This is yet another general insurance policy from ICICI Lombard that has been formulated specifically to offer insurance cover to malls and multiplexes of India. This is one such policy that allows the owner of a mall to go for the insurance cover that perfectly suits their requirements for making their property safe from all kinds of perils.
The mall and multiplex policy of ICICI Lombard has various components, which are as follows:
* There is a standard fire and special peril policy whose job is to offer insurance cover from the loss that is caused due to fire and other special peril caused due to fire.
* There is the option of machinery breakdown that offers insurance cover for the losses that are caused due to machinery failure.
* Plate glass policy is the one that is also offered in this policy for the purpose for covering the premises against the damages that are caused due to the breakage of any flat glass panel or tube.
* Fidelity guarantee policy has also been offered whose task is to cover the monetary loss that is incurred due to the negligence or dishonest act of an employee.
* Public Liability is there to cover the insured toward third party damages regarding accidental or severe injury in an accident. This policy also safeguards the insured from various legal liabilities.
* There is money policy that covers the loss of money, which have been incurred during transit.
In mall and multiplex policy of ICICI Lombard, the premium is calculated on the basis of the number of above mentioned sections that have been opted by the insured. Apart from this, the value of the property and the number of employees are also taken into acc