Property & Commercial

Business involves capital investment and protection of your investment in building, machinery, stock and other contents are important for the healthy, long-term sustenance of your organisation. Our property insurance solutions offer peace of mind by providing appropriate coverage with timely claim assistance in the event of a accident

Our products within this segment include:

• Fire & Allied Perils Insurance – This policy offers basic cover against named perils such as Fire, Lightning, Explosion/Implosion, Aircraft Damage, Impact Damage, Storm, Tempest, Flood, Inundation, Riot, Strike and Civil Commotion etc. This is not an “All Risks” cover and excludes accidental damage arising out of causes other than the named perils
• Property All Risk Insurance – This policy offers wider coverage than a standard Fire policy and your assets are covered under this policy for accidental, physical loss and/or damage
• Business Interruption Insurance – This policy covers loss of revenue or gross profit following accidental damage to your property covered under your Property All Risks insurance policy. This policy should co-exist with your Property All Risk Insurance and cannot be taken on a stand-alone basis. The additional covers offered under this policy include cover for Denial of Access, Customers’/Suppliers’ Premises, Accountant’s Fees and Increased Cost of Working

Risks associated with the execution of construction or erection of projects are varied. We have specialists in engineering insurance who review project proposals for risk patterns that may affect your project execution plan. Our vast collective experience in this specialist discipline ensures that your project risk is adequately insured

Our Engineering Insurance products include:

• Contractors / Erection All Risk Insurance – This policy is designed to insure construction / erection works and coverage is offered under two sections. Section One covers Material Damage, i.e. sudden and unforeseen physical loss or damage to the Works and Section Two covers Third Party Liability, i.e. your legal liability resulting from death or bodily injury or property damage to a third party caused by an accident at the Contract Site
• Plant & Equipment Insurance – This policy is designed to cover Plant & Machineries including Cranes and other construction equipment against any unforeseen and sudden physical loss or damage. This policy is normally incepted on an annual basis and it is important that machineries are covered on new replacement value basis to avoid under insurance

Business in Middle East is increasingly exposed to legal liability claims with the society becoming more legally aware and litigious. Our portfolio of Liability insurance products are designed to cover this exposure arising out of business operations.

Liability insurance products include:

• General Third Party Liability Insurance – This policy offers indemnity for sums which you are held legally liable to pay as damages resulting from accidental death or bodily injury of any third party person or accidental damage to third party property happening in connection with your business during the policy period. This policy can either be incepted for a specific project or on an annual basis
• Professional Indemnity Insurance – This policy offers indemnity for sums which you are held legally liable to pay as compensatory damages arising from claims made against you during the period of insurance in respect of negligence in the conduct of your professional practice. This policy is normally purchased by designers and consultants and can be incepted either for a specific project or on an annual basis
• Directors & Officers Liability Insurance – This policy covers personal legal liability of Directors and Officers of a company resulting from wrongful act while working with the company. Employees acting in a managerial / supervisory category are considered to be Officers and their acts would also be covered under this policy. Directors and Officers can be subject to law suits resulting from failure to properly execute their duties and such law suits can be due to allegations of power abuse, mismanagement, etc.  The law suit is instituted against a director in his personal capacity and their personal liability is unlimited.  Such law suits can be filed by stakeholders like shareholders, competitors, customers, creditors, financial institutions, regulators, employees etc…
• Ship Repairers Liability – This policy indemnifies all sums which you as an insured ship repairer would become liable to pay by reason of Legal Liability for loss or damage to any vessel or craft which is in the care, custody or your control for the purpose of being worked upon including shifting and moving within the limits of the port at which the work is being carried out including trial trips. This policy shall also cover loss of or damage to Third Party Property occurring in the course of or arising from your Ship Repairing Activities.
• Freight and Transport Liability – This provides to cover the legal liabilities, in respect of the Freight Forwarding Operations as in a Freight Service Industry for loss or damage to cargo whilst in the care, custody or control of the insured Freight Forwarder who might have been contracted or sub-contracted to provide transportation services. We can cover Freight Forwarders, Non-Vessel Operating Common Carriers (NVOCC), Road / Rail / Air Transporters, Logistic and Distribution Companies, Couriers, Port Authorities / Terminal Operators etc.

This policy offers cover for employees as per the provisions of U.A.E. Labour Law covering work related accident and occupational diseases.  All employees are required to be covered under this Policy including the top management.  This policy is normally incepted on an annual basis and can be extended to include cover for Employer’s Liability as per Shariah / Common Law

Our products within this segment include:

• Money Insurance – This policy is designed to cover money against loss, destruction or damage whilst being kept in safe or in a strongroom by housebreaking or burglary or by hold-up. This policy also covers money whilst in transit under the custody of your employees from your premises until arrival at the place of disbursement or deposit
• Fidelity Guarantee Insurance – This policy is designed to cover loss directly sustained by your company resulting from forgery or embezzlement, larceny or fraudulent conversion of money or goods belonging to your company by your Employees. Normally, employees handling cash, accounts and inventory are covered under this policy
• Personal Accident Insurance – This policy offers worldwide cover for your employees on a 24 hour basis against death or bodily injury resulting from an accident. The compensation provided is based on sum insured selected by you in respect of the persons insured at the time of policy inception
• Bankers Blanket Insurance – Bankers Blanket is a package policy designed for financial institutions like banks, exchange companies, etc. This policy offers cover under various sections which includes infidelity by employees, loss of cash in premises & while in transit, loss by forgery and counterfeit currency,etc….
• Jewellers Block Insurance – Jewellers Block is a package policy designed for jewellers and this policy covers loss of merchandise in premises within vault and outside vault during business hours & while in transit

Apart from the above, we also offer various other specialist classes of insurance like Event Cancellation, Hole-in-One, Trade Credit, Kidnap and Ransom, Terrorism, etc.