Negligence of worker or defect in premises resulting into third party personal injury and property damage can be covered.
Standard fire policy provides protection only against material loss i.e. loss/damage to properly insured. But fire causes more than material loss, which is loss of earnings, i.e., revenue/income during periods of interruption of business which necessarily follows damage by fire. Loss of profits insurance provides indemnity for such loss to make good net profit and standing charges.
Engineering insurance are of various nature depending upon the nature of the risk exposure e.g. construction/erection/boiler and pressure plants/machinery breakdown/electric equipment/certain forms can be extended to cover third party liability. Combined cover is also available for marine-cum-erection/storage-cum-erection. Loss of profits following machinery breakdown or boiler explosion is also available. For construction phase risks,Advanced Loss of Profits (ALOP) is available to take care of financial consequences of delay in commencement of commercial operation caused by physical loss or damage to the contract works, including extra expenses to avoid or minimize a delay.
This provides compensation to all workmen engaged in any particular work against injury in the course of and out of employment. This cover could also extended to cover medical expenses incurred.