LOSSES NOT COVERED:
The under mentioned losses are excluded from the Standard Fire Policy:-
(a) loss by theft during or after the occurrence of a fire;
(b) loss or damage to property occasioned by its own fermentation, natural heating or
spontaneous combustion or by its undergoing any
heating or drying process:
(c) loss or damage occasioned by or through or in
consequence of the burning of property by order of any public authority or
subterranean fire:
(d) loss due to nuclear risks:
(e) loss of or damage to a particular electrical machine,
apparatus, fixture etc.due to fire arising from short circuiting or other electrical risks
unless extra cover for electrical damage is taken.
PROPERTY NOT COVERED:
The below mentioned property can not be
covered ordinarily under the Standard Fire Policy on account of condition No.7, but they
could be covered by making a specific reference:
a) Bullion or unset precious stones;
b) Any curisity or work of art for an amount exceeding
Tk.2500/-
c) Manuscripts, plans, moulds etc.;
d) Securities, stamp, coins or paper, money, cheques, account books, computer system,
records etc.;
e) Explosives
SPECIAL PERILS FIRE POLICY:
To meet demands of varying needs of the
insured special types of policies can be designed with certain modifications of the basic
indemnity provided under a Standard Fire Policy.
INDUSTRIAL ALL RISKS POLICY
The company also issues "Industrial All Risks"
Policy in respect of big industries whose value exceeds Tk.100 crore.
LOSS OF PROFIT/CONSEQUENTIAL LOSS POLICY
Fire insurance is designed to cover the
ascertainable loss of material objects, such as building, machinery, fixture, plant, stock
and commodities whilst profit insurance is concerned with loss of earning power consequent
upon the capital loss. In Bangladesh standard form of policies and premium rates are
available. Pragati has issued many policies both to local and multinational companies.
Details of policies and procedure can be obtained on request.
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