IAR (Supreme) Insurance
Complete Protection for Industrial Risks
Industrial All Risk (Supreme) Insurance provides end-to-end risk protection for industrial and commercial operations by covering physical assets, machinery, and business income under one policy. It helps businesses manage financial impact arising from unexpected events that disrupt operations or damage property.
Key Benefits
- All-in-one coverage for property, machinery, and business interruption
- Protection against fire, natural calamities, and accidental damages
- Covers machinery breakdown and electrical or mechanical failures
- Compensates loss of profit due to operational downtime
- Flexible and customizable coverage options
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What is IAR (Supreme) Insurance?
IAR (Supreme) Insurance is a comprehensive insurance arrangement that integrates property damage and business interruption coverage. It is structured for high-value industrial risks, ensuring operational continuity when losses occur due to insured events such as fire, equipment failure, or natural disasters.
Why do you need IAR (Supreme) Insurance?
Comprehensive Asset Protection
Protects buildings, plant, machinery, furniture, and stock from accidental loss or damage.
Machinery Breakdown Cover
Covers sudden mechanical or electrical breakdown of critical equipment.
Loss of Profit Protection
Compensates loss of revenue caused by insured events leading to business interruption.
All Major Risk Coverage
Covers fire, flood, storm, cyclone, earthquake, and other major perils.
Why choose Insurance Manager to protect your business?
Expert Risk Assessment
Detailed evaluation of assets, operations, and risk exposure.
Comprehensive Protection for Your Workforce
Ensure employee well-being with complete health insurance coverage.
Cost-Effective Group Insurance Plans
Affordable plans with benefits like maternity, critical illness, and dependent coverage.
Quick Quote & Issuance
Fast turnaround for quotes and policy issuance.
Peace of Mind for Employers and Employees
Reduce financial stress with cashless claims and reimbursement options.
24×7 Support & Claims Assistance
Continuous support throughout the policy and claims process.
Boost Employee Productivity and Retention
Build loyalty and motivation by easing economic and mental burdens.
IRDAI Certified Advisors
Professional guidance from certified insurance experts.
What does IAR (Supreme) Insurance cover and exclude?
Plan Coverage
Fire & Lightning
Covers accidental fire and lightning damage to insured buildings, machinery, and contents.
Explosion / Implosion
Provides cover for damage to boilers, machinery, and pressure vessels due to explosion or implosion.
Riot, Strike & Malicious Damage
Covers physical loss or damage caused by riots, strikes, or malicious acts occurring unexpectedly.
Storm, Cyclone & Flood
Protects against losses resulting from natural calamities such as storms, cyclones, and floods.
Impact Damage
Covers damage caused by impact from vehicles or falling external objects during operations.
Machinery Breakdown
Covers sudden and unforeseen mechanical or electrical breakdown of insured machinery.
Loss of Profit (Business Interruption)
Compensates loss of profit resulting from insured damage that interrupts business operations.
Additional Extensions
Includes cover for debris removal, professional fees, and temporary storage expenses.
Major Exclusions
Wilful or Intentional Damage
Losses arising from deliberate or intentional acts by the insured are not covered under the policy.
Normal Wear and Tear
Damage due to gradual deterioration, ageing, or regular usage over time is excluded.
Consequential Loss Not Insured
Losses not arising directly from insured business interruption are excluded from coverage.
War and Nuclear Risks
Damage caused by war, invasion, or nuclear risks is not covered under the policy.
Poor Maintenance
Losses resulting from lack of proper or regular maintenance of assets are excluded.
Uninsured Perils
Perils not specifically mentioned in the policy wording are not covered under this insurance.
Contractual Penalties
Fines, penalties, or liquidated damages imposed under contracts are excluded from coverage.
Claims Beyond Policy Period
Losses occurring outside the active policy period are not admissible for claims.
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When can I Claim?
A claim can be made when:
- Insured property suffers damage due to covered perils
- Machinery breakdown causes operational interruption
- Business operations are halted due to insured loss
- Loss of profit arises from business interruption
Claims must be intimated immediately and reported as per policy terms.
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