Retail - Farmers's Package Policy Farmer's Package Policy is designed to take care of the insurance needs of a Farmer. It covers both the personal assets of the farmer like the dwelling & its contents both against Fire & Theft and also the assets which help him in earning his livelihood. Such assets include items such as Cattle, Pump Set [Electric/Diesel], Animal Driven Cart, Bio gas Plant and also his tractor, Trulley and other Agricultural Equipments. Such coverage is both for the damage to the Vehicle as well as any Third Party Liability which may be brought on him while using the vehicle in Public Place. The Policy also provides protection to the farmer and/or his legal heir in case of the accidental death or Permanent Disablement to the insured.
Retail - Shopkeepers Insurance Policy
Universal Sompo's "Shopkeeper's Package Policy" is devised to cater to the overall various exposures of your business as a shopkeeper. We have under one single Policy combined a number of contingencies for your convenience and comprehensive coverage.
Section 1 - Fire Allied perils - Building Contents This Section covers
Section 2 - Burglary Robbery The Section covers loss or damage by actual or attempted burglary and/or robbery during the Policy Period in respect of the fullowing:
Section 3 - Money in Transit This Section will indemnify you in respect of money in transit, carried by you or your authorised employee(s), occasioned by theft, robbery or any other fortuitous event.
Section 4 - Plate Glass and Neon Signs/Glow Signs This Section covers:
Section 5 - Electronic Equipment This Section covers:
Section 6 - Breakdown of Business Equipments The Section covers the business appliances/ apparatus such as Air Conditioners, Freezers etc against unforeseen and sudden physical damage caused by or sulely due to mechanical or electrical breakdown.
Section 7 - Personal Accident This Section covers Bodily injury to you or your employees named in the Policy resulting to the death or disablement leading to:
Section 8 - Fidelity Guarantee This Section covers you against any direct pecuniary loss caused by act of fraud or dishonesty committed by any salaried person employed by you in the insured premises.
Section 9 - Public Liability This Section covers you against legal liability including the Defence costs incurred by you against:
Caused in the course of the Business by an accident in your business premises if notified during the Policy Period.
Section 10 - Workmen's Compensation This Section provides you cover against liability towards your Workmen under the Workmen's Compensation Act, Fatal Accident Act and at Common Law.
Section 11 - Business Interruption This Section covers your financial losses due to business interruption arising out of any of the perils covered under Section 1 of the Policy.
Note: The above are only the salient features of the Policy , for complete terms and conditions please refer to Policy Wordings.
Retail - Jeweller Block Insurance Policy
Universal Sompo's "Jeweller's Block Insurance Policy" is package Policy designed to meet the insurance needs of jeweller's and other establishments dealing in diamonds, precious stones. The Policy protects the jewellery ,bullion ,cash etc. at his premises against Fire & allied perils and losses due the burglary and robbery. The Policy also provides protection when such valuables are in transit or , under the custody of the insured,directors,employees ,cutters, sorters . In addition to the valuables the furniture and other business equipments may also be covered against Fire and Allied perils and other perils.
Section 1 - Fire & Allied perils , Burglary ,Robbery for Jewellery ,Cash & valuables whilst at premises
Section 2 - Fire & Allied Perils , Burglary ,Robbery for Jewellery , & valuables whilst under the custody of the insured or his representative
The Section covers loss or damage to the contents as mentioned in Section 1 above excluding cash and currency notes whilst the same are under the custody of the insured, his partners,directors,employees,brokers,cuttersand sorters due to any perils as mentioned under the above mentioned section.
Section 3 - Jewellery , & Valuables whilst under transit
Loss or damage to your stocks excluding cash and currency as described in Section I above whilst in transit anywhere in India by angadias, registered parcel post, air freight, inland waterways, rail &/or road.
Section 4 - Fire & Allied perils , Burglary ,Robbery for Furniture ,Fixtures and office equipments and machine
This Section covers the furniture, fixtures ,office machines like Airconditioners,fax machines EPABX and other similar machines used for the business purposes by the jeweller. The cover is provided against the fullowing perils:
Retail - Burglary Policy
Burglary Policy stocks and contents owned by you or for which you are responsible or held in trust and/or commission at the insured premises. It also covers cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard on specific request.
The Policy covers loss or damage caused by
The Policy also provides for a limited coverage upto 5% of "Limit of Liability" subject to a maximum of Rs 10,000/- per event in respect of the fullowing:
The Policy does not cover the fullowing:
Note: Exclusions 1, 2 & 3rd can be covered specifically on required information
The Indian Workmen's Compensation Act 1923 provides for the payment of compensation by the employer to his employees (or their dependents in the event of fatal accidents) if personal injury is caused to them by accidents arising out of and in the course of their employment.
The W.C Amendment Act of 2000 has widened the definition of workman and now includes persons whose employment is of casual nature. The maximum compensation payable is upon the fullowing scale (as per W.C. Amendment Act 2000)
Universal Sompo General Insurance Company Limited Workmen's Compensation Policy gives an employer any of the fullowing two forms of cover:
In addition, the company bears the costs and expenses incurred with its written consent in the defence of claims.
The insurance under Table "A"can be extended by charging an additional premium to cover disease mentioned in Part 'C' of Schedule III of Workmen's Compensation Act.
This insurance does not cover any interest and/or penalty which may be imposed on an insured on account of failure to comply with the requirements of the said Workmen's Compensation Act, 1923 as amended.
Retail - Fidelity Guarantee
The Policy can be availed by any employer having employees handling any goods and/or money. Cover will be granted to only those employers having proper system for keeping records of all transactions
Universal Sompo's Fidelity Guarantee Policy covers financial loss suffered by the Insured as a result of forgery, embezzlement, larceny or fraud/dishonesty or fraudulent conversion of money or money's worth or goods by the employees of the insured. The Policy pays the actual financial loss sustained as a result of the dishonesty/fraudulent act of the employee. Amount payable under the Policy is subject to adjustments against any salary, commission security deposit or any other money standing to the credit of the fraudulent employee The loss is payable up to the limit specified for the employee. The Policy does not pay more than one claim in respect of liability/loss arising out of an individual employee's acts.
The Policy does not cover any loss if
Retail - Money Insurance
This Policy protects industrial and business establishments against loss of Money whilst carried by employees or authorized persons from one place to another, it does not cover Money on counter during business hours and kept in locked safe out of business hours. The term Money under this Policy means cash, Bank Drafts, Current coins, Bank and Currency Notes, Treasury Notes, Cheques, Postal Orders, Current Postage Stamps which are not part of a cullection and luncheon Voucher.
This is a package Policy designed to cater for the complete insurance requirement of an office. Under a single Policy are combined a number of contingencies, which are normally covered as separate pulicies.
Section 1 - Fire Allied Perils - Building and Contents
This Section covers Buildings and contents excluding money and valuables. The perils covered include Fire, Lightning, Explosion, Implosion, Aircraft Damage, Riot, Strike, Malicious Damage, Storm, Cyclone, Typhoon, Tempest, Hurricane, Flood, Inundation, Impact damage due to rail/road vehicle/Animal, Subsidence, Landslide, Rockslide, Bursting and/or overflowing of water tanks, apparatus, pipes, Missile testing operations, Leakage from automatic sprinkler installations, Bush fire and Earthquake. You can avail of the extension towards Terrorism, Loss of Rent and Additional Rent for alternate accommodation under this cover on the payment of additional premium and get yourself secured against these eventualities.
Section 2 - Burglary Robbery
This Section provides indemnity against the loss of or damage to the contents in your premises against the risk of burglary/robbery. Cover is also extended to indemnify you for damage to your premises during burglary/robbery, Loss of money from your safe or strong room and loss of money from cashiers till/counte.
Section 3 - Business Interruption (Fire)
This Section cover loss of gross revenue and increased cost of working for the indemnity period for which you opt to cover, arising out of any perils covered under Section I of this policy. However, any money saved by you during the indemnity period under working expenses and standing charges shall be deducted from the claim amount.
Section 4 - Money Insurance
This Section covers Loss of money while in transit whilst carried by you or your employees, caused during the Policy period by robbery, theft or any other fortuitous event not specifically excluded.
Section 5 - Plate Glass Neon Sign/Glow Sign
This Section covers any Sudden, unforeseen, accidental loss or damage to Plate Glass/Neon Signs/Glow Signs.
Section 6 - Electronic Equipment Insurance
This Section covers Loss or damage to Electronic Equipment caused by unforeseen and sudden accident from any cause other than those specifically excluded. The cover also extends to Loss or damage to External Data Media and/or costs of restoring information and data stored therein.
Section 7 - Breakdown of Business Equipment
This Section covers Loss or damage to Business Equipments by unforeseen and sudden accident from any cause other than those specifically excluded, whilst located in the premises and necessitating its immediate repair or replacement.
Section 8 - Personal Accident
This Section covers compensation for accidental bodily injury directly resulting to the Death or Permanent Total Disability to the insured person as per the Table of Benefits.
Section 9 - Fidelity Guarantee
This section covers direct pecuniary loss sustained by you in consequence of any fraudulent or dishonest act of an Employee
Section 10 - Public Liability
This Section covers Legal liability to pay compensation including the Defense costs incurred by you with our written consent, anywhere in India, in accordance with the Indian law, against
Retail - All Risk Insurance Policy
All Risk Policy is a product designed to cover your valuable movable equipments like laptops, mobile phones, handi-cams, jewellery, and the like which do not remain confined to your own home and are exposed not only to natural perils but also to perils such as theft, snatching, etc. Barring a few perils like Earthquake, War etc., the Policy offers very comprehensive protection against many perils including any accident or misfortune not expressly excluded.
The Policy generally covers the fullowing:
Note: :The above are only the salient features of the Policy , for complete terms and conditions please refer to Policy Wordings.
Fire insurance Policy covers all immovable and movable property located in a particular premise such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or on commission.
This Policy covers loss or damage to the insured assets resulting from:
This Policy does not cover the fullowing:
Marine Cargo Policy covers goods (machinery, raw materials, finished goods etc) during transit under a contract of affreightment.
The scope of cover shall be determined by the Institute Clauses attached to the Policy.
All Overseas Transits are subject to Institute Cargo Clauses A,B C given by Institute of London Underwiters. The brief coverage is as under:
Goods (merchandise) dispatched by rail or road from any place in India to any place in India (not in conjunction with an overseas voyage) are subject to Inland Transit (Rail/Road) Clause A,B C. The brief coverage is as under:
Machinery Breakdown Policy covers Mechanical and Electrical Machinery and/or equipments owned by you or for which you are responsible or huld in trust and/or commission at the insured premises.
The Policy covers unforeseen and sudden physical damage to any mechanical and electrical machinery and/or equipment by any cause necessitating repairs and/or replacement. Coverage includes:
Loss or damage resulting from:
Electronic Equipment Insurance Policy covers Electronic equipments owned by you or for which you are responsible
The Policy covers all accidental, unforeseen and sudden physical loss or damage to any electronic equipment (Including system software). You have an option to include coverage for External Data Media. You can also opt for Increased Cost of Working (ICOW) where in we will pay for the additional costs which you shall incur in order to ensure continued data processing on substitute equipment to effectively reduce your losses.
The Contractors All Risks (CAR) Insurance offers comprehensive coverage for all types of civil construction risks. The coverage for physical loss or damage to property is on an "All Risks" basis, i.e. the Policy insures against damage to property in the course of construction by all sudden, accidental and unforeseen causes other than specifically excluded perils and subject to the terms and conditions of the Policy.
CAR policy can be taken by Principal, Contractor or sub contractor, either individually or jointly.
Contractor's All Risks (CAR) Policy covers civil construction such as residential buildings, commercial buildings, factory sheds, warehouses, Pipelines, dams, reservoirs, etc.
Provision also exists for extending the Policy Period and testing period during the currency of the Policy.
Basis of Sum Insured: Completely erected value of the property inclusive of freights, custom duty and erection cost.
Note: The above are only the salient features of the Policy , for complete terms and conditions please refer to Policy Wordings
Erection All Risks (EAR) insurance offers protection to principal and contractors and also to manufacturers and suppliers erecting machinery and plant etc. against financial loss due to any sudden fortuitous and unforeseen causes resulting in loss or damage to the property insured at the project site whilst being stored, erected, tested and commissioned.
EAR Policy can be taken by Principal, Contractor or sub contractor, either individually or jointly.
Erection All Risks (EAR) Policy covers all risks in respect of projects of erection, testing and commissioning subject to specific exclusions and term and conditions.
The details furnished above do not constitute the entire coverage, exclusions, terms and conditions. For full details please refer to our Policy document.
Basis of Sum insured: Completely erected value of the property inclusive of frieghts, custom duty and erection costs.
Boiler Pressure Plant Policy covers Boiler & Pressure vessel installed at your premises against risk of Explosion, Implosion and Cullapse. It can be extended to cover third party liability and other specified risks.
The Policy covers damage due to Explosion, Implosion, Cullapse leading to the
The IAR policy is a true "All Risks Policy" for operational risks. It is more competitive as compared to the present named perils operational pulicies which have a limited scope of cover. In an "All Risks" cover all fortuitous mishaps are insured barring a few named exclusions.
Industrial Units - Both manufacturing as well as Storage Units. (Excluding Petruleum Refineries, Petrochemical and Fertiliser Plants) Overall Sum Insured of Rs.10 crores and above in one or more locations in India.
Material Damage Section Fire & Allied Perils
Theft Burglary (other than Larceny) Transit Risk inside insured premises Boiler Pressure Plant insurance
Machinery Breakdown Insurance
The intangible but more correct way of viewing such a Policy is through its exclusions. In effect, save for the few listed exclusions all accidental damages are covered.
Material Damage Section
1 or 2 can be covered at inception on specific request.
However, if damage ensues from any of these reason such ensuing damage is covered subject to Policy conditions.
The Policy does not cover loss resulting from interruption of or interference with the business directly or indirectly from:
Material Damage Claim
5% of the claim subject to a minimum of Rs.5 lacs and maximum of Rs.50 lacs.
Business Interruption Claims
3 days gross profit subject to a minimum of Rs. 5lacs and maximum of Rs. 50 lacs.
NB:Scheme for higher than Standard Deductible available which fetches attractive discount in premium rate.
Business Interruption Section
In terms of Public Liability Insurance Act, 1991, all "owners" "handling" "hazardous substances" are compulsorily required to take an insurance policy to the extent laid down in the Act.
"Owners" means persons owning or having contrul over handling of hazardous substances at the time of accident.
"Handling" means manufacturing, processing, treatment, packaging, storing, transportation, use, cullection, destruction, conversion, offering for sales, transfer or any similar form of dealing with hazardous substances.
"Hazardous Substances" means the items listed and grouped under Public Liability Insurance Act, 1991 and the Rules framed there under.
Kindly refer to the Public Liability Insurance Act, 1991 for the statutory requirements and complete definitions.
This Insurance Policy broadly covers the Owner's statutory liability on no-fault principle for death or injury to any person or damage to property resulting from an accident while handling any hazardous substance
This Insurance Policy does not cover liability arising out of wilful or intentional non-compliance of any statutory provisions, in respect of fines and penalties.
Premium Rating depends on two factors:
Matching amount is to be contributed towards Environment Relief Fund.
This Policy provides indemnity to the insured against their legal liability to pay compensation including claimant's costs, fees and expenses anywhere in India, in accordance with the Indian Law.
This Policy will indemnify the Insured in excess of the Insured's Deductibles and subject to the limit of indemnity, against its legal liability (including Defence Costs) to pay Damages for third party Civil Claims arising out of Bodily Injuries and / or Property damage :
This Policy does not cover liability
This product is specially designed to cater the needs of any large corporate house with global presence. The product is all risk in nature and can be used by industries such as automobile, steel, & chemical manufacturing, to cover most of the risks associated with their operations. The benefits of the product are as follows
Large Manufacturing units, with Sum Insured [material damage + business interruption] over and above Rs.2500 crores, in one or more locations in India.
The policy is all risk in nature with named exclusion. It consists of two sections:-
Section I:- Material damage
This section coverages the material damage against all risks, such as fire and allied perils, breakdown, theft & burglary including transit risks outside the premises [ but within India]
Section II:- Business Interruption
This Section of the Policy does not insure loss, destruction or damage:
1. Caused by normal and natural:
Unless direct physical loss, destruction or damage from a peril not otherwise excluded under this Section of this Policy results, in which case this Section of this Policy shall insure against such resulting physical loss, destruction or damage;
2. Caused by pollution or contamination except (unless otherwise excluded under this Section of this Policy) direct physical loss, destruction or damage to the Property Insured caused by:
3. Caused by infidelity or dishonesty of the Insured
4. Caused by theft committed by any of the Insured’s employees or in collusion with any of the Insured’s employees;
5. Caused by theft unless such theft involves entry to or exit from premises by forcible or violent means and/or actual or threatened assault or violence to the Insured or to any employee of the Insured;
6. Consisting of Machinery Breakdown other than as defined in Memorandum Number One to this Policy;
7. Caused by vermin, unless either:
8. Consisting of error in design, faulty material, faulty workmanship, latent defect or inherent vice unless either
9. Directly or indirectly occasioned by or in consequence of or arising out of confiscation or nationalisation, expropriation, deprivation requisition seizure of or damage to property by or under the order of any Government or public or local authority, except direct physical loss or damage by order of government or public or local authority to prevent the spread of, or to otherwise contain, control or minimise loss or damage which occurs due to a peril not otherwise excluded under this Policy;
Policy does not cover:
1. Growing crops, standing timber (but not excluding trees at premises of the Insured used for landscaping purposes only), and animals except for research;
2. Watercraft over 30 feet in length, it being agreed that this exclusion does not apply in respect of watercraft on land (other than in dry dock) or permanently on the bed of any watercourse or body of water or where unfueled and manufactured by the Insured;
4. Motor vehicles, but not equipment thereon used for testing and development purposes, licenced for highway use whilst being operated on public roadways;
5. Land, however, this exclusion shall not apply to the cost of reclaiming, restoring or repairing land improvements. Land improvements as described hereunder are defined as any alteration to the natural condition of the land by filling, grading, landscaping (including landscape gardening), earthen dikes or dams, as well as additions to land such as pavements, roadways, car parks, parking lots, transformer enclosures, walkways or similar works,
6. Export shipments after loading on board an overseas vessel, watercraft or aircraft, or after ocean marine insurance attaches, whichever occurs first; and import shipments prior to discharge from the overseas vessel, watercraft, or aircraft, or until the ocean marine insurance terminates, whichever occurs last
7. Overhead power transmission and distribution lines situated more than 1 kilometre outside the perimeter of the premises of the Insured. This exclusion does not apply in respect of the cover provided under the Utilities and Services Extension to Section II of this Policy.
The insured will have the flexibility in choosing deductible based on rates and add-on coverages
5% of the claim subject to a minimum of Rs.5 lacs and maximum of Rs.50 lacs. Or as per reinsurance agreement
3 days gross profit subject to a minimum of Rs. 5lacs and maximum of Rs. 50 lacs. Or, as per reinsurance agreement.
Intimate immediately to our nearest office or on our call center number +91-22-26748600 or on toll free number 1-800-22-4030 (from MTNL & BSNL Lines). Following information needs to be furnished by you while intimating a claim:
In case of any discrepancy, complaint or grievance, please feel free to contact us:
Universal Sompo General Insurance Co. Ltd.
Express IT Park, Plot No. EL - 94, T.T.C. Industrial Area, M.I.D.C., Mahape, Navi Mumbai-400710
Toll Free Numbers: 1-800-224030 (For MTNL/BSNL Users) or 1-800-1024030 or 1-800-2004030
Landline Numbers: (022) 27639800 or (022) 41582900 or (022) 41582999 or (022) 39133700 (Local Charges Apply)
E-mail Address: email@example.com.
Fax Numbers: (022) 41582929 or (022) 41582939
Please include Your Policy number for any communication with us.
Note : The above are only the salient features of the Policy , for complete terms and conditions please refer to Policy Wordings.