Malaysia Fire Consequential Loss Insurance

BASIC COVER 

The fire consequential loss covers loss of Gross Profit, Increase in Cost of Working, Wages, as a consequence of business interruption at the business premise from fire or any other insured peril.

INTEREST INSURED

Profits/revenue/rental of the business, expenditure which continue to be incurred and increase in cost of working in consequence of the occurrence of fire or any perils of the fire policy.

PREMIUM & EXTENSIONS

The basic rate is calculated based on the rate prescribed from Fire Material Damage policy and the premium is affected by the amount of Sum Insured derived from Gross Revenue of a company and the selected Indemnity Period.

The policy can be extended to cover the below with an additional premium:

• Public Utilities
• Customer / Suppliers Extension
• Prevention of Access

Fire Insurance

This policy provides you with coverage for your property against loss or damage by fire, lightning and domestic gas explosion. For an additional premium, it can be extended to cover the following perils namely aircraft damage, impact damage, explosion, storm & tempest, flood, bursting or overflowing of water tanks or pipes, subsidence & landslip, earthquake and volcanic eruption, riot, strike and malicious damage, spontaneous combustion, sprinkler leakage, bush/lolling fire, damage by falling trees or branches and objects.

Fire Consequential Loss

This policy provides you with coverage for loss of profits, revenue, rental, standing charges, wages or salaries on payroll basis and increase in cost of working due to business interruption as a result of fire and/or other extended perils.

Packaged Property Insurance

As opportunities in the business industry grow, so do the potential risks and liabilities. It can be quite a challenge to even just identify all the risks that might impact your business. To ensure that you are adequately protected, we offer flexible insurance packages that can be tailor-made to suit your insurance needs as a business owner.

Property Terrorism Insurance

This policy provides you with protection for your property against physical loss or damage caused by an act of terrorism.

Energy Insurance

Specialist insurance protection in the oil and petrochemicals, power generation, chemicals, construction, offshore and boiler and machinery sectors. Our additional in-house expertise includes loss control consultants, fire protection and mechanical engineers experienced in virtually all energy types of exposures.

Malaysia Fire Insurance

BASIC COVER

The basic fire policy covers loss of or damage to residential or commercial building, furniture, fixtures and fittings caused by or arising from:

Damage by fire & lightning

• Damage by explosions of domestic boiler or domestic gas cylinder not forming part of a gas work
• Damage by water or other extinguishing agents used to put out the fire
• Damage resulting from gaining access to a fire
• Smoke damages caused by fire

INTEREST INSURED

Items that can be insured are:

• Building, renovation
• Furniture, fixtures and fittings
• Office equipment, plant, machinery and utensils
• Stock in trade
• Rent
• Removal of debris
• Professionals fees
• Personal Effects & Household goods

PREMIUM & EXTENSIONS

The basic premium is calculated based on a standard fire tariff rate prescribed by Persatuan Insurans Am Malaysia (PIAM) and is affected by the class of construction of the building, trade carried out at the premise and sum insured.

At an additional premium, the basic policy can be extended to cover loss of or damage to caused by and not limited to the following:

• Riot, strike and malicious damage;
• Explosion of boilers and pressure vessels;
• Impact damage by own vehicles and third party vehicles;
• Aircraft Damage;
• Bursting and / or overflowing of water tanks apparatus and pipes (excluding sprinkler system);
• Bush / Lalang Fire;
• Spontaneous combustion
• Storm and Tempest;
• Flood;
• Earthquake and volcanic eruption;
• Damage by falling trees or branches and object there from;
• Sprinkler leakage