Commercial Property

Fire represents one of the greatest hazards that an organization can encounter. Each year several thousands of lives are lost to fires, tens and thousands of people are injured, and huge amounts of financial losses are sustained due to destruction of property or damage by fires.

Every organization is exposed to the possibility of fire losses irrespective of its nature and a fire loss can seriously hinder it from achieving its objectives or even totally destroy it.

We assist organizations in controlling their exposures to accidental fire losses by offering insurance protection to pay for losses that cannot be avoided, prevented or limited.

Available Covers:
Our basic policy gives protection against loss or damage due to Fire and lightning on Building, Machinery, Stock, Contents, Furniture/Fixtures etc.
However, this policy can be extended to include additional covers such as:

• Riot & Strike Damage
• Malicious Damage
• Atmospheric Disturbance (Hail, Snow, Wind, Hurricane, Rain, Flood, Cyclone, Tornado etc.)
• Explosion
• Earthquake (Fire & Shock)
• Impact Damage
• Aircraft Damage
• Electrical Fire Damage
• Burglary
  
  

For the medium to the large sized business sector, our policies can be tailored to meet specific requirements resulting in a responsible insurance program designed just for your organization.

The New Hampshire Insurance Company Advantage:
In addition to insurance protection, we provide risk management and loss control advice as a complementary service. Our experts will support you by identifying major hazards faced by your organization and suggesting solutions to minimize the impact of these hazards.

Business Interruption following & Allied Perils Insurance Policy

Business Interruption Insurance covers loss of profits of a business due to reduction in the turnover caused by a loss or damage that is covered in the Fire & Allied Perils policy.

The insurance includes cover for Increased cost of working following the loss as well as the standing charges of the business that continue even though business activities have come to a temporary halt.

Business interruption coverage is not sold separately. It is added to a Fire& Allied Perils insurance policy or included in a package policy.

Why BI Insurance is essential for competitive firms
Business interruption insurance can be vital to your survival as a competitive firm. If you conduct business in a very competitive industry where customers and suppliers could be lost within a short period of time, Business Interruption Insurance is essential. A business that has to close down completely while the premises are being repaired may lose out to competitors. A quick resumption of business after a disaster is essential.

While your building and equipment are being repaired or replaced, you still need a steady cash flow to meet expenses such as mortgages, taxes, salaries, utilities, insurances, etc.

Without business interruption insurance, both your business and personal savings may be needed to salvage or maintain the business. If these savings are not available, the business may never resume and could be forced into bankruptcy.

This coverage is especially important for Manufacturers, retailers & warehouse.

Industrial All Risks Policy offers wider cover than property covers written on a fire and allied perils basis. The main difference is in the way the cover is described. Under a fire and allied perils policy, the wording defines exactly what perils are covered. Under an IAR policy, everything is covered other than the exclusions, defined in the wording.

The policy covers insured properties against unforeseen and sudden events. Usually factories, power plants, building and office projects including workshop, machinery, equipment, material, goods, fuel, warehouse, premises or offices are covered under this insurance policy. Industrial All Risks policies are usually available to especially large accounts.

Cash, bank and currency notes, cheques, money orders, postal orders and current postage stamps are excluded from the cover given by a fire insurance policy and a separate money policy is required. This is written on an” All Risks" basis to cover any accidental loss or damage but will exclude or limit cover for employee dishonesty. The cover can extend to money in or out of a safe on business premises, in the home of any director or employee, in a safe deposit box, in transit to or from the bank or in the hands of bill collectors. This cover provides protection against dacoits, robbery or hold-up while in transit or in safe.