Saudi Indian Company for Co-operative Insurance (SICCI) is a joint stock company established in the Kingdom of Saudi Arabia as per Royal Decree No. M60 dated 18/09/1427H. SICCI is a joint venture between Fawaz Al Hokair Group of Companies, KSA, Life Insurance Corporation of India, The New India Assurance Company Limited, India and Life Insurance Corporation (International) B.S.C.(c), Bahrain
This policy provides cover to the owner of an insured vehicle against legal liability to third parties in respect of accidents caused by or arising out of the use of Insured's Motor Vehicle.
Policy Details
1. Accidental damages / losses to electronic equipments:
a. Electronic data Processing Machine
b. Telecommunication equipment
c. Transmitting and receiving installations
d. Material testing and research equipment
e. Signal and transmitting units
f. Control and supervisory units
b. Telecommunication equipment
c. Transmitting and receiving installations
d. Material testing and research equipment
e. Signal and transmitting units
f. Control and supervisory units
2. Electronic equipment in use for Five (5) years or more can be insured subject to:
a. Pre-acceptance inspection by competent technical personnel
b. Application of higher deductibles and
c. Loading of premium
b. Application of higher deductibles and
c. Loading of premium
3. Scope of cover:
Electronic Equipment insurance is a 'Named-exclusions' Insurance and the range of cover includes standard fire and allied perils, Breakdown, burglary and accidental damage.
Exclusions from the Policy:
1. Deductibles
2. Loss / damage due to earthquake, hurricane, cyclone and typhoon.
3. Loss / damage due to theft
4. Faults / defects existing at the commencement
5. Loss / damage by failure of electricity service supply
6. Loss directly due to continuous influence of operation or gradual deterioration, wear and tear
7. Loss / damage to which suppler / manufacturer is responsible
8. Consequential losses
9. Loss / damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, etc
10. Aesthetic defects.
2. Loss / damage due to earthquake, hurricane, cyclone and typhoon.
3. Loss / damage due to theft
4. Faults / defects existing at the commencement
5. Loss / damage by failure of electricity service supply
6. Loss directly due to continuous influence of operation or gradual deterioration, wear and tear
7. Loss / damage to which suppler / manufacturer is responsible
8. Consequential losses
9. Loss / damage to bulbs, valves, tubes, ribbons, fuses, seals, belts, wires, chains, etc
10. Aesthetic defects.