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Office Umbrella Policy is a comprehensive insurance policy that offers
protection to business enterprises against different kinds of risks and
contingencies. It is a single insurance policy, which is suitable for large MNC-owned
offices, as well as small and medium sized offices such as travel agencies.
Professionals including chartered accountants, architects, engineers or any
other service provider can also acquire benefit from office umbrella policy.
Being a package policy, the office umbrella insurance provides total coverage of
all risks that are common to office environment and does away with the need to
take different policies. Go through the following lines to know all about office
umbrella policy prevalent in India.
Office Umbrella Insurance
Under the following 12 sections of the Office Umbrella insurance policy, all
assets and liabilities of a modern office environment can be insured.
* Buildings inclusive of landlord's fixture and fittings, boundary wall and
fences belonging to insured's or for which he/she is responsible
* Contents contained in the office and tenant's legal liability
* Money while in office or in transit from or to the office
* Fixed glass and sanitary fittings from accidental breakage
* Losses caused by fraud or dishonesty committed by any salaried employee of the
same office
* Electronic equipment in the office, including mobile gadgets are also included
in the office umbrella policy
* Additional rent required for alternative accommodation in the event of a
materialistic loss
* Bodily injury to insured persons by the means of accident
* Breakdown of appliances due to electrical and mechanical causes
* Accidental loss or damage to the baggage of persons during official journey
* Liability to public for accidental bodily injury and property damage
* Loss of income due to the interruption in the business in question
Other Clauses Of Office Umbrella Insurance Policy
* The office umbrella insurance policy pays for the cost of replacement or
reinstatement including removal of debris and consultation fees, in the wake of
any damage to the building premises.
* In event of any accident occurring to the named employees, damages concerning
hospitalization, ambulance charges and costs of clothing can be claimed.
* In case of business interruption, the office insurance takes care of the loss
of income, including increased cost of working and additional expenditure such
as setting up of a temporary office, cost of substitute equipment, hiring
personnel, professional charges and additional expenditure such as rent,
electricity, taxes, and costs of removal. |
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