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. Risk covered:
2. Sum Insured:
As specified in the proposal & policy for each and every item of machinery starting FOB/CIF value, cost of erection, customs/excise duty, octroi, freight, insurance charges, etc.
3. Period of Insurance from 1 month upto completion of project.
4. Optional Covers available on payment of additional Premium:
a. Act of God Perils: Earth quake, subsidence, landslide, rockslide, flood, inundation, storm, etc.
b. Others: Fire, theft burglary, strike riot, civil commotion, Accidental damages.
b. Others: Fire, theft burglary, strike riot, civil commotion, Accidental damages.
2. Sum Insured:
As specified in the proposal & policy for each and every item of machinery starting FOB/CIF value, cost of erection, customs/excise duty, octroi, freight, insurance charges, etc.
3. Period of Insurance from 1 month upto completion of project.
4. Optional Covers available on payment of additional Premium:
a. Third party liability for property damage and personal injury
b. Cost of Debris Removal
c. Maintenance / Extended maintenance cover
d. Escalation
e. Express Freight / Overtime Charges
f. Airfreight charges
g. Additional customs duty
h. Marine transit and local transit on all risks basis
b. Cost of Debris Removal
c. Maintenance / Extended maintenance cover
d. Escalation
e. Express Freight / Overtime Charges
f. Airfreight charges
g. Additional customs duty
h. Marine transit and local transit on all risks basis
Exclusions from the Policy:
War, Civil war, nuclear-related risks, Damages under manufacturer's Guarantee, Losses at the time of talking inventory, consequential losses, Normal wear and tear, cost of rectification of an error during erection unless resulting into a physical loss.