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Submitted by-

Lovkush Gupta
Nitesh Baraliya

Loss or damage.
Any restrictions on reconstruction or operation imposed
by any public authority.
An extension of the normal repair period for more than 4
weeks on account.
Willful act or willful neglect or gross negligence of the
insured or his responsible representatives.



Alterations improvements or overhauls being made
while repairs or replacements of damaged or
destroyed property are being carried out.
Loss, damage and/or liability caused by or arising
from or in consequence directly or indirectly.
Loss or damage caused by any faults or defects.

CONDITIONS
This Policy and the Schedule(s) shall be read
together.
This Policy shall be avoidable in the event of
misrepresentation, misdescription or
nondisclosure in material particular.
The Insured shall be obliged to keep complete
records.

GENERAL RULES &
REGULATIONS
Policies are normally issued on turnover basis.
Insurers can extend MLOP Cover on DG Sets subject
to adequate re-insurance support .
With regard to the issuance of MB (LOP) policies.

Rules for cancellation
Increase in sum insured
Minimum time exclusion under lop policies
Rating
Rounding off rates
MLOP insurance cover for dg sets

PROVISIONS
Benefits from other premises
Relative importance
Returns of premium
Overhauls
Reinstatement of sum insured
SCR(Storage cum
erection)
GENERAL REGULATIONS FOR SCR

Jurisdiction
Scope
Marine/transit risks connected with erection all risks
insurance
Sub-contracts forming part of a project
Sum insured
Storage risks at the fabricators premises/workshop


Erection all risk rates.
Additional rate for dismantling cover.
Additional rates for earthquake (fire & shock) perils.
Excess for claims arising out of major perils/acts of god
perils.
Rules for fire protection for construction/erection sites.
Higher excess discount.


Clearance and removal of debris.
Third party liability cover.
Terrorism cover.
Civil works.
Cost of erection.
Surrounding property of the insured.

Escalation provision.
Mid-term increase in sum insured.
Additional rate for express freight (air freight
excluded) holiday and overtime rates of wages.
Additional rate for air freight only.
Additional customs duty.
Construction machinery plants and equipments.


Rates for extension beyond policy period.
Maintenance visits cover and extended maintenance
cover.
Test run definition in respect of thermal power
plants.
Testing period for plants other than thermal power
plants.
Suspension of testing period.









Combined cycle power plants.
Cover for catalyst under sce/ear policy issued to
fertilizer & chemical plants.
Refund of premium for early completion of the
project.
Refund of premium for cancellation of ear/sce policy.
Gross rates.
Issue of fire policy during the testing period.