• Standard Fire and Special Perils Policy

  Filed under Basic Information, Guide
  Aug 21

  
  Image Source: aboutfirehazardinsurance.com

  The fire insurance policy has been changed to Standard Fire and Special Perils Policy. The risks covered are as follows:

  Dwellings, Offices, Shops, Hospitals(Located outer the compounds of industrial/manufacturing risks) Industrial / Manufacturing Risks Utilities positioned outside industrial/manufacturing risks Machinery and Accessories Storage Risks outside the compound of industrial risks Tank farms / Gas holders located outside the compound of industrial risks

  Perils Covered- Cause of Loss

  Fire Lightning Explosion/Implosion Aircraft damage Riot, Strike, Terrorism, Storm, Flood, inundation Impact damage Subsidence , landslide Bursting or overflowing of tanks Bush fire etc.
  Claims In the event of a fire loss covered under the fire insurance policy, the Insured shall immediately give notice there of to the insurance company. Within 15 days of the occurrence of such loss the Insured should present a claim in writing giving the details of damages and their predictable values. Details of other insurances on the same property should also be declared.

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