Deterioration of Stocks Insurance
Covers damage to perishable goods in cold storage in case of refrigeration breakdown.
The mechanical damage or failure of electrical supply under certain conditions can cause the rise or fall in temperature, allow unforeseen escape of refrigerant gas or result in incorrect storage temperature in controlled environment. In such an event, we can cover the resulting deterioration of stock.
The Deterioration of Stock insurance is designed as a cover against deterioration of stock in cold storage due to a breakdown of the refrigerating plant / machinery as a result of any material damage to the refrigerant plant which is indemnifiable under the Machinery Breakdown Insurance.
Where applicable and subject to underwriting, the policy can be extended to cover deterioration to the stock due to failure of public or non-public power supply.
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The benefit(s) payable under this product is (are) protected by PIDM up to limits. For more information, please refer to PIDM's Takaful and Insurance Benefits Protection System brochure on Zurich General Insurance Malaysia's website or PIDM's website.