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Fire and Named Perils Insurance

Insurance against fire is the main type of property insurance.

The cover for fire insurance is the property interest of the policyholder (beneficiary) associated with the possession, use and disposal of property in case of damage or destruction as a result of fire and named perils.

Under a fire and named perils insurance, the Insurer pays for damage caused by fire, lightning strike, explosion, fall of a manned aircraft. Fire, Lightning, Explosion, Aircraft Impact (FLEXA) is a main covered risk on this type of insurance.