Untitled Document
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Office Umbrella Policy
With the advent of liberalisation, the modern working environment
has been thoroughly revamped and is undergoing total enhancement
at a rapid
pace. Even the manufacturing and trading sectors have realised the
need of pre-sales and after-sales service. And their corporate profile
can maintained and strengthened through their offices. It is essential
for all offices to invest in this insurance policy since it provides
complete protection to offices against all different kinds of risks
and perils. By opting for this single insurance policy, the office-owner
will be able to cope with any risks that his business might encounter
while conducting his business activities.
What can be Insured
Under the twelve odd sections
of this insurance policy, all assets and liabilities of a modern
working environment such as the building,
inclusive of its fixtures and fittings, boundary walls and fences,
contents stored within the office premises including employees' personal
effects, damages that might be caused by tenants, professional instruments,
money in transit or locked in safe, fixed glass and sanitary fittings,
employees' fidelity, electronic equipment, data carrying material
as well as portable computers and cell phones can be insured.
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Risks covered
This insurance policy provides
cover against the perils of -
Fire and allied perils.
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Theft or
attempted theft through forcible or violent means.
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Robbery or
dacoity.
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Accidents or
misfortune or breakage.
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Fraud or dishonesty committed by employees.
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Compensation Offered
In event of any damage to the building premises, this insurance
policy will indemnify the insured to cost of replacement or reinstatement
or repairs based on actuals, including removal of debris, consultation
fees.
If any claim arises due to the insured tenant's
legal liability, this insurance policy will provide funds equivalent
to 10 percent
of the total Capital Sum Insured for contents, but not exceeding
25 percent of the aggregate.
In case, theft, accident or misfortune
occurs to the money held by the office, the cover will also include
replacement and/or repairs
to the safe.
Fixed glass and sanitary fittings are insured on a reinstatement
basis.
In event of any accident occurring to named employees, damages
with regards to hospitalisation, ambulance charges and costs of clothing.
In
case of business interruption, the loss of income including increased
cost of working and additional expenditure such as setting up of
a temporary office, rates, taxes, cost of substitute equipment, hiring
personnel, professional charges and additional expenditure such as
rent, electricity, taxes, costs of removal will be paid for.
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Exclusions
This insurance policy is subject to all exclusions, conditions,
general definitions and warranties as specifically detailed by
the policy.
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