Brief Description
This Burglary policy provides insurance protection against incidents of theft to your property.
What It Covers ?
This policy covers loss or damage to the property insured whilst contained in the specified business or trade premises arising from:
- Theft consequent upon actual, forcible and violent entry into the premises
- Theft or any attempt thereat by a person feloniously concealed on the said premises
- Resulting of armed robbery
- Resulting in damage to the property insured and premises due to such Theft or any attempt thereat.
Premises mentioned shall not include any yard, garden, outbuilding, or other appurtenances unless specifically included in the schedule.
You can either insure your property on Full Value or First Loss basis:
- Full Value Basic This basis is adopted when there exists a possibility of your entire property insured being stolen at any one time. You must ensure adequacy of the sum insured since the insurance will be subject to the Average Clause and you will not be fully indemnified at the time of loss if the property is under insured. The correct sum insured should be what you consider to be the highest value at risk at any one time.
- First Loss Basis This basis is adopted when is it not possible for your entire property insured to be stolen at the same time. The sum insured shall be based on your assessment.
The following additional perils can be covered on payment of an additional premium:
This policy does not cover certain losses such as:
- The amount of the excess as specified in the policy document
- Gold or silver articles, precious metals and any other articles which are made of precious metals, medals, coins, sculptures, rare books of any kind
- Loss or damage caused by wear and tear or gradual deterioration
- Loss or damage caused by the sack, loot, pilferage, etc.
- Unexplained losses or damages due to errors, omissions
- Theft or attempted theft from open spaces, garden, yards, etc.; unless the contents thereof are specifically mentioned in the policy document
- Loss or damage directly or indirectly caused by or arising from any corruption, destruction, or distortion
- Goods held in trust, cash, jewellery, title deeds, business books, unless they are specifically insured
- Loss, damage, or expense of whatsoever nature directly or indirectly by any act of terrorism or war
- Loss or damage caused to insured property due to breach of trust or misfeasance by the insured
- Loss of money from safe following the use of the key unless such key has been obtained by violence
- Any loss or damage directly or indirectly happens to the premises from the nuclear weapon material
- Any loss or damage to glass, plate, or any decoration thereon
- Consequential loss or damage or legal liability of any type
- Loss or damage caused by loot, sack, spillage, or pilferage
Note: This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy
Duration of cover is for one year. You need to renew your insurance policy annually.
You can either insure your property on Full Value or First Loss basis:
- FULL VALUE BASIS This basis is adopted when there exists a possibility of your entire property insured being stolen at any one time. You must ensure adequacy of the sum insured since the insurance will be subject to the Average Clause and you will not be fully indemnified at the time of loss if the property is under insured. The correct sum insured should be what you consider to be the highest value at risk at any one time.
- FIRST LOSS BASIS This basis is adopted when is it not possible for your entire property insured to be stolen at the same time. The sum insured shall be based on your assessment.
Burglary policy provides financial support in case there is any loss/damage caused to your insured property. If you buy burglary insurance for your business premises, it covers the damage(s) caused to goods, furniture, and property within the premise of your business.
You may cancel your policy by giving written notice to the insurer. Upon cancellation, you are entitled to a refund of the premium less premium based on our short period rates for the period of the policy which has been in force.
Professional Indemnity Insurance
Brief Description
Professional Liability insurance protects professionals against claims initiated by their clients and resulting from the practice of their profession. It is required by professionals who have expertise in a specific area, and offers protection against claims arising out of business or professional practices such as negligence, malpractice, misrepresentation, errors or omission.
What It Covers ?
The policy covers the monetary amounts, including defense costs, that you are liable to pay to a third party following an action brought against you for any
- Negligent Act
- Negligent Error
- Negligent Omission
- Negligent Breach of Trust
- Negligent Breach of Professional Duty
- Negligent Misrepresentation
- Loss of documents
- Libel, Slander, Defamation
- Unfair competition
- Unintentional Breach of confidentiality
- Unintentional Breach of copyright or patent infringement
- Misstatement or misrepresentation
- Employers Practice Liability
- Dishonesty of employees
- Any Circumstances you know of at inception
- Any Wrongful Act, Error or Omission that took place prior to the Retroactive Date
- Any Dishonest, fraudulent or malicious acts
- Contractual Liability unless attached in the absence of the contract
- Liability for bodily injury or property damage
- Fines, Penalties, Punitive or Exemplary Damages
- Liability to shareholders
- Liability for financial risks (i.e. Depreciation in investments)
- Liability in respect of pollution
- War, sabotage and terrorism
Normally issued on annual basis.
The sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively. The ratio of AOA limit to AOY limit can be chosen from the following: 1:1,1:2,1:3,1:4
- Indemnified in the event of a claim
- No Impact on company’s balance sheet
- Demonstrate clients that their interest has been considered
- Protect damage to your company’s reputation
Premium rates are based on:
- Type of profession
- Annual turnover
- Territory involved
- Policy limit of liability
- Policy deductibles
- Your professional experience
- Extensions opted for
Workmen's Compensation & Employers Liability
Brief Description
Worker’s compensation covers any occupational sickness or accidents arising during the course of employment, including medical expenses and loss of wages for either bodily injury or the death of an employee as per relevant Labor Laws. Employer’s liability pays additional compensation over and above the workers compensation benefits upon a court judgment of negligence on the part of the employee.
The policy can be taken out in the joint names of the contractor and the employer. This policy enables the Contractor or Employer
to comply with the insurance requirements of the Contract
What It Covers ?
Any work-related accident causing:
- Death
- Physical injury
- Disability
- Loss of earning
- Medical expenses towards complete recovery
- Policy indemnifies the employer against all sums payable mentioned above but medical expense is limited to AED 7,500 only.
Expenses for Repatriation: Repatriation expenses for transporting the deceased body following a work accident
Employer's Liability: Civil liability if the work related accident is caused due to the negligence of the employer
Coverage for non-work related accidents
Non work related accidents
War, sabotage and terrorism
The coverage is usually provided for a period of one year.
Annual wages are considered as Sum Insured
Employer’s liability pays additional compensation over and above the workers compensation benefits upon a court judgment of negligence on the part of the employer.
Premium rates are based on:
- Estimated annual wages of the employees
- Nature of work of the employees
- Estimated number of the employees
- Extensions requested.
- Territorial area covered
Public (Third Party) liability Insurance
Brief Description
This policy covers the amount which the insured becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury, loss or damage to the property belonging to a third party. The legal cost and expenses incurred in defending the case with prior consent of the insurance company are also payable subject to certain terms and conditions. The Public Liability insurance policy is suitable for businesses engaged in premises-based activities such as offices, showrooms, warehouses etc.
What It Covers ?
This policy covers against amounts you are legally liable to pay as:
- Damages to third parties due to a negligent act.
- Compensation for accidental death or bodily injury
- Damage to or loss of property
- Legal costs associated with the above claims
On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely
- Natural calamities like flood, earthquake etc.
- Transportation Risk
- Working away from the business premises
- Sudden and accidental pollution
- Liability for plant and equipment whilst in use as tools of trade
This poliy does not cover certain losses such as
- Use of plant and equipment
- Motor vehicle liability
- Off shore works
- Product liability
- Professional Indemnity
- Directors and Officers Liability
- Pure financial loss
- Employers liability
- Gradual pollution
- War, sabotage and terrorism
The coverage is usually provided for a period of one year.
In public liability policy, the sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively. The ratio of AOA limit to AOY limit can be chosen from the following: a. 1:1 b. 1:2 d. 1:3 d. 1:4 The AOA limit which is the maximum amount payable for each accident should be fixed taking into account the nature of activity of the insured and the maximum number of people who could be affected and maximum property damage that could occur, in the worst possible accident in the insured's premises.
Premium rates are based on:
- Nature and scope of your business
- Liability Limits
- Estimated annual turnover
- Geographical area covered
- Extensions opted for
Brief Description
The Money Insurance covers the loss of your money whilst in transit and whilst in the premise. shall mean and include cash, coin, bank drafts, currency notes, treasury or promissory notes, cheques (signed and blank cheques whether crossed or not), bonds, bills of exchange, postal orders,money orders and current postage stamps held in connection with business (excluding foreign currency, unless specified otherwise in the Schedule).
What It Covers ?
- Money in premises
- Transit of earnings, wages and petty cash
- Direct transit of collections
- Transit of collections with stopover
Foreign currency can be specifically declared and covered under the Policy. In case the money carrying employee is assaulted during burglary or holdup resulting in death /bodily injury / physical separation of a limb or the loss of an eye or causing him to be prevented from engaging in his usual employment, the Company shall pay such employee
This poliy does not cover certain losses such as
- Shortage due to error or omission
- Riot, strike, civil commotion unless specifically agreed for Terrorism
- Unexplained losses and mysterious disappearances
- Loss or damage due to flood, cyclone, earthquake and other convulsions of nature, war and war like operations
- Loss or damage arising out of use of key(s) to safe(s) or strong room unless such keys are obtained by force or threat
- Money entrusted to any person other than the Insured or an authorised employee
- Legal liability, consequential loss, theft from an unsecured vehicle and consequential loss
- Money entrusted to a carrier
- Loss due to any act in which the Insured, his/her family member/lemployee is involved as principal or party except dishonesty of cash carrying employee where specifically covered
- Such dishonest activity of cash carrying employee shall be discovered within 48 hours.
- Money carried under contract of affreightment
The coverage is usually provided for a period of one year.
Sum insured is based on Estimated annual carrying Maximum limit for any one carrying Maximum limit for safe-keeping at any given time.
Premium rates are based on:
- Estimated annual carrying
- Maximum limit for any one carrying
- Maximum limit for safekeeping at any given time.
- Nature of risk
- Location and the security measures in place
Fidelity Guarantee Insurance
Brief Description
Fidelity Guarantee insurance is an insurance policy designed to indemnify the Insured (the employer) for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment.
What It Covers ?
The cover provided includes reimbursement for loss resulting from:
- Dishonesty,fraud,loss of property,loss from loans or trading committed by an employee for improper personal financial gain.
- Theft of property by computer fraud and the theft of funds from the insured’s transfer account at a financial institution are also indemnified. In addition, defence costs, judgments and settlements are accommodated by the terms of the contract.
On request, with additional payment of premium, the policy can be extended to cover various optional extentions namely
- Suppression of facts at the time of taking the policy
- Loss due to non-observance or relaxation of system of checks and precautions.
- Losses discovered after more than 12 months after the termination of the service of employee concerned.
- Inventory losses
- Any loss resulting directly or indirectly from trading in securities
- Consequential losses of any kind
- Legal Liability arising out of the act of the employee
Suminsured can be opted on individual names or positions basis or on blanket unnamed basis.
Automatic cover extension for losses discovered within twelve months after the insured employee ceases to be employed or the termination of the policy, whichever occurs first
Single insurance policy can be issued for several groups of employees for your company
Cover includes temporary employees who are named or included in the classes set out in the schedule
Cover for auditor’s fees incurred in any special audit required to substantiate the amount of any claim available.
The Policy does not pay more than one claim in respect of liability/loss arising out of an individual employee's acts. or the value of the actual cash value of money, bullion, Hundi, stamps, cheques or similar instrument, stocks held on trust on the day upon which the loss is discovered, whichever is lower.
Number of claims resulting from same fraudulent or dishonest act or a series of fraudulent or dishonest and the same originating cause by the same person, source or event shall be deemed to be one claim subject to a single employee sum insured under the Policy.
Jewellers Block Insurance
Brief Description
Jeweller's block insurance is an all risk policy which provides comprehensive coverage tailored to a variety of business needs, from traditional jewellery shops and pawnbrokers to a bureau de change. The coverage protects against loss or damage to an item in the stock of retailers, manufacturers, distributors and pawnbrokers, whilst also covering factors such as theft and burglary in addition to the usual risks covered such as fire. Coverage can also be acquired for when such high value items are in transit, be it from a manufacturer or in the possession of a sales representative and whether it is an individual item or an entire collection.
What It Covers ?
This policy basically covers the stock, merchandise and bank notes used in the conduct of the Assured's Business as well as Trade and Office Furniture,Fixtures,Fittings, Machinery, Plant, Safe, Alarm Systems, Tenants Decoration and all other Improvements and contents of the Assured's property
This is an annual policy and will provide coverage for one year
New Replacement or Reinstatement value of the stock or other items as required under cover is the sum insured that will be covered under the policy
Jeweller's block insurance is extremely important to any retailer, manufacturer or distributor handling high value items such as jewellery or fine art (including gold, diamond) as a single loss can have a dramatic impact upon overall business performance.When in the business of high value goods, whether its jewellery, cash or art a single incident such as a fire or a robbery, can have a devastating effect upon a firm that is not adequately protected. Jeweller's block insurance therefore provides those trading high value goods, with the peace of mind needed to enable their business to operate effectively, safe in the knowledge they are fully protected from any future disaster.
There is a No Claim Bonus available under this policy in the event there has been no loss within a year
Freight Forwarders Liability Insurance
Brief Description
Freight Liability Insurance is an essential safeguard for you if your business is involved in the overseas transportation and warehousing of goods. This includes third party logistics, freight forwarders and full supply chain management companies, and the policy covers their legal liability for loss or damage to goods carried or stored as defined by contract conditions or applicable International Conventions.
What It Covers ?
- Loss or damage to cargo, containers, vessels or vehicles belonging to other party
- Coverage to transport equipment belonging to other party
- Liability against third parties
- Error and Omission
- Errors and Omissions due to any negligent act of policy holder,agent or subcontractor
- Thridparty Legal Liability for the bodily injury or physical loss or damage caused
- Warehouseman's Legal Liability
- Loss or damage to goods which are carried on theirown or leased vehicle,further policy offers coverage of loss or damage arise due to loading and unloading the cargo
- Arising out of any award against or any other person for whose conduct are liable for punitive, exemplary or multiple damages.
- Resulting from insolvency or financial default.
- Arising out of involvement in the operation or management of a ship or aircraft.
- Arising from involvement in dredging operations or the dumping of spoil therefrom.
- Arising out of the operation or use of a dump site, land-fill operation or from the disposing of waste
- Resulting from waiving your rights of recourse against any other party, to the extend that such liability has been enhanced by the waiver, unless agreed to by us in writing.
- Resulting from any deliberate, reckless or wilful conduct by which enhances the likelihood of increasing loss, damage liability or expense beyond that which would otherwise have existed.
- Arising from loss to third party property held in your care, custody and control as a result of accounting errors or unexplained disappearances and/or shortages revealed only after taking inventory or other method of taking stock.
- Loss, liability, damage or expenses caused by or contributed nuclear or radio active weapon
- Terrorism
- War,confiscation and Strikes
This is an annual policy and will provide coverage for one year
The sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively.
Freight insurance can be used to recover the price of sold or bought goods damaged in transit anytime, regardless of the means of transport. Insurance will allow the forwarder, to compensate for the price of goods damaged as part of your road carrier’s business.
It can specifically design and tailor the coverage to suit the specific needs of the specific Freight Forwarder, Road Haulage Operator, and Parcel Carrier.
Haulier's Liability Insurance
Brief Description
It covers damage to cargo caused by fire,explosion or accident to the carrying vehicle, arising out of negligence of the insured and/or servants. The owner of the vehicle ( Insured ) is legally liable for such loss/damage.Hauliers' insurance only covers the hauliers' liability specified in the trade contract, not the actual goods they transport.
What It Covers ?
It provides for the loss and damage to goods in the care, custody and control of the haulier in accordance with standard trading conditions or under International Conventions such as CMR (Convention on the Contract for the International Carriage of Goods by Road) and also under Common Law.
- It Covers :Loss or damage to cargo, containers, vessels or vehicles belonging to other party
- Coverage to transport equipment belonging to other party
- Liability against third parties
- Error and Omission
- Legal costs
- Hauliers' property
- Debris removal
- Containers
- Legal liability for consequential loss
- Drivers' personal effects
- Commercial considerations
- Frozen food
- Trailers
- Inner limits are applied to most goods deemed very attractive to thieves, such as precious stones or metals, bottle spirits, tobacco, computers, nonferrous metals and mobile phones.
- Theft restrictions designate when a haulier is liable for damage or loss of goods due to theft, such as failing to leave a trailer in an enclosed premises overnight.
- Claims conditions specify that the haulier must not make any admission, offer, promise or payment without the insurer's prior consent.
- Loss or damage while someone other than the haulier is driving the haulier's vehicle will not be covered.
- Radiation
- Terrorism
- War
- Riots
The coverage is usually provided for a period of one year.
Depending on exposure, the proposer has to fix two limits of indemnity under the policy:
- Any One Accident (AOA)
- Any One Year (AOY)
It will provide coverage against liability for loss or damage to cargo during transportation and loss or damage to containers, vehicles or transport equipment of third parties.
This policy is indispensable for
Transport operators providing services of forwarding of goods by road
Freight forwarders providing services of delivery of goods by any means of transport
Mail service operators
Road haulage operators
Freight forwarders placing the goods under transit procedure
Personal Accident Insurance
Brief Description
This cover operates 24 hours and on a worldwide basis. It provides for payment of specified capital benefits following accidental death, bodily injury, permanent total disablement, and permanent partial disablement, temporary total and temporary partial disablement caused by an accident.
What It Covers ?
Personal Accident Insurance Policy has 'Accidental Death' as compulsory cover and 'PTD, PPD and TTD as optional covers. Insured may opt for any of the following coverage options:
- Accidental death
- Accidental death + Permanent Total Disability (PTD)
- Accidental death + Permanent Total Disability (PTD) + Permanent Partial Disability (PPD)
- Accidental death + Permanent Total Disability (PTD) + Permanent Partial Disability (PPD) + Temporary Total Disability (TTD)
- Hospital Confinement Allowance
- Ambulance Charges including air ambulance
- Child Education
- Accidental Medical Expenses
- Weekly Compensation
The dispersal or application of pathogenic or poisonous biological or chemical materials; The release of pathogenic or poisonous biological or chemical materials, or Congenital anomalies or any complications or conditions arising there from.
Participation in winter sports, skydiving/parachuting, hand gliding, bungee jumping, scuba diving, ballooning, mountain climbing (where ropes or guides are customarily used), all forms of skiing (including but not limited to snow or water), riding or driving in races or rallies using a motorized vehicle or bicycle, caving or pot-holing, hunting or equestrian activities, skin diving or other underwater activity, rafting or canoeing involving white water rapids, yachting or boating outside coastal waters (2 miles), participation in any Professional Sports, any bodily contact sport or/and any other hazardous or potentially dangerous sport for which You are untrained.
Any loss resulting directly or indirectly, contributed or aggravated or prolonged by childbirth or from pregnancy, Committing breach of law with criminal intent.
Loss caused directly or indirectly, wholly or partly by infections (except pyogenic infections which shall occur through an Accidental cut or wound) or any other kind of Disease.
The coverage is usually provided for a period of one year.
Minimum and Maximum Sum Insured Limit will be there and is based on the Income
A personal accident cover offers coverage to the insured and his family in case of an accident whereby she/he or her/his family members will be able to get the compensation amount in case of injury, death, total or partial disability that takes place because of any accident caused by violent, visible and external means.
The categories of events that are covered under accidental insurance are rail, road and air accident, and injuries because of collision or fall, burn injury, drowning etc.
Premiums are based on the sum insured selected, age, nature of work, salary levels and the optional benefit selected
Brief Description
This office insurance make you comprehensively protected from property damage, workmen compensation, third party liability and medical insurance.
What It Covers ?
- Property All Risks (PAR) - Fire, burglary and accidental damage cover to building (if owned), office equipment and all contents.
- Workmen Compensation. Covers you for your liability under the Workmen's Compensation Act of UAE to pay compensation to employees for bodily injury or death caused due to accidents/occupational diseases arising out of and in course of employment
- Third Party Liability. Your legal liability to pay, including costs and expenses incurred on account of legal liability arising out of accidental bodily injury and/or property damage to third parties happening in your premises caused during the course of your business
Option to choose any section except Property All Risks section which is compulsory
- Loss or damage due to war and nuclear perils
- Loss or damage due to wear and tear and gradual deterioration
- Consequential loss of any kind
- Loss or damage due to actions of any lawfully constituted authority
- Excess amount as mentioned in the policy schedule
- Mysterious disappearances or other unexplained losses
The coverage is usually provided for a period of one year.
Minimum and Maximum Sum Insured Limit will be there and is based on the Income
- Single policy that covers most of the risks
- Provides for legal liabilities to third parties
Premiums are based on the sum insured selected, age, nature of work, salary levels and the optional benefit selected