Oriental insurance for Tata Power Project

Oriental Insurance Company Ltd will be offering all-inclusive project insurance for a Tata Power Project in Mundra, Gujarat.

The insurance plan covers the equipment from the time the shipment or equipment leaving the warehouse whether in India or any other part of the world.

It covers equipment even in the transit period to the point when it reaches the site, extending up to the extension, erection or the final commissioning of the plant.

The set-up is covered against any risk cropping up due to various site activities or natural calamities, third-party liability and storage issues.

Professionals will be employed at the project site to examine the advancement of the project on a continuous basis. This is expected to minimize the losses on the site and for appraising claims arising on account of Advance Loss of Profits.

The preliminary work has already started on the project and is expected to be fully commissioned by 2012.