Policy snapshot
All-inclusive insurance plans for large industrial undertakings, combining fire, burglary, accidental damage, machinery breakdown, and business interruption under one policy.
What is Industrial All Risk (IAR) and Mega Risk Insurance?
IAR and Mega Risk policies are comprehensive solutions for large enterprises, covering everything from fire to terrorism in one consolidated policy. Ideal for high-value, high-risk industries.
What can it cover?
- The policy provides blanket coverage for accidental physical loss or damage from fire, natural calamities, theft, electrical faults, and equipment breakdown. It includes or can add burglary and terrorism coverage. It also covers loss of profit due to business interruption arising from insured perils.
Who should consider it?
- Large manufacturers, industrial units, energy, infrastructure, Asset-heavy operations above ₹100 crore value, Businesses needing uninterrupted risk protection across multiple peril
Key features to understand
- {"heading": "Key Features", "bullets": ["All-risk cover for property, machinery, stock", "Burglary, machinery breakdown, and BI built-in or optional", "Terrorism cover included or offered as an extension", "Tailored to asset values typically over ₹100 crore", "Requires risk inspection and underwriting"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.