This insurance provides for indemnity against physical loss or damage to stocks such as frozen meat, foods, and other chilled and frozen items of trade of the insured which are destroyed due to unforeseen and sudden breakdown of refrigerating machinery.
AWNIC’s Deterioration of Stock Insurance is designed to provide coverage against damage or loss from deterioration of stocks in a controlled temperature of the cold storage due to breakdown of refrigerating machinery including rise or fall in temperature and escape of refrigerants.
In order to have a full understanding of the nature and scope of coverage under the policy, we recommend customers and prospects to study the conditions, exclusions and definitions stated in the policy or contact our technical staff in Engineering Insurance Department.
Premium rate is influenced by factors such as value of stock in cold storage, age and condition of refrigerating machinery, location & construction of building and nature & type of risk, industry experience , previous loss history etc.,
For further details, please call us on our telephone or ask for a call back.