General Insurance

Fire & Perils Insurance

The basic Fire policy provides indemnity against loss or damage to property described, caused by fire, lightning and explosion. However, the policy can also be extended to cover riots, strike, malicious damage, storm, earthquake, impact by vehicles, aircraft and other aerial devices, subterranean fire, spontaneous combustion, explosion of industrial boilers and economizers, flooding, water damage due to bursting or overflowing of water tanks, apparatus, and pipes. This insurance covers assets such as buildings, plant-and machinery, stock insurance, furniture fixtures and fittings and office equipment.

Domestic Package Insurance

COVERNET majestic Insurance package which gives protection to the homeowners/renters against loss damage to the private dwellings/buildings, household goods and personal belongings against , theft, riot and strike, malicious damage, floods, explosion, lightning and thunderbolt. It also offers personal liability to third parties by the insured, workmen’s compensation to domestic servants and golfers liability.

Industrial All Risks Insurance

This is an insurance package which mainly Incorporates Fire & Allied Perils, Burglary, Accidental damage and Business Interruption and it provides Indemnity to the property insured against any loss or damage from any cause.

Political Violence & Terrorism

Physical loss or physical damage to the Buildings and Contents which belong to the Insured or for which the Insured is legally responsible, directly caused by one or more of the following perils occurring during the Policy Period and in respect of which the Insured has purchased cover as specified:-

•     Act of Terrorism
•     Sabotage
•     Riots, Strikes and/or Civil Commotion
•     Malicious Damage
•     Insurrection, Revolution or Rebellion
•     Mutiny and/or Coup d’Etat

Consequential Loss Insurance

This form of insurance is also known as Business Interruption. It is concerned with paying for the consequences of a material damage loss. When the property Is used for business purposes, the trader due to damage loses his productive capacity or future earning power which is of paramount Importance to him. The normal business activities may even cease or be curtailed drastically and the gross profit reduced or eliminated. The Con-Loss Insurance therefore enables the Insured to recover gross profit due to a reduction in turnover and reasonable additional expenditure incurred in minimizing the reduction in turnover