Industrial work is the riskiest of all business. It is the most expensive and most laborious to set up and is exposed to the maximum dangers. Recovering from any unfortunate accident or loss in the industry could cost the owner a fortune. These circumstances put a huge financial burden on the owner and if not handled properly could lead to bankruptcy. IFFCO TOKIO General Insurance understands this problem and so they have devised the Industry Protector plan to help the individual handle such risks.
The Industry Protector policy of Iffco Tokio General Insurance covers the risks of fires, burglary, machinery breakdown, equipment failure, money losses, fidelity guarantee, business interruption, liability and personal accidents. The policy only provides compensation to the client for the business interruption caused as a result of the above stated risks and cannot be claimed for losses encountered due to the negligence of the employees. IFFCO TOKIO also provides a range of additional benefits to the customer which is available at his discretion.
The policy covers 10 sections of which at least 4 should be opted for by the client to validate the agreement, however, if 5 or more sections are opted for then the client gets an additional discount on his premium sum.
The Industry Protector policy of Iffco Tokio General Insurance can refuse a claim for losses due to war or hostilities of the employees, illegal activities, pollution, etc. there are other exclusions which are particular to certain sections and are clearly stated in the agreement. The client is advised to read the document carefully before signing it.