ABOUT US
Profile
Vision & Mission
Objectives
Board of Directors
Management
Branches
Call Us
PRODUCTS & SERVICES
Products
Aviation Insurance
Engineering Insurance
Contractors’ All risks Insurance
Erection all risks insurance
Machinery Breakdown Insurance
Boiler and Pressure Vessel Insurance
Contractors’ plant and machinery insurance
Electronic equipment Insurance
Comprehensive machinery insurance
Deterioration of stock insurance
Machinery loss of profits
Principal’s advance loss of profits
Energy Insurance
General Insurance
Personal Accidents
Liability
Public Liability
Workmen Compensation
Fidelity Guarantee
Money Insurance
Contingency Insurance
Banker’s blanket
Marine Insurance
Marine Cargo
Marine Hull
Health Insurance
Motor Insurance
Comprehensive Motor Insurance
Property Insurance
Fire & Allied Perils Insurance
Burglary Cover
Property All Risks (PAR)
Business Interruption
Business Guard
Home Guard
Travel Insurance
Services
Customer Service
Quotations
Claims
FAQ
REINSURANCE
MEDIA CENTER
Marketing Campaigns & Adverts
Adverts
Marketing Campaigns
Greetings
News & Events
Photo Gallery
Training
English Courses
Team Building
Presentation Skills
TV Commercials
Interviews
Awards
Videos
INVESTOR RELATIONS
General Assembly
Financial Information
Our Products
Aviation Insurance
Engineering Insurance
Energy Insurance
General Insurance
Marine Insurance
Health Insurance
Motor Insurance
Property Insurance
Travel Insurance
Home
»
PRODUCTS & SERVICES
»
Products
»
Engineering Insurance
»
Deterioration of stock insurance
Deterioration of stock insurance
The insurance of “deterioration of stock in cold storage” is designed to meet the requirements of those who want to insure themselves against deterioration of goods in cold storage due to a breakdown of refrigerating machinery. DOS is a complementary cover to machinery insurance and may only be provided in connection with the Comprehensive Machinery Insurance (CMI).
There are basically two different methods of preservation: cold storage under freezing conditions and cold storage under cooling conditions.
In the case of cold storage under cooling conditions, a distinction must be made between two types of cold storage: storage in a normal atmosphere and storage in a controlled atmosphere (CA storage). The storage atmosphere in CA storage rooms is different to that of normal atmospheric air and contains approximately 22% carbon dioxide, 4% oxygen and 74% nitrogen.
The insurance of stock in cold storage is important, for example, for
owners of cold-storage houses,
users (tenants) of cold-storage houses,
firms in which agricultural products are manufactured or processed,
meat and fish processing industries,
food preservation industry,
chemical and pharmaceutical industries (finished and semi-finished products).
Causes of an indemnifiable claim for deterioration of stock may be
a rise or fall in cooling temperature,
the unforeseen and sudden escape of refrigerants into the cold-storage rooms,
in the case of CA storage, an incorrect composition of the storage atmosphere directly resulting from any material damage to the refrigeration plant, which is indemnifiable under machinery insurance.
It is possible to extend the deterioration of stock cover to include deterioration due to the failure of the public power supply, provided the position regarding public and back-up power supplies is found to be satisfactory.
© . All rights reserved.