Hotline Call Centre: 1500 674 (MSI)Property All Risk/Industrial All Risk Insurance
Property All Risks Insurance offers a comprehensive solution and peace of mind by protecting your business assets against any risks. This insurance provides coverage for material loss or damage and business interruption resulting from all risks, except those specifically excluded in the Policy.
Key features
All risks coverage
Provides protection against material loss and business interruption for all risks
Expandable coverage
Can be extended by Earthquake Insurance
Risk consulting services
Provide risk consulting services (thermo survey service and fire training)
Plan highlights
Covers all risks of unforeseen and sudden physical loss or damage, other than those specifically excluded. Including:
- Fire, Lightning, Explosion, Impact of Falling Aircraft, Smoke (FLEXAS)
- Flood, Windstorm, Tempest, Water Damage (FWTWD)
- Theft/Burglary
- Other risks unforeseen, sudden and accidental physical loss
- Extension coverage of Riot, Strike, Malicious, Damage, and Civil Commotion (RSMDCC)
- Business Interruption
In order to receive the full claim payment of your insurance coverage, you need to ensure that your sum insured is adequate.
Learn more about sum insured adequacy
Plan details
This policy covers all industrial risks for loss or damage to the insured property, except for those excluded under the Policy wording.
The Policy consists of two sections:
Section 1 – Material Damage
This section covers material damage (for example, to buildings, machinery, or stock) caused by any peril not excluded under the Policy.Section 2 – Business Interruption
This section covers business interruption losses resulting from a reduction in Gross Profit as a consequence of material damage covered under Section 1.
General exclusions applicable to all Sections
The Insurer shall not be liable to indemnify the Insured in respect of any loss (including consequential loss), destruction, damage, or expense whatsoever, directly or indirectly caused by, arising from, or aggravated by:
Exclusions:
war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), or civil war;
riot, strike, lock-out, malicious acts, looting, civil commotion, military rising, popular uprising, rebellion, revolution, military power or military takeover, confiscation, requisition or nationalization, acts of terrorism.
“Terrorism” means the use of violence for political purposes and includes any use of violence for the purpose of creating fear among the public or any section of the public.2.1 ionising radiation or contamination by radioactivity from nuclear fuel or nuclear waste resulting from the combustion of nuclear fuel;
2.2 radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or its nuclear components;any deliberate act or intentional negligence of the Insured or their representatives;
total or partial cessation of work.
In any action, suit, or other legal proceedings in which the Insurer asserts that, by virtue of Exclusions 1) and 2) above, any loss, destruction, damage, or expense is not covered by this insurance, the burden of proving that such loss, destruction, or damage is covered shall rest with the Insured.
Note: Please refer to RIPLAY for more specific exclusions
