1. SCHEDULED PROPERTY FLOATER (SPF)
This insurance that covers Heavy Equipment for construction, agricultural, warehouse, port, office, hospital, manufacturing and industrial other than vehicles licensed for use on public highways against risks of direct physical loss or damage due to external causes such as fire, explosion, accidental collision, overturning consequent upon mechanical breakdown or consequent upon wear and tear. Coverage includes whilst equipment is being operated, during inland transit and storage.
These are various types of properties that can be covered under the policy:
• Heavy mobile equipment (Cranes, Backhoe, Graders, Payloaders, Forklifts, Bulldozers, etc.)
• Portable generators, Compressors
2. FIDELITY GUARANTEE
This insurance that protects the company or entrepreneur and his business from loss of money, stocks, and other properties belonging to the business or under its care, custody and control, resulting from an act of dishonesty of fraud committed by an employee.
Such acts insured against must have been discovered not later than six (6) months after the resignation, dismissal, retirement or death of the defaulting employee, nor later than three (3) months after the termination of this policy as regards such employee, whichever is the earlier.
The policy requires that there must be employer-employee relationship.
3. COMPREHENSIVE GENERAL LIABILITY (CGL) INSURANCE
General Liability Insurance for Premises Operation that indemnifies the company in the event he is held financially and legally liable for bodily injury, including death and property damage to third parties arising from his negligent acts or his employees in connection with the operations of the business. It also pays for costs and expenses of litigation recovered by any claimant against the company or incurred with the consent of the Company in the defense or settlement of any liability claim.
Coverage may also be extended to include Food and Drink Poisoning Liability, Car Park Liability, Valet Parking Liability, Garage Keeper’s Liability, Fire and Explosion Liability, Tenants Liability, Elevator Hazard Liability, Premises Medical Payment, Water Damage Liability, Innkeeper’s Liability.
4. PERSONAL ACCIDENT INSURANCE
This insurance, which will provide monetary compensation brought by death or bodily injury arising from accidental, violent, external and visible means.
The coverages you may choose from are:
• Accidental Death and Total or Partial Disablement
• Unprovoked Murder and Assault
• Medical Reimbursement
• Burial Expense
• Daily Hospital Income
5. MONEY, SECURITIES AND PAYROLL ROBBERY INSURANCE (MSPR)
For business insurance that pays back the company or entrepreneur and his business for actual financial loss caused by robbery, burglary or any attempt by a third party. This insurance solution covers, losses that occur due to robbery within the premises, outside the premises and whilst the money, securities or payroll is in transit from the business premises to the bank and vice versa.
6. ERRORS AND OMMISSION POLICY
This policy is designed to protect insurance and/or reinsurance brokers for claims made against them and reported by them to the Insurer during their period of insurance for the error or omission, or negligence happening on or after retroactive date and arising in connection with their duty as legal representative of Insureds or Reinsured.
7. AVIATION INSURANCE
Aviation insurance is insurance coverage geared specifically to the operation of the aircraft and the risks involved in aviation.
Coverage under the Aviation Insurance Policy:
Section I – Loss of or damage to aircraft
This section protects the insured against accidental loss of or damage to the aircraft including disappearance if the aircraft is unreported for sixty days after the commencement of the flight. In addition, the insurer will pay reasonable emergency expenses necessarily incurred by the Insured for the immediate safety of the aircraft consequent upon damage or forced landing, up to 10% of the amount specified in the policy schedule.
In-flight coverage protects an insured aircraft against damage during all phases of flight and ground operation, including while parked or stored.
Ground risk Hull Insurance not in motion provides coverage for the insured aircraft against damage when it is on the ground and not in motion. This would provide protection for the aircraft for such events as fire, theft, vandalism, flood, mudslide, animal damage, wind or hailstorm, hangar collapse or for uninsured vehicle or aircraft striking the aircraft.
Section II – Legal Liability to third parties (other than passengers)
The Insurer will protect the insured against legal liabilities to pay, as compensatory damages (including costs awarded against the Insured) in respect of bodily injury and accidental damage to property caused by the aircraft or by any person or object falling therefrom.
Section III – Legal Liabilities to Passengers
This section will indemnify the Insured in respect of legal liability to pay as compensatory damages (including costs awarded against the Insured) in respect of: -
• Accidental bodily injury (fatal or otherwise) to passengers whilst entering, on board, or alighting from the aircraft and
• Loss or damage to baggage and personal articles of passengers arising out of any accident to the aircraft