SICOM

Fire And Allied Perils
Property insured usually consists of immovable and movable property such as buildings, plant and machinery, stocks, furniture, fixtures and fittings, and other contents.

The basic risks covered are that of fire, lightning and a limited explosion cover. Additionally, natural perils such as cyclone, flood, volcanic eruption, earthquake, tidal wave, subsidence, landslip and heave can be covered. Other perils usually insured under this policy are full explosion, impact damage, fall of aircraft, bursting or overflowing of water tanks, apparatus or pipes, sprinkler leakage and burglary.

Business Interruption
This policy covers loss of profits or loss of revenue following business interruption due to property damage as insured under the Fire and Allied perils policy.

In addition to loss of profits, the policy will also pay ‘increased cost of working’ which is additional expenditure incurred with the consent of the Insurer to minimise the loss of gross profit which would otherwise result from the property damage.

All Risks
The All Risks insurance is a wider form of cover available for property. It covers accidental loss, damage or destruction of the property insured by fire or other cause, which is not specifically excluded. Normally each item insured is specifically identified and a sum insured is indicated for each item.