Industrial fire insurance is designed for relatively large projects with more than 50 employees and / or general insurance amount over 500 thousand Levs. Object of the insurance is the real and personal property owned or for which the insured is responsible. In mortgaged or pledged property insurance may be taken out in favor of the creditor.
Base insurance cover includes loss or damage resulting from fire (including the effects of firefighting), lightning, explosion or implosion, aircraft , parts or cargo, as well as costs incurred by the Insured for limiting damage due to an insured event.
By arrangement coverage can be extended to:
- natural disasters (including storm, hail, heavy rain, flood, natural accumulation of snow and ice, freezing, falling trees, branches and other objects in consequence of a storm or hail), earthquake, leak of water piping , malicious acts of third parties, impact of a vehicle or animal, damage and losses during transport when changing address;
- cost of removal of debris and / or relocation, protection and preservation of the insured property;
- broken glass permanently fixed with the possibility of coverage on an ” all risks”.
The sum insured can be determined on the basis of actual or replacement value or based on accounting data (carrying or book value). The insurance premium is determined based on the rates of the insurer and depending on the insured property, the agreed scope of coverage and specific risk factors.