Property insurance
Property insurance provides protection for physical assets such as buildings and their contents, equipment, and inventory.
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Mandal Insurance JSC
Practical Insurance LLC
Insurance item
- Property (building, equipment, inventory etc..) purchased by bank loan is from 10 million MNT to 4 billion MNT
Insurance coverage
- Natural disasters
- Fire and explosion
- Electricity risk
- Outstanding loan amount – 0.11% – 0.95%
The insurer shall pay the insurance indemnity to the insured based on the following documents. These include:
- Insurance policy
- Insured’s claim application
- An official letter for claim /for legal entities only/
- Statement for the loss by related authorities depending on the accident situation / National Emergency Management Agency, General Agency for Specialized Investigation, Housing and Public Utilities Authority of the Ulaanbaatar City, National Apartment Association, Police, National Agency for Meteorology and Environment Monitoring of Mongolia etc/
- Photos, video footages and other evidences
- Loss estimation report by authorized loss adjusting company which is accredited by Financial Regulatory Commission
- Other related documents if it is necessary /loan contract, mortgage note etc/
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