Shikhar Insurance Company Ltd. (SICL) is an established General Insurance Company promoted by a young team of reputed Industrial and Business Houses involved in various fields like Aviation, Banking, Manufacturing, Trading, Travel Trade, Media Houses etc.
This is also specially designed policy to protect the interest of the contractors and principal as well as sub-contractor, Lender (Bank/Financial Institution) in respect of erection and installation of plant and machinery. This is all risk policy covering every risk, which is not specially exclude.
All such risks normally include,
Under this policy, Company will not indemnify the Insured in respect of loss, damage or liability directly or indirectly caused by or arising out of or aggravated by -
The sum insured should be the full value of contract works including basic cost of Plant/Machinery, Taxes, Freight Charges, Custom duty, Handling Charge, Erection Cost etc.
Shikhar Insurance Company Ltd. started this policy from 17th November, 2004.
Issued Date: 2004-11-17