some of the major insurance services include:
FIRE AND PERILS
Cover loss or damage to buildings, contents i.e. stocks, machinery and equipment, furniture, fixture, fittings, appliances, etc., caused by fire, lighting, flood, and other named-perils.
BURGLARY AND HOUSEBREAKING
Cover loss or damage arising from forcible and felonious entry to premises and physical dispossession of property.
LOSS OF PROFITS (CONSEQUENTIAL LOSS)
Provides cover in respect of the reduction in gross profit arising from the interruption of business following a fire or insured peril. Can also be designed to cover increased cost of working and/or standing charges only arising out of insured peril.
ALL RISKS INSURANCE
(PERSONAL EFFECTS AND VALUABLES)
Provides indemnity for loss of personal effects and valuables caused by accidents and perils whilst in the premises and/or travel away from premises up to 30 days.
Cover cargo transported by Land, Air and Sea. Additional covers such as War, Strikes, Riots and Civil commotions clauses can also be arranged.
A special facility to insure all types of ships (including Motor Boats or other Craft used for private and pleasure purposes, YACHTS, FISHING BOATS/TRAILERS and COMMERCIAL VESSELS) to cover HULL, MACHINERY, MACHINERY BREAK-DOWN, CONSEQUENTIAL LOSS, P&l COVERS ETC.
Three (3) types of cover are available:
A. Comprehensive Motor insurance
covering accidental loss or damage to
the vehicle caused by collision or
overturning, fire, theft, and
malicious damage. Third Party
Liability and Driver and Passenger
Accident/Liability cover can be and
normally purchased along with this
basic vehicle loss and damage
B. Third Party plus Fire and Theft.
C. Third Party Liability insurance only.
WORKMEN’S COMPENSATION AND EMPLOYER’S LIABILITY
A cover affording indemnity in accordance with the labor law benefits to insured’s employees sustaining work-related injuries. Also can be extended to cover the legal liability of the Employer on such work related injury as per court verdicts.
This is specially recommended for private Villas and covers, in one document, broad named perils such as Fire and lightning, Explosion, Strike. Riots and Civil commotion. Falling Aircraft or articles dropped there from, vehicle impact. burst pipe. flood, storm, typhoon. etc. Also extends to cover the cost of temporary relocation, such as rental expenses, servant’s effects, etc.
COMPUTER / ELECTRONIC DATA PROCESSING
An all risks protection for computer and electronic data processing equipment as well as media. It can also be extended to cover increased cost of working data reproduction and extra expense.
Cover the Equipment or Machinery whilst at rest, in motion or in the process of being dismantled and/or re-erected against loss or damage resulting from Explosion or Breakdown.
CONTRACTORS’ ALL RISKS/ERECTION ALL RISKS
An all risks cover for the contract works, materials brought on to the site, temporary facilities, plant, machinery and equipment for their full value. Also it covers liability in respect of property damage and/or bodily injury to third party arising out of the contract operations.
A Policy designed to insure frequent travelers for loss of baggage, trip interruption, medical expenses due to accidents etc.
Insures breakage of all external and internal glass (except for light fittings, signs, vending machines or stock in trade) in the business portion of the premises.
Cover designed to protect professionals such as Architects, Lawyers, Doctors and Accountants against legal liability arising out of their unforeseen errors and omissions and/or negligence.
MACHINERY, PLANT AND EQUIPMENT ALL RISKS
Provides indemnity against accidental physical loss or damage to Machinery and Equipment. Can be extended as well to cover legal liability to third party arising out of the use of the said equipment.
Provides cover in respect of liability whether bodily injury or property damage.
Three major coverage′s fall in this type of cover:
A. LIFE INSURANCE:
pays death benefit up to principal
sum insured following natural and/or
B. PERSONAL ACCIDENT:
pays death and disability benefit
arising from accidental causes.
C. MEDICAL INSURANCE:
pays either in-hospital and/or
out-patient expenses arising from
accident or disease. It can be
extended to cover maternity,
optical, dental and emergency
This provides protection for Loss of Money against fire and perils including theft while in the premises, inside the safe or whilst in transit.
FIDELITY GUARANTEE/EMPLOYEE DISHONESTY
This covers financial losses arising from insured employees dishonesty/fraud.
UMBRELLA AND EXCESS LIABILITY PROGRAMS
A sophisticated cover designed to insure excess liability exposure
i.e. those over and above the primary liability policy normally called “underlying covers” it also provides a basic difference in condition cover where the primary insurance is unable to pay but only in respect of the “excess layer”.