Industrial fire insurance
is specifically developed for the purpose of providing insurance cover of the property of Bulgarian and foreign physical persons and legal entities, which perform manufacturing or non-manufacturing activities.
Covered under the policy is property belonging to or rented on legal grounds or held in care or in custody or control by the insured, including:
- Real property – industrial and non-industrial buildings;
- Movable property – plant, machinery and equipment; computers, audiovisual and office equipment, means of transport, farm equipment, expenses for acquisition of fixed tangible assets, other fixed tangible assets, works of art;
- Stock-in-trade: goods; materials and raw materials, semi-finished products, production;
- Movable and immovable property of other parties located on the insured site and in ownership of third parties, lawfully held in care or in custody or control of the insured.
- Under special conditions the following is insured:
- electronic equipment;
- machinery breakdown;
- business interruption;
- deterioration of goods in refrigeration chambers due to fluctuation in temperature of storage etc.;
- money in safe or in vault;
- war risks, riots, strikes, civil commotion and unrest, sonar waves, terrorism and sabotage.
The Industrial Fire insurance covers property of sum insured over BGN 1,000,000.
- The following risks are covered:
- fire and the consequences of its extinguishing, lightning, explosion and implosion, impact from an aerial device or objects and parts falling therefrom;
- natural disasters (storm, hurricane, falling trees and branches, torrential rain, flood, damage from pressure due to natural drifts of snow or ice, avalanche; underground water or sea waves; landslide and landslip; hail; frost;
- impact of motor vehicle or animal; breakdown of elevating machines; damage to property during transportation from one location to another by own or rented vehicles; sudden leakage of water from sprinkler installations; failure of plumbing, sewerage, heating and air-conditioning installations; short circuit and current rush;
- burglary carried out by technical device;
- vandalism, incl. arson and malicious explosion;
- loss of rental income;
- public liability of the insured, resulting from the occurrence of a risk covered under the policy;
- debris removal; transfer and storage of insured personal property; fees of experts, engineers and architects;
- broken glass, shop windows, advertising tables and signs.
- The sum insured
is fixed by the insured on the basis of the carrying amount, book value, real value or other sum stated by the Insured. The sum insured in respect of some type of property or risks covered can be determined as agreed limit of liability. In this case the insurance is on the first risk basis.