Corporate Insurance

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Fidelity Guarantee

It covers loss of money or property of the insured or for which they are responsible as a result of acts of fraud or dishonestly by an employee.

Burglary

It covers loss or damage by theft or property belonging to the Insured or for which he is responsible.

Money

It covers loss of money whilst in transit and whilst kept in locked drawer, safe or strong room or by hold-up whilst on the business premises.

Motor

It covers motor vehicles against loss or damage caused by accidents and also legal liability to third party for bodily injury or property damage. Vehicles covered: Private Car Commercial Vehicle Motorcycle

Marine

It is to protect traders against losses at sea through maritime perils such as sinking, grounding, stranding, collision at sea or heavy weather.

Public Liability

Scope of cover • Accidental bodily injury to any person not being a member of the insured’s household or any person in the services of the insured. • Accidental damage to property not belonging to or in the custody or control of the insured. • Any legal expenses incurred by the insured in depending legal proceedings with the Company’s written consent happening during the Period if Insurance and caused in the course of the business within the territorial limit

Foreign Workers Compensation

It is mandatory for every employer to insure all the legal foreign workers employed by him under Foreign Workers Compensation Scheme in respect of any liability he may incur under the Workmen’s Compensation Act 1952.

Workmen Compensation

The Workmen’s Compensation Insurance is designed to cover the workers for accidental bodily injury and /or disease sustained whilst in the course of employment. The local workers may have common law rights against the employers and hence, Employer’s Liability insurance is to provide indemnity to the insured for this contingency.

Machinery Breakdown

It covers sudden and unforeseen damage occurring whilst the machinery is working or at rest, being dismantled, moved or re-erected for the purpose of cleaning, inspection, repair or installation in another position.

Consequential Loss

The fire material damage only provides indemnity to the insured in respect of loss of or damage to the tangible assets. Any loss from a fire or a major natural catastrophe such as earthquake, storm or flood could bring about serious disruption to the business activities of the insured in terms of loss or production, sales and consequently the earnings. It pays for the residual nett profit and fixed charges resulting from interruption of business following loss or damage by fire and the insured perils.

Fire