Business Insurance

There are various policies that we offer under business insurance. These policies cover:

This policy caters for businesses and professionals who need cover for equipment away from the premises and also accidental damage cover both at and away from the premises. The type of equipment covered would be:

  • Computers, calculators and other portable devices
  • Medical instruments
  • Tools
  • Stands and their contents at exhibitions and trade fairs
  • Radios, televisions, video recorders and cameras

This is a combined policy that is designed to cover businesses with high value insurable assets. It covers:

  • Fire and Allied Perils
  • Theft
  • Money
  • Goods in Transit
  • Glass
  • Business All Risks
  • Business Interruptions
  • Accounts Receivable
  • Claim preparation costs
  • Additional increase in cost of working

The policy covers contents of an office of professional people such as lawyers, insurance brokers and estate agents. It covers an array of perils such as:

  • Fire
  • Lightning & Explosion
  • Theft
  • Accidental damage to mirrors and glass forming part of the office furniture
  • Loss of money

This policy is taken by companies to cover its employees against sudden and unforeseen accidents. It covers for Death, Permanent Disability, Temporary Total Disablement and medical expenses as a result of an insured accident.

Business Interruption is also known as Consequential Loss or Loss of Profits. The purpose of this form of insurance is to indemnify the insured for the loss of turnover and continuing costs as a result of an interruption to the business following damage by an insured peril. This policy will pay during the period of interruption for:

  • Loss of profits
  • Wages for employees that the insured needs to keep
  • Rent or bond repayments while the building is being reinstated

This policy covers:

  • Construction
  • Custom & Court Bonds
  • Mortgage Guarantee
  • Performance
  • Bid Bonds

This is also a type of consequential loss insurance. It covers the loss of income caused by the accounts being destroyed by an insured peril and the company then being unable to trace its debtors.

The Goods in Transit policies can either be for loss or damage to goods following fire, collision or overturning of the carrying vehicle or for all risks. The all risks cover applies whilst the goods are being loaded onto and off the vehicle and during temporary storage during the journey.

The goods can be insured either by the owner or by the carrier, and cover can apply to road, rail and postal carryings.

This only covers losses as a result of a break-in or hold-up excluding shop-lifting. Theft must be as a result of forcible and violent entry to or exit from the insured buildings or any attempted threat or as a result of theft or any attempt threat following the use of threat of violence.

Because of the high incidence of robberies involving money, it is essential to have this form of insurance. It covers the loss of money on the premises or in transit. It covers money:

  • At the insured’s premises during business hours whether it is in a safe, a till or secured elsewhere on the premises
  • In a locked safe or storeroom when the business is closed for business
  • In transit to and from the bank

Under this policy you can insure plate glass of any type against accidental damage and breakage. This can apply to windows, shelves and glass in office furniture. It also covers damage to the frames and lettering on windows if they are damaged at the same time as the glass.

This form of insurance is to protect the insured against losses of money and goods caused by the dishonesty of any of his employees. This applies to contract employees as well as all other employees.

This form of cover is needed for businesses where physical work rather than products are involved, such as a vehicle or machinery repairer. For example, if a component is put back wrongly into a vehicle or piece of machinery and an accident results, then the policy would cover for the damage caused.

This class of insurance covers emergency medical and related expenses, personal injury, personal property and personal liability.

Liability Insurance

This covers a firm’s liability at law for injury to persons (other than its employees) and damage to property (other than the firm’s own or for which they are responsible).

This form of cover is intended for any company involved in providing goods as a manufacturer as they would need cover for products liability. It gives cover for legal liabilities of an insured for death of or injury to a customer caused by a faulty product and also for any damage to their property. An example is foodstuffs with wrong ingredients that can cause sickness or death or hair chemicals with wrong ingredients that can cause damage.

This policy covers a firm's legal liability for injury to its employees.

When an award is made by the National Social Security Authority to an employee it does not take into account negligent behaviour by any party. If they find that an employer was in any way negligent then they will impose a fine. The amounts of fines are set out in the appropriate act. This policy covers the payment of those legally imposed fines.

Protection for professional firms such as solicitors, architects and accountants against loss or damage suffered as a result of professional negligence, for example, a pharmacist giving the wrong medicines to a client.

Industry-related Insurance

The policy covers:

  • Fire and Perils
  • Theft
  • Money
  • Business All Risks
  • House-owners
  • Householders
  • Personal & Public Liability
  • Motor cars, commercial vehicles, tractors, trailers and farm implements
  • Cover to livestock by specified perils
  • Damage to crops

This form of insurance covers marine hull and marine cargo.

This covers Plant, Contractors, Machinery Breakdown, Loss of Profits and Computers.