Property Insurance provides protection against most risks to property. It insures against loss or damage to property arising from any fortuitous cause, except such as may be specifically excluded. The perils covered by property insurance are but not limited to fire, lightning, domestic explosion, water damage, theft, storm, tempest, flood, hurricane earthquake, and other weather damages.
In the Property All Risks Insurance, the cover provides loss or damage to the insured item by whatsoever cause, other than not specifically excluded in the policy. The section two of this policy constitutes the Business Interruption Insurance (B.I). Business Interruption insurance will compensate for the short fall in gross profit increased working cost, and extra auditors or accountants fee arising out of loss due to an insured peril.
Features & Benefits