The policy provides a comprehensive cover against unforeseen and sudden physical damage to property by any cause not specifically excluded:
- Location risks-Fire/lightning/theft/burglary
- Impact from falling objects-collision
- Risks of human element-Carelessness/fault material/riot/strike/malicious damage/terrorism
- Act of GOD: Storm/tempest/Hurricane flood/landslide etc.
- Electrical or mechanical breakdown.
- Explosion of any boiler or pressure vessel.
- Loss or damage due to wear and tear corrosion
- Loss of damage while in transit from one location to other.
- War perils, civil commotion, nuclear perils etc
- Chemical exhaust or residue which is/are pollutant(s)
- Fumes as a result of R&D
- Testing on animals (rats etc.) – possible claim by Animal Rights activists.
Liability on employer as a result of injury to employees during discharging their duty. This could be Vicarious Liability as well.
Cover for employees for injuries which are work related.
Technical Collaborator’s Extension
- Strict Liability.
- Inability to recall.
- Design Defects.
- Product Withdrawal & Crisis Management Expense.
- Emergency Medical Expenses for bodily injury in case of human clinical trials including trial related athletic activities.
- Employees who voluntarily participate should not be excluded.
- Vendor’s Extension.