The Compact Policy is specially tailored for multiple risks cover under one policy to the benefit of specific industry i.e. Office/Hotel/Shops.
Fire, burglary, flood, earthquake for the building and contents, sudden breakdown of machinery or damage to the Electronic Equipment in office, Workmen compensation, Public and Professional liability, Money-in-Transit, Fidelity Guarantee etc are all covered by this policy, with only one exception of that of boundary wall. Additional premium needs to be paid for that if required.
Out of all risks covered under this policy, only fire and burglary ones are compulsory whereas others are optional. One can choose the limits of Sum Insured for each section of coverage offered depending on the insurance needs of the enterprise. It could also include employer’s benefit policies such as Group Personal Accident and Group Health Insurance etc, all under a Comprehensive package insurance policy.
If more than 4 risks are covered at one time, then insured is entitled for a discounted premium.