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
The Fire Insurance Policy indemnifies against loss / damage by
1. Fire
2. Lighting
3. Explosion (except damage to boilers)
The policy does not cover:
1. Loss by theft during or after occurrence of fire
2. Loss or damage by fermentation or spontaneous combustion etc
3. Arson / malicious damage
4. Subterranean fire
5. Loss / Damage by order of any public authority
6. Indirect or consequential losses, loss of earnings, loss by delay
2. Loss or damage by fermentation or spontaneous combustion etc
3. Arson / malicious damage
4. Subterranean fire
5. Loss / Damage by order of any public authority
6. Indirect or consequential losses, loss of earnings, loss by delay
Exclusions from the Policy:
1. War, Invasion Civil war
2. Nuclear or radioactive damages
3. Earthquake, Volcanic eruption
2. Nuclear or radioactive damages
3. Earthquake, Volcanic eruption