Accidental loss or Damage to Portable Computers, and replacement or repair costs in this respect are provided for under this particular cover.
Cover 8 - Personal Accident
This Section covers you in the case of accidents suffered by self as well as named partner / directors, members of managerial staff or employees, aged between 16 and 65 years and permanently working with you.
In case of such an accident an additional amount of 2 % of the sum insured for death, but not more than Rs. 5,000 will be paid for the transport of the mortal remains.
Should the accident result in the total and irrecoverable:
Loss of sight on both eyes,
Physical separation of or loss of ability to use both hands or both feet,
Physical separation of or loss of ability to use one hand and one foot,
Loss of sight of one eye and physical separation of or loss of ability to use either one hand or one foot,
The insured is entitled to payment of 125 % of the sum insured.
Option is available to take additional covers like Permanent Partial Disability.
Temporary Disability Benefits:
Cover 9 - Fidelity Guarantee
This Section covers against any direct pecuniary loss caused by act of fraud or dishonesty committed by any salaried person employed by you in the insured premises.
Cover 10 - Public Liability & WC
This Section will indemnify if, in connection with claims arising out of bodily injury or property damage in connection with the activity or business specified in the schedule, the proposed is held legally liable to pay compensation to third persons in accordance with the Indian law and other than in respect of the Public Liability Insurance Act, 1991, or any other no fault liability base.
The Company will pay compensation to your employee named in the Schedule engaged in the Insured premises under the Workman's Compensation Act, 1923 or any amendment thereto or Common Law in respect of death of or bodily injury to such employee arising out of and in the course of employment.
Cover 11 - Hospital Cash Daily Allowance
The hospital cash policy is a comprehensive insurance policy with cash benefits which are payable according to the selected scheme if the insured is hospitalized due to sickness or accident. It provides cash benefits for each and every completed day of hospitalization.
The policy indemnifies the insured against loss or damage to the insured property arising out of insured perils under the respective sections.