Personal Accident Insurance

• The policy covers any bodily injury/death

resulting solely and directly from accident
caused by external violent and visible means
and not aggravated by bodily defects or
infirmities
• Although there may not be any loss of earning
capacity there still can be disablement under
the policy

2
 Personal Accident Insurance
• Permanent total Disablement.
• Permanent partial disablement.
• Temporary total disablement.
• 100% or 50% of CSI is paid according to the disability
suffered for the permanent total disablement
• Insurer is not liable for compensation under more
than one of the sub clauses in respect of the same
period of disablement.
• Once a claim is settled under one of the sub clauses
for permanent total disablement/death the policy
becomes inoperative.

3
 Special features
• The cover is for 24 hours and on a worldwide
basis.

• Travel as a passenger in a licensed standard type

of aircraft is automatically covered.

• Medical expenses-on payment of extra premium-

20%.

• War & allied risks-working in foreign countries on

civilian duties can be covered at 150/250 %
loading on premium

4
 Personal Accident policy
• Cumulative bonus-benefits increased by 5% max
upto 50%.
• Carriage of dead body-2% of CSI or Rs 2500
whichever is less
• In the case of temporary total disability 1% of CSI
subject to maximum Rs 5000/- (revised ) per week up
to max 100 weeks are payable.
• Education fund
– For 1 dependent child below 25 years age-10%
of CSI s.t. max Rs 5000
– For more than 1 dependent child below 25
years age-10% of CSI s.t. max 10000
– The benefit is available for only on CSI and not
on cumulative bonus

5
 Personal Accident-exclusions
• Compensation in respect of death,injury or
disablement arising from:
• Intentional self-injury, attempted/suicide
• Influence of intoxicating liquor or drugs
• Engaging in aviation
• Any breach of law with criminal intent
• Service in armed forces
• War & nuclear perils
• From child birth or pregnancy

6
 Classification of risk
• Risk group I-accountants,doctors,lawyers
engaged in administrative functions
• Risk group II-contractors, builders,
drivers,athletes,woodworking Machinists
• Risk group III-circus personnel,working in
mines with explosives- electrical installation
with high tension supply or racing on
horseback

7
 Group personal accident policy
• Some common relationship among the persons to be
insured and a central point for administration of the
policy scheme
• No insured person has an independent right of action
against the insurer
• Cumulative bonus & education grant is not applicable
• Medical expenses & war risk extensions are available
• SI can be linked to emoluments payable to the
insured

8
 Group personal accident policy
• Premium-dependent on profession,activity involved
in
• On duty covers -75% of applicable premium
• Off duty covers-50% of applicable premium
• Exclusion of death cover-allowed when group life
policy exists
• Group discount-say where more than 100 persons are
covered
• Any physical infirmity or defect/disability prior to the
commencement of cover –or any cumulative effect as
a result of such disability stand excluded

9
 Flight insurance coupons
• Passenger Flight Coupon provides cover for
accidental bodily injury while embarking /
disembarking from or traveling in any aircraft
operated by a regular airline over a scheduled route
as a passenger during the flight specified
• The cover can be for specific flight or for specific
period of time
• Declaration policies can be issued to individuals or
companies for frequent fliers

10
 Student safety insurance
• Available to schools,colleges or other educational
institutes
• Benefits the registered students
• All students to be covered -additions allowed but
deletions are not
• Maintenance of attendance register
• Claim amount payable to the parent/guardian as recorded
in the school register Policy is issued in the name of the
educational institution
• Compensation limit
– Per student-10000/
– Per accident-500000/
– Per policy period-1000000/

11
Burglary Policy

12
 Burglary is defined as
• Theft of property from the premises described
following upon felonious entry of the said premises
by violent & forcible means
• Theft by a person in the premises who subsequently
breaks out by violent and forcible means provided
there shall be visible marks at the place of such entry
or exit by tools,explosives electricity or chemicals
• The use of force & violence need not be against
property only-it can be against any individual also.

13
Burglary Policy

• This policy covers contents of business premises

against the risk of loss or damage by burglary and
housebreaking only.
• Fire risk is covered by issue of a separate Fire
Policy.
• The Property insured is covered only if loss or
damage takes place whilst contained in the
premises described in the schedule

14
 Property covered
• Stock in Trade
• Goods in trust or on commission for which
the insured is responsible
• Cash & currencies locked in safe
• Fixtures & fittings ,tools of trade
• Loss or damage to any part of the building
caused by burglary or any attempt
therefore is also covered

15
 Key clause
• The loss of cash from the safe following the
use of the key to the said safe or any
duplicate thereof belonging to the insured
is not covered unless such key has been
obtained by violence or threat or through
means of force
• The key clause cannot be deleted even by
payment of extra premium

16
 Key clause
• A complete record of cash kept in the safe
should be kept secured in some place
other than the safe and the liability of the
insured is limited to the amount actually
shown by such records
• The keys of the safe or strong room shall
not be left on the premises after business
hours.

17
 Property excluded-
unless specifically mentioned
• Gold or silver articles
• Watches or jewellery or precious stones or
Deeds, Bonds, Bills of exchange, promissory
notes, cash, treasury notes and Bank notes,
Cheques, securities for money, stamps,
stamp collection, books of account,
• Documents of any kind, manuscripts,
medals and coins
• Motor vehicles and accessories or live stock

18
Definitions
• THEFT: Dishonestly taking away movable property
out of the possession of any person without consent
of that person (Section 378 of IPC)
• BURGLARY: Taking and carrying of property from
premises: a) Following felonious entry/exit by use of
violent and forcible means.
b) The presence of visible marks at the place of entry or
exit.
• ROBBERY: Voluntarily causing to any person Death or
hurt or wrongful restraint or fear of instant death or
hurt or wrongful restraint in order to commit a theft
(Section 390 of IPC)

19
 Definition
• HOUSEBREAKING: Committing House trespass by
effecting entrance into the house or already being in
house for purpose of committing an offence or having
committed an offence effecting forcible exit (Section 445
of IPC.)
• DACOITY: When five or more persons armed or otherwise
jointly commit or attempt to commit a robbery.
• LARCENY: Theft committed by a person who has got a
right to be in the premises.
• HOLD UP:Theft accompanied by assault or violence or or
the threat of it to the insured/employees irrespective of
whether there is a forcible entry

20
 Perils Covered
• Burglary or House-breaking of
property following upon felonious
entry of the premises by violent and
forcible means.
• Theft by a person in the premises
who subsequently breaks-out by
violent and forcible means.
• Damage to the Premises by the
burglars failing to be made good by
Insured.
21
 Exclusions-loss or damage where
• Any inmate or insured’s family member or
business staff is involved as principal or accessory.
• By acts of persons lawfully on the premises
(larceny)
• Consequent upon fire or explosion
• Loss of cash from the safe following the use of key
or duplicate (unless such key is obtained by
threats or violence)-KEY CLAUSE

22
 Exclusions-loss or damage where
• Earthquake and other natural perils
• Riot strike and civil commotion
• War and kindred perils,nuclear risks
• Premises left uninhabited by day and night for
seven or more consecutive days and nights

23
 CONDITIONS
• INDEMNITY:
a) Extent of intrinsic value of property lost, subject to
sum insured.
b) Repair damage to property or premises insured.

• CONDITION OF PRO-RATA AVERAGE

• SUBROGATION
• CONTRIBUTION
• FRAUDULENT CLAIM
• ARBITRATION & DISCLAIMER
• CANCELLATION

24
 Reinstatement of Sum Insured
• Immediately upon the happening of any loss or
damage as described in the policy, the total SI
under the various descriptions of property
which have been Lost or damaged, shall be
reduced by the amount of loss or damage and
such reduced S.I shall be the limit of the
insurer’s liability in respect of any further loss or
damage occurring during the current period of
Insurance unless the insurer consents, upon
payment of additional premium to reinstate the
full sum-Insured.

25
 Special Feature
• This Policy contains the usual “Average
Clause”
• Insurance must be effected for the full value
of property to be insured unless first loss basis
is underwritten
• The probable highest amount at risk at any
one time should be declared.

26
 Rating
• It is a non-tariff business.
• Premium rates depend upon the client,
• Situation of the risk
• Property to be covered,
• Precautions for protection,
• Previous claims experience
• Higher or lower rates may be charged and
protective measures imposed, if felt necessary,
considering the hazard involved.

27
 Rating
• Reduce rate for stocks in bulk with large Sum Insured
• Increase rate where chances of major loss in single
incidence.
• Cash/Valuables in Burglar-proof safe
• First loss- 90%-50% of the premium is charged
depending on percentage of SI opted
• Declaration Policy- Minimum retention of 35% at
expiry as per Fire Tariff.

28
 Underwriting considerations
• Moral hazard of proposer
• Survey of risk
• Maintaining of books of accounts
• Regular stock taking and audit once a year
• Avoiding/Loading premium for small articles with
high values eg. Jewellery etc.
• Correct description of goods
• Separate S/I for stock, cash,goods-in-trust

29
 Underwriting considerations
• Details of safe-weight, size, make etc., if
proposal for cash in safe.
• Separate Fire Ins.of property a must.
• Cover restricted to cash/money in safe and
not in steel almirah/cash box.
• All endorsements/warranties to be attached.

30
 Types of policies
• Full value policy-Insurance must be
effected for the full value of the property to
be insured
• Policy contains usual “average” clause
• First Loss Insurance-policies may be issued
for an amount less than the total value of
the property with the stipulation that the
company will pay the whole amount of loss
upto the limit of S/I. insured.

31
 First Loss Policy
• Acceptance should be considered in case of large
warehouse and stores where value of stock is very
considerable and of substantial and bulky
nature(normally not less than Rs.10
lacs)rendering total loss a remote possibility
e.g.Baled goods, Machinery etc.
• Damage to the premises must be excluded in such
policies

32
 Declaration Policies
• These policies may be considered where large
stocks which fluctuate considerably during the
year are involved along the same lines as Fire
Declaration Policies.
• Probable highest sum insured at any one time
during the period is taken as the sum insured
of the policy and 100% premium on the same
is to be collected as deposit at full value rate
• A minimum of 35% of the annual premium on
the sum insured will be retained by the
company.

33
 Floating policies
• Cover goods in more than one location under
one sum insured
• The subject matter of insurance has to be
identical in all locations
• Policies issued when separate sum insured is
not available
• They are issued only to well known clients

34
 Risks to be avoided
• Risks situated in the interior
• Jewellers
• Dealers in precious stones, curious and antiques
• Watch makers and Dealers
• Gold and Silver-smiths
• Furriers
• Money lenders and Pawn Brokers
• Athletic clubs and sport Pavilions
• Stamp Dealers &Tailoring Establishments
• Launderers
• This list is not exhaustive but indicative of the type
of risks to be avoided.

35
 Documents required for claim
procedure
• Duly completed claim form
• Copy of first information report (Police FIR)
• Survey/investigation report
• Copy of final investigation report issued by the
police authorities/magisterial order.
• Letter of undertaking/subrogation form obtained
from the insured.

36
 FIDELITY GUARANTEE
• This policy covers the employer towards
direct financial loss from employee
dishonesty.

• There are 3 parties concerned-insurer,

insured & person whose fidelity is being
guaranteed upon.

37
 FIDELITY GUARANTEE
• Direct pecuniary loss sustained due to
fraud/dishonesty committed by the employee during
the uninterrupted continuance of employment.
• The limit of compensation is the specified sum
insured
• Loss due to bad accountancy is not covered, as also
omissions
• Act should be committed in the course of duties

38
 Time limit for discovery of
losses
• Acts insured against should not be discovered
later than 12 months after resignation,
dismissal,retirement or death of the employee
or not later than 12 months after the
termination of the policy

39
 FIDELITY GUARANTEE
• Application of precautions and control measures and
supervision of the employee
• Advise insurers regarding change in the nature of
duties so that premium chargeable can be
reconsidered.
• Immediate notice of the claim
• Subsequent to the loss the policy stands cancelled in
respect of the defaulting employee

40
 FIDELITY GUARANTEE
• Subrogation-after settlement of the claim the insurers
can exercise all rights of action against the employee
in the name of the employer but at the cost of the
insurer themselves
• Contribution-pay pro-rata with any other policy
• Termination of policy
• Arbitration

41
 FIDELITY GUARANTEE

• INDIVIDUAL & COLLECTIVE POLICY-Specific sum

insured against each employee
• FLOATING POLICIES-specified sum of guarantee is
floated over the whole group so the claim in respect
of one employee will reduce the sum insured unless
the original sum insured is reinstated by paying an
extra premium.
• POSITION POLICY-Position is guaranteed for a
specified amount so that a change in the person
holding the position does not affect the cover
• BLANKET POLICY-Covers entire staff without showing
name/position but references must be made
available to the insurer in the event of a claim

42
CASH IN TRANSIT INSURANCE

• Loss in transit by insured or his employees

• Loss by robbery,theft,hold up whilst in insured
premises or strong room
• Cash,bank drafts,currency notes,postal
orders,postage stamps are covered
• Wages,unpaid salaries are covered against
burglary provided it is retained in strong room

43
 CASH IN TRANSIT INSURANCE
• Two amounts are specified
– LIMIT OF INSURER’S LIABILITY FOR ANY ONE LOSS

– ESTIMATED AMOUNT IN TRANSIT DURING THE YEAR

• Declaration policy can be issued and premium

adjusted on renewal
• Insured will have to keep records of all the money
transactions that are carried on involving various
transits

44
 EXCLUSIONS
• Shortage due to error or omission
• Loss of money entrusted to any person other than
insured or his authorized employees
• Losses due to the fraud,dishonesty of an employee of
the insured( to be discovered within 48 hours)
• Loss occurring on the premises after business hours
unless money is in a locked safe or strong room
• Loss by riot/strike & terrorist activity
• Theft of money from unattended vehicles
• Loss from safe by use of its key unless the key is
obtained by use of threat or violence-key clause

45
EXTENSIONS UNDER THE POLICY
• DISBURSEMENT RISK-Loss arising whilst
disbursing the wages is covered at additional
premium provided the loss is occasioned by any
of the insured perils
• INFIDELITY OF EMPLOYEES-Act of dishonesty by
the employees entrusted with the carrying of the
property e.g. staging a robbery or concealing and
raising false alarm of snatching are covered at an
additional premium
• TERRORISM-Can be covered if asked for
specifically

46
 House owners insurance policy-
Single policy taking care of various
contingencies

47
 Sections-of the package policy
• Section I A-Fire & Allied Peril-building
• Section I B-Fire & Allied Peril-contents
• Section II-Burglary (same SI as in Sec I B)
• Section III-All Risk
• Section IV-Plate Glass
• Section V-Breakdown of Domestic Appliances
• Section VI- TV & VCR/ DVD
• Section VII -Pedal Cycle
• Section VIII-Baggage :anywhere in India
• Section IX -Personal Accident
• Section X-Public Liability-25000/ per event WC as per WC
act

48
 Section 1-Fire & Allied Peril
• Covers building & contents(excluding money &
valuables) against
• Fire Lightning explosion
• Bursting and overflowing of water tanks
• Aircraft or articles dropped there from
• Riot strike & malicious acts
• Earthquake landslide subsidence
• Flood storm tempest hurricane
• Impact damage by any rail/road vehicle or animals

49
 Extended benefits
• Household contents temporarily housed elsewhere
due to operation of an insured peril
• Replacement and installation cost for external locks &
key
• Reimbursement of Alternative Accommodation
expenses or loss of rent if covered specifically
• Medical reimbursement for accident hospitalization
to the insured and spouse (65 yrs old & below) due to
an accident occurred within the apartment
• Worldwide personal liability for entire family

50
Breakdown of domestic appliances
• Unforeseen & sudden physical damages due to
mechanical or electrical breakdowns of domestic
appliances whilst contained in the insured premises
• Satellite dishes are also covered if specifically asked
for
• Damage to the appliance due to water or oil escaping
from washing machine,dishwasher,or fixed water or
heating system is not covered

51
 ADDITIONAL COVERS
• Loss or damage to wedding gifts in the house
by an insured peril for the period 1 month
before & after the wedding day of any
member of the family
• Spoilage of frozen food due to
– Contamination by fumes from
refrigerator / freezer
– A rise or fall in temperature incl.
reasonable cost of hiring a temporary
alternative freezer space
52
 Insured’s duties in the event of the
claim
• Notice of loss • Cancellation within 7
• Police report days
• Preservation of • Principle of indemnity
property • Subrogation
• Inventory & inspection • Contribution
• Proof of loss • Arbitration
• Surveyors appraisal

53
 Common exclusions
• War & allied perils
• Wear & tear corrosion and depreciation
• Damage to solid floors caused by the material
beneath the floor being compacted-to prevent claims
resulting from inadequate foundations
• Consequential loss
• Nuclear perils
• Damage caused by faulty design, materials,
workmanship or demolition,structural repairs or
alterations

54
Shop owner's package policy

55
 Shopkeepers Insurance
• Section I A-Fire & Allied Peril-building
• Section I B-Fire & Allied Peril-contents
• Section II-Burglary (same SI as in Sec I B)
• Section III-Money in transit(50000/ p/c limit)
• Section IV-Pedal cycle
• Section V- Plate Glass
• Section VI- Neon and glow sign
• Section VII –Baggage:traveling anywhere in India
• Section VIII-Personal Accident
• Section IX –Fidelity Guarantee
• Section X-Liability
• Section XI-Business Interruption

56
Conditions- Loss or damage to
• Valuables/money whilst in a locked safe-2% SI
under section IA or 10000/ whichever is less
• Money in cashier’s till or counter-1% SI under
Section IA or 5000/ whichever is less
• Plate glass-10%SI under Section IA or 50000/
whichever is less
• Neon sign-2% SI under Sec IA or 10000/
whichever is less
• Personal baggage-2% SI or 10000/ whichever is
less

57
 Conditions
• Fidelity guarantee-10% SI under Sec IA or 50000/
whichever is less
• TPL-5% SI under Sec IA or 25000 whichever is less
• Business interruption-the building under sec IA has
to be of class A construction

58
 Conditions for all the above policies
• Contribution
• Subrogation
• Cancellation
• Arbitration
• 12 calendar months time limit for filing civil
suits incase of any disputes

59
 UNITED INDIA INSURANCE CO. LTD.

JEWELLER’S BLOCK INSURANCE

 UNITED INDIA INSURANCE CO. LTD.

JEWELLER’S BLOCK INSURANCE

Covers:-
 Sec-I: Insured’s Property (Including Cash/Currency
Notes), Bank lockers & Pvt. Lockers against Loss due to
Fire, Explosion, Lightning, burglary, theft, riot, strike,
hold-up, robbery & Malicious damage
 Sec-II: Property (Excluding Cash/Currency) in the
custody of insured/partners/employee or entrusted to
various persons specified in the policy
 Sec-III: Property (Excluding currency) whilst in transit
within India by Regd.post/air freight
 Sec-IV: Furniture, Fixture, Fittings, Safe & Trade
Equipments- Sec-I perils
 UNITED INDIA INSURANCE CO. LTD.
JEWELLER’S BLOCK INSURANCE
ADVANTAGES

 10% DISCOUNT ON GOOD FEATURE i.e., WHERE SPECIAL

SECURITY MEASURES ARE ADOPTED LIKE STRONG ROOM,
CLOSED CIRCUIT TV SYSTEM, ARMED GUARDS
 DISCOUNT ON CLAIMS EXPERIENCE
 UNITED INDIA INSURANCE CO. LTD.
COMPACT PACKAGE POLICY
 A POLICY FOR OFFICES, HOTELS, SCHOOLS, COLLEGES, HOSPITALS,
CLINICS, CINEMA THEATRES & OTHER NON-MANUFACTURING & NON-
INDUSTRIAL RISKS
Covers:
• Buildings (Sec-I A)
• Contents (Sec-I B)
• Tenant’s Legal Liability (Sec-I C)
• Burglary & House Breaking (Sec-II)
• Breakdown of appliances (Sec-III)
• Breakdown of electronic appliances (Sec-IV)
• Money Insurance (Sec-V)
• Personal Accident ( Sec-VI)
Contd….
 UNITED INDIA INSURANCE CO. LTD.

COMPACT PACKAGE POLICY

• Infidelity/dishonesty of employees (Sec-VII)
• Legal Liability (Sec-VIII)
• Fixed Glass/Sanitary fittings (Sec-IX)
• Neon/Glow Sign/Hoardings (X)

Cover under Sec-I is compulsory

Minimum 5 sections have to be taken including Sec-I
Renewal/Section discounts are available
 UNITED INDIA INSURANCE CO. LTD.

UNI-HOME CARE POLICY

 Policy designed for the benefits of home financiers
like bank or financial institution
 Policy consists of 2 sections
 Section-I covers building against Fire & Allied perils
 Section-II provides PA cover to borrower against
death due to accident & is meant to protect the
financial interest of the financial company
 Minimum period of cover is for 3 years & maximum
for 15 years with S.I. from 1 lac to 25 lacs
Baggage Insurance

• Covers personal accompanied baggage of the insured and/or

his family members traveling with him against the risks of
their baggage being lost,destroyed by Accident,Fire or Theft
• Rating based on travel plans- in case it is extensive,the risk
factor increases and rates are charged accordingly.
• Must be insured for it’s full value,as condition of average is
applicable for under insurance
• Concealment or misrepresentation of any material fact will
make the contract void ab initio
• An article in set must be subject to Pair & Set Clause

66
 Baggage Insurance-exclusions
• Loss,destruction or damage due to
– Acts or omissions of servants or agents
– Wear & tear,depreciation,deterioration
– Any process of cleaning,repairing,restoring,
– War and allied perils and Nuclear exclusions
– Any consequential loss
– Leakage,spilling or exuding of liquids,oils

67
 Baggage Insurance-exclusions
• Loss of articles like sticks,umbrellas
• Property in use on the voyage or journey
• Articles or clothes whilst being worn or carried
loose
• Cash,coin,notes,securities,travel documents,
precious stones,deeds, negotiable instruments
of any kind

68
 Excluded-unless specifically covered
• Fragile articles i.e. plate glass,vacuum flasks
Camera, Chinaware, glass items, Musical
instrument
• Precious metal items, jewelleries
• Clocks,works of art and antiques
• Perishable goods,

69
 Plate Glass insurance
• Insured should merit special consideration for
accepting such risk
• Scope of cover includes loss/breakage to the plate
glass fixed on the display windows or show cases of
commercial establishments
• The maximum indemnity is value of the glass at the
time of loss or S.I. Whichever is less
• Unless mentioned the cover does not include
embossing,silvering,lettering or ornamental
work,bent or any special type of glass

70
Plate Glass insurance-exclusions
• Fire Gas heat or explosion
• Convulsions of nature-earthquake, volcanic
eruptions, flood cyclone, hurricane ,tornado
• War & allied perils, nuclear reactions,Riot strike
civil commotion
• Loss or damage to window frames & fittings
• Cracked or imperfect glass or scratches on the
glass
• Breakage during removal,alterations or repairs

71
Exclusions under the Plate Glass policy
• Consequential loss-interruption of insured’s business
during restoration of the loss
• Willfully caused by insured or his/her agent
• Cost of removal,replacement of any fitting/fixtures
necessitated for removal of broken glass
• Superficial damage-scratching,disfiguration,
discolouration,fracture not extending through the
entire thickness of the glass

72
Underwriting guidelines for Plate Glass
policy
• Pre-acceptance inspections should necessarily be
carried out for verifying any earlier damages if any
and also for proper size and identification of Plate
Glass
• Proposal form must contain the full description of
the risk and the measurement of the plate glass
• Newly fitted glass is undesirable risk mainly because
of shrinking,warping of the wood work which takes
time to settle and damage the glass-else deferred
cover can be considered

73
Underwriting guidelines for Plate Glass
policy
• Locality factor should be taken into account viz,
street corners,slum area,disturbed localities,narrow
thoroughfare with heavy traffic
• Vacant premises provide greater hazard as damage
may be affected easily without detection
• Possibility of damage in smash and grab raids-public
houses,showrooms,garages
• Type of glass
• Previous claim experience

74
Condition for coverage for Plate Glass
Policy
• The coverage under the policy applies only so
long as the glass is fixed Glasses fixed on
doors,windows should be declined
• Insurance cover will cease if any alterations
are carried out
• Insurance cover will cease if the occupancy is
changed as the exposure to risk may increase

75
 Claim settlement
• Description of the situation of the glass
• Size and the value of the glass plate broken
• Cause of breakage and intimation to the police and
the insurer
• Narration of any witness ,if any
• Survey is done for heavy breakage
• For minor losses it is settled on the basis of in house
survey and claim form
• Insurer can reinstate or pay the intrinsic value of the
broken glass
• Salvage should be recovered wherever possible by
cutting the glass

76
 Television Insurance Policy
• Non-tariff business
• Loss or damage to TV including aerial fittings
• Liability of the insured towards third party injury or
property damage arising out of the accidents caused
by the apparatus sub to specified limit declared
including legal cost and expenses
• Loss or damage to the property belonging to or in
the custody of the insured by breakage of or collapse
of the TV antennae fittings subject to specified limit

77
 Perils covered
• Fire, lightning,explosion
• Bursting and overflowing of water tanks
• Accidental external means
• Aircraft or articles dropped there from
• Short-circuiting,specifically if so desired
• Flood, hurricane,inundation, storm, tempest, cyclone
• Earthquake,fire & shock
• Mechanical or electrical breakdown
• Burglary,housebreaking,theft,riot,strike,malicious act

78
 Exclusions under the TV policy
• External antennae or fittings by theft unless the TV
set is stolen at the same time.
• Consequential loss,
• Contractual liability
• Wear and tear and Depreciation
• Failure or damage caused by normal atmospheric
conditions
• Loss arising from erection,repairing or dismantling of
the apparatus
• War and allied perils and Nuclear radiation or
ionization

79
 Exclusions under the TV policy
• Burning out of valves or coils I/c
• Mechanical derangement
• Mechanical or electrical breakdown unless caused by
any of the insured perils
• Defects existing before the inception of the policy
• Costs incurred for normal maintenance
• Willful act or gross negligence on the part of the
insured

80
 Neon sign insurance
• Loss or damage to the neon sign installation by
accidental external means,fire,lightning,external
explosion and theft
• Third party liability caused due to the loss of Neon
Sign
• The neon sign should be examined regularly by the
competent person and report maintained
• Safety measures to be adopted for the prevention of
loss a result of collapse of the Sign
• The physical characteristics of the property on which
the sign is erected or attached and the features of the
surroundings are important
• Whether the area is prone to windstorms,gale

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 Exclusions under Neon Sign
• Fusing or burning out of bulbs,tubes
• Repair cleaning removal or erection,wear and tear
• Overrunning,overheating
• Atmospheric conditions
• Consequential loss
• War & kindred perils
• Strike & riot unless specifically asked for

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 Pedal Cycle Insurance
• Loss or damage to the pedal cycle by fire, lightning,
explosion,burglary, housebreaking, theft or accidental
external means subject to certain compulsory excess
• Insured’s legal liability for bodily injury to the public
or property damage subject to max. say Rs 15000
• Loss or damage to tyres,lamps,tools accessories are
covered only if the cycle is also damaged
simultaneously
• Wear & tear,mechanical breakdown,war allied
perils,nuclear radiation,convulsions of nature are
excluded

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