Deterioration of Stock

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 which are destroyed due to unforeseen and sudden breakdown of refrigerating machinery.

This policy covers the risk of loss or damage to the perishable stock by deterioration or putrefaction due to the following reasons:

  • Rise or fall in temperature resulting from breakdown of refrigeration plant and equipment at the premises.
  • Damage to the said plant and equipment by an incidental extraneous cause subject to the perils excluded.

The premium rate is influenced by factors such as value of stock in cold storage, age and condition of refrigerating machinery, location and construction of building, nature and type of risk, industry experience, and previous loss history etc.


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