From 1st April 2021, IRDAI dictated the introduction of the three standard products:-
1. Bharat Griha Raksha. (Dwellings & Housing Society)
2. Bharat Sookshma Udyam Suraksha. (Enterprises where the total value at risk does not exceed ₹ 5 Crore (Rupees Five Crore) across all insurable asset classes at any one location.
3. Bharat Laghu Udyam Suraksha. (Enterprises where the total value at risk does not exceed ₹ 50 Crore (Rupees Fifty Crore) across all insurable asset classes at any one location. (ie. above 5cr up to 50cr).
These products will replace Standard Fire and Special Perils (SFSP) Policy.