Continuity of Insurance Policies

Continuity of Insurance Policies

 

We would like to bring to the attention of policyholders that the Standard Fire and Special Perils Policy(commonly known as property policy)has the following condition:

 

“Under any of the following circumstances the insurance ceases to attach as regards the property affected unless the Insured, before the occurrence of any loss or damage, obtains the sanction of the Company signified by endorsement upon the  policy by or on behalf of the Company :- 

b) If the building insured or containing the insured property becomes unoccupied and so remains for a period of more than 30 days (Not applicable for Dwellings).”

  1. We are all going through an unprecedented situation of lockdown to battle the deadly Corona Virus.
  2. We do understand that in the current crisis it might not have been possible for some policyholders to send communication to insurance companies for continuation of coverage and obtain endorsements.
  3. Therefore it has been decided that a one-time relaxation is given to all policyholders whose property is unoccupied on or after 25/03/2020 till 03/05/2020. Properties of such policyholders shall be deemed to be covered subject to the policy being in force. All other terms and conditions of the policy remain unaltered.
  4. Policyholders are requested to contact their respective Insurance Company in case of any doubt / difficulty.

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