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What is an Industrial All Risks (IAR) insurance?  

Industrial All Risks cover not only all the “ named perils” of fire insurance but also extends to cover “ accidental damage” which could not be covered under fire insurance, only subject to specific exclusions of the policy. It also covers for sudden and unforeseen loss by any perils other than by exclusions.  

What can be insured? 

All buildings, all machineries, all furniture and stocks in the premises. 

Difference between Fire Insurance and Industrial All Risks (IAR) 

Fire insurance covers losses from accidental fire, infectious fire, lightning, domestic gas explosion.   Industrial All Risks insurance covers all perils unless the peril is excluded in policy.  

Why is Industrial All Risks (IAR) insurance a must-buy insurance for large industries’ owners?  

Industrial All Risks covers not only all the “ named perils” of fire insurance but also extends to cover “ accidental damage” which could not be covered under fire insurance, only subject to specific exclusions of the policy. In addition, it also covers for sudden and unforeseen loss by any perils other than by exclusions as well.