International Health Plan
October 24, 20181
Industrial All Risks
This is the broadest form of Asset insurance available which goes beyond the standard Fire & Perils policy structure to include theft and accidental damage. In summary, the cover is designed to protect against all losses other than what is specifically excluded under the policy.
The cover is typically subject to higher than normal deductible levels given the broad scope of the wording. Cover can be extended to include Electrical and Mechanical Breakdown of machinery if required.
Business Interruption
This policy provides cover against loss of revenue and / or profits as a result of an insurable loss or damage to property insured. The affected results of the business are insured for an agreed duration of time, otherwise known as Indemnity Period.
Extra expenses incurred to maintain turnover over an agreed duration of time can also be insured.
Fire & Allied Perils
A Fire policy (basic cover) will provide cover for loss, damage or destruction to insured property by Fire and certain Specified Perils including Lightning or Explosion.
Also covers fire damage following perils of nature such as earthquake, floods, storm, tempest and lightening to name but a few, also covered are social perils including riot, strike civil commotion and malicious damage.
Burglary
To indemnify the Insured against loss, damage or destruction arising following entry or exit from the premises, hold up or raid, whether entry is obtained forcibly or otherwise.
Machinery Breakdown
Covers loss resulting from the sudden and accidental breakdown of machinery and / or equipment.
Consequential Loss
This policy provides Compensation for loss of revenue and/or increased cost of working incurred to avoid or diminish loss of revenue occasioned by loss of or damage to the items insured under the Machinery Breakdown Policy.
Contractors All Risks
An “ALL RISKS” cover available to contractors that will offer protection destruction or damage to;
i) the contract works
ii) contractor’s plant & machinery at the site
iii) materials on site
Scope of cover will include fire, burglary, floods, earthquake and unforeseen and accidental damage to the property insured. A limited amount will also be available for removal of any debris from a site after such damage/destruction.
Erection All Risks
Contractor's All Risk (CAR) Insurance offers comprehensive protection against loss or damage in respect of contract works, construction plant and equipment and/or construction machinery, as well as for Third Party claims in respect of property damage or bodily injury arising in connection with the execution of a construction project.
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Professional Indemnity
This provides protection against legal liability arising out of breach of professional duty owed to a client / customer i.e. professional negligence matters. Cover includes defense costs, fees and expenses. Typical professions covered are Accountants, Lawyers, Medical Practitioners, Insurance Brokers, Surveyors, Architects etc. though the list of professionals has increased greatly over the years.
Deterioration of Stock
This type of insurance provides protection against the cost of sudden, accidental and unforeseen damage to goods as a result of the rise or fall in temperature within a cold room environment due to the failure of equipment. This is a form of engineering insurance.
Product Contamination
If your product might be accidentally or maliciously contaminated—for instance food, cosmetics or pharmaceuticals—you may also want to consider contamination coverage along with product liability and recall insurance.
Plate Glass
Covers the cost of making good accidental breakage of insured glass by any reason whatsoever, except those that are specifically excluded. It also provides protection for loss or damage to ornamental, embossed, lettered or stained plate or sheet glass.
Terrorism & Sabotage
The policy covers physical loss or damage to assets as well as accompanying business interruption insured caused by the following perils:
- Act of terrorism
- Sabotage
- Riots, strikes and/or civil commotion
- Malicious damage
- Mutiny and/or coup deter
- War and/or civil war
Aircraft Insurance
Provides cover for aircraft hull and liability for loss, damage, injury, or death arising out of the operation of aircrafts.
Marine Hull
The policy provides cover for loss or damage to the hull and / or vessel (boat, ship, liner) whilst in service, commission or laid up. Cover will also be extended to include legal liabilities to third parties, legal costs and salvage charges.
Motor Insurance
Indemnify against loss of (Accident/Theft/Fire) or damage to motor vehicle or accessories and legal liabilities to third parties arising out of use of motor vehicle. The law in most countries requires that as a minimum, Third Party Liability cover must be purchased.
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Marine Cargo
This provides insurance cover to owners of cargo or persons with interest in the cargo whilst in shipping by air or sea against the perils of the voyage. Various levels of coverage are offered with the broadest form being All Risks.
Bonds
This is a form of financial guarantee that compensates the third party in respect of loss suffered as a result of the failure of the insured to perform a task described in the bond contract. Upon providing such a bond as requested, the insurer acts as the guarantor, and is bound to pay a defined amount of money should the insured person fail to meet the terms and conditions of the bond contract.
We offer the following types of bonds insurance:
- Custom Bonds
For various goods in transit or temporarily through the country or those produced in duty free zones targeting the export markets. - Performance Bonds
Surety to ensure that the business does not suffer unnecessary setback should the contractor be unable to commit to the completion of contracted work. - Tender Bonds
Protects your interests in the course of a tender situation and provides comfort to the tendering parties against withdrawal. - Immigration Bonds
For foreigners as required by the governments immigration authorities. - Exclusions
Note that it is not the intention of bonds or any other form of insurance to provide compensation against the effects of any illegal or criminal activity.
Goods in Transit
To indemnify the Insured for loss or damage to goods owned by them or held in trust or for which they are responsible, whilst in transit to or from the premises anywhere within the geographical area, from causes not specifically excluded under the policy.
Fidelity Guarantee
Indemnify the Insured (the employer) for the loss of money and / or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment.
Money Insurance
Money Insurance
The Money policy covers loss of cash typically against the following situations:
- Loss of money at your premises during business hours, or in specified safes or strong rooms.
- Loss of money in transit.
- Loss of money in the custody of an authorized employee.
- Loss of, or damage to safes or strong rooms insured in the process of a theft or an attempt thereat.
Directors' & Officers' Liability
Directors’ and Officers’ Liability cover protects directors and officers against any claims for wrongful acts as defined within the policy document in their personal capacity as office bearers.
Directors’ and officers’’ coverage protects your executives from potential lawsuits resulting from key decisions or management practices.
Public Liability
This insurance covers all sums that the insured shall become legally liable to pay as a result of accidental death/bodily injury, disease and property damage to third parties arising out of any defects in the products manufactured and covered under the policy. Note that the products must have passed out of the control or actual physical custody of the insured.
Products Liability
This insurance covers all sums that the insured shall become legally liable to pay as a result of accidental death/bodily injury, disease and property damage to third parties arising out of any defects in the products sold, serviced, manufactured or supplied and covered under the policy. Note that the products must have passed out of the control or actual physical custody of the insured.
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Domestic Package
This is a package cover designed especially for domestic residences. It includes provision for buildings, contents, personal effects, legal liability and statutory workers compensation cover all under one policy.
Group Personal Accident
Death and accidental bodily injury sustained by the insured persons resulting solely and independently of any cause except as excluded under this policy occurring during the period of insurance including occupational disease/illness. This is indemnity based and typically, an employer provide benefit to employees.
Work Injury Benefit
This is compensation as required under statute to employees for work related injuries and diseases contracted in the course of duty during their employment.
Employers' Liability
Employers are responsible for the health and safety of their employees while they are at work. Your employees may also become ill as a result of their work while in your employment (occupational illness or disease). This will expose you to lawsuits as they may require compensation.
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken and this insurance cover is designed to respond to resulting common law actions.
Group Life
Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group.
Medical Insurance
Corporate medical covers enable your company employees to access superior in-patient and out-patient healthcare services through various accredited healthcare service providers. This cover is now fast becoming a very desirable employee benefit.
Travel Insurance
Protects the insured for emergency medical expenses, death, disability, injury, cancellation or curtailment of travel, credit cards, travel documents, personal liability abroad and baggage loss as per limits set out on the policy.
