- Office Comprehensive Policy
The Office Comprehensive Policy is a unique policy designed to cover any conceivable risk in an office environment.
The policy is targeted at Professionals, and it provides protection against loss or damage to office contents caused by fire and allied perils, burglary and breakage of glass on table tops and mirrors. The Policy also covers the liability of the Policyholder as a tenant.
Reasonable Out-of-Pocket Expenses incurred is also payable under the policy.
The Policy extends to cover office contents that are removed from the office building and temporarily transferred to any private residence, hotel or bank for safe deposit, cleaning, renovation or repair.
- Marine Insurance
- Marine Cargo Insurance
This Policy insures imports and exports against all risks or against selected perils encountered during the transit by Sea or by Air. The nature of the consignment determines which cargo insurance is suggested to the prospect.
- Marine Hull Insurance
Under this policy, the Hull and Machinery of vessels are insured against total loss or for partial loss where repairs of Hull and Machinery are paid for.
- Stevedore and Shore handling
This policy covers the legal liability of the Assured for loss/damage to property or loss of life or personal injury incurred during their operations. The insurance also indemnifies the Assured against any law costs and expenses of defence.
- Plant and Equipment
This Policy covers the Plant and Machinery of the Stevedore and Shore handling Company against all risks of physical loss or damage.
- Marine Cargo Insurance
- Public Liability Policy
The Policy compensates the Policyholder for liability at law to pay compensation to a Third Party for bodily injury, and or property damage. It also pays for law costs and expenses recovered against the insured by any successful claimant.
- Product Liability Policy
Manufacturers of food, drinks and drugs have a duty to provide patrons with wholesome products. However, there is the risk that an unwholesome product may come out of the production line. The potential liability here is high and without insurance funds to pay, these claims would put undue strain on the manufacturer’s funds.
- Professional Indemnity Policy
Professionals – physicians, accountants, beauticians and other skilled tradespersons – can be held liable for failure to exercise reasonable care, or failure to provide an agreed upon service.
Any detriment or loss the client sustains is recoverable from the professional indemnity cover, which would take over those demands, rather than pay from his/her own resources.
- Contractor’s All Risks and Erection All Risks Policy
Contract works for roads, bridges, installation of plant and machinery are insured under a CAR or EAR Policy. By this Policy, damage by fire, storm, windstorm etc. to the construction works is made good by the insurance proceeds. Losses occurring during the maintenance periods are also covered until the project is handed over to the principals.
The EAR policy offers comprehensive and adequate protection against all the risks involved in the erection of machinery, plant and steel structures of any kind, as well as third-party claims in respect of property damage or bodily injury arising in connection with the execution of an erection project.
The insured under an EAR policy is normally:
- The manufacturer or supplier of machinery or plant if he carries out the erection work or is responsible for it, or
- The firm commissioned with erection work, or
- The purchaser of the machinery or plant to be erected
Under the EAR policy every hazard is covered which is not specifically excluded. This means that almost any unforeseen and sudden physical loss or damage occurring to the property insured on the erection site during the period of insurance will be indemnified.
The cover commences directly after the unloading of the items to be insured at the site and continues until the erection work and testing operations have been completed.
- Contractors’ Plant and Machinery (CPM)
CPM insurance policy covers all “Plant or Machinery” which render service only when moving and under the control of an operator. This is an insurance of contractors’ plant and machinery on an annual basis. The cover, which is similar to the scope of Machinery Breakdown (MB) insurance but excluding internal break-down, applies at work, at rest or during maintenance operations and is not limited to a specific construction site.
Third party liability cannot be covered under contractors’ plant and machinery insurance. A separate liability policy must be concluded.
- Machinery Breakdown
It was developed to grant industry effective insurance cover for plant, machinery and mechanical equipment at work, at rest or during maintenance operations and it is an annual policy.
All types of machinery, plant, mechanical equipment and apparatus may be covered under machinery insurance.
Items having a short service life compared with the entire plant are normally excluded from machinery insurance, these are mainly:
- All types of interchangeable tools
- Belts, chains, ropes, sieves, engraved cylinders, stamps, dies
- Parts made of glass, ceramic or wood, rubber tires
- Operating media of any kind such as fuel, gas, refrigerants, catalysts, liquids, lubricants (oil in transformers and circuit breakers is, however, included since it is not only a coolant but also serves as an insulation agent)
The policy covers any unforeseen and sudden physical loss or damage from any cause such as defects in casting and material, faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, shortage of water in boilers, physical explosion, tearing apart on account of centrifugal force, short- circuit, storm, or from any other cause not specifically excluded in a manner necessitating repair or replacement.
- Electronic Equipment (EEI)
This policy covers electrical and electronic systems. Under the EEI policy every hazard is covered which is not specifically excluded. This means that almost any sudden and unforeseen losses which physically affect the subject matter insured are covered.
This Insurance applies whether the Insured items are at work or at rest or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises or in the course of the aforesaid operations themselves, or in the course of subsequent re-erection, but in any case, only after successful commissioning.
This policy provides cover against loss or damage caused by an insured peril while the goods or part thereof are being loaded upon, carried by or unloaded from any insured vehicle anywhere within the specified geographical area.
- Fidelity Guarantee Policy
This policy indemnifies employers against direct financial loss resulting from acts of dishonesty of employees. The cover is recommended to be taken on behalf of Cashiers, Bank Clerks, Salespersons, Accountants, etc.
- Money Insurance Policy
Money-In-Transit, in a safe, on the premises and or in the residence of employees can be insured under the Money Insurance Policy against loss or damage.
- Workmen’s Compensation Policy
Employers have a legal liability towards employees for injury sustained during the course of their employment as defined under the Workmen’s Compensation Act.
The Workmen’s compensation Policy enables the employer to reduce the uncertain amounts he may be called upon to pay as compensation to the certainty of the insurance premium
- Bid Bond
- Performance Bond
- Advance Payment Guarantee
- Customs Bond
The company will also sell such specialist insurances as Machinery Insurance, Electronic Equipment, Glass Insurance and Deterioration of Stock in cold storage. There will be no risk too large or too complex to provide insurance cover for.