It covers damages from fire and natural disasters (such as earthquake, storm, thunder, flood, etc.)
In case of a commercial building or a factory, the insurance for Industrial All Risks – IAR can be arranged, which will add more coverage to damages from accidents and electrical utilities/machinery (e.g. elevators, production machines, computers, etc.) with electrical shock or electrical/machinery breakdown.
However, the damages to properties may cause the business operation to cease the production during the repair process, resulting in no income generation during the time. We can solve this problem with Business Interruption Insurance – BI, which covers the gross profit, including the fixed costs, that cannot be met during the time.