General Accident and Liability
Bankers Blanket Insurance
Concept: This policy is intended for banks and all other financial institutions who are engaged in providing financial services. This policy indemnifies the 'Assure' for direct monetary loss due to loss, damage, misplacement, destruction of insured property arising from perils insured subsequent to retroactive date and discovered during the policy period, which is usually on yearly basis.
Scope of Coverage: Provides comprehensive coverage under the following clauses:
Clause I. Infidelity of Employees
Covers loss of property due to dishonest or fraudulent act of one or more employees of insured resulting in improper financial gain.
Clause 2. On Premises
Covers loss of insured or customer's property at insured's premises due to theft, burglary, damage, destruction, or misplacement.
Clause 3. In Transit
Covers loss or damage to property from any cause whilst in transit either in the custody of assured's employees or Security Company or its vehicle but excluding property in mail and subject to amounts recoverable from a Security company under its own insurance.
Clause 4. Forged Checks, etc.
Covers loss due to forgery or fraudulent alteration of any financial instrument and payment by assured in good faith on the above basis.
Clause 5. Securities
Loss resulting from Share certificates, Bonds, Debentures, Government Guarantees, Promissory notes, Deeds, Certificates of Deposit, etc.
Clause 6. Counterfeit Currency
Covers insured's loss due to acceptance in good faith of any counterfeit or fraudulently altered currency or coins.
Clause 7. Damage to Offices & Contents
Covers loss or damage suffered to all contents owned by assured in his offices due to theft, robbery, hold-up vandalism, malicious mischief, etc.
Premium Rating: Usually an amount rated on the basis of amounts and limits of indemnity agreed, deductibles, claims history of insured, etc.
Burglary Insurance
Features: Covering properties contained in Insured's Premises against loss by forcible and violent entry or exit from the premises.
Benefits: the policy provides indemnity against loss or damage to property insured caused by burglary.
Premium is calculated per thousand of the total Sum Insured. The rate varies according to the nature of the risk to be covered.
Jeweler’s Block Insurance
Concept: To provide a comprehensive coverage for the merchandise of gold, jewelry and such other precious metals and stones.
Plate Glass Insurance
Features: Covering breakage of plate glass (Windows, Doors, Showcases exhibitory Items, etc.)
Benefits: The policy provides indemnity for the loss or damage caused by breakage of glass. (Value of the glass together with the cost of refixing).
Premium is calculated as a percentage of total sum insured. Rate varies according to the nature of the risk.
Workmen's Compensation
Concept: To cover the employer's legal liability for compensation as a result of his employees suffering bodily injury or death due to work related accidents arising out of and in the course of performance of his employment of the insured's business.
Coverage: Compensation is payable to the employees according to the Qatar Labour law. The policy can be extended to cover accidental medical expenses, employer’s liability and repatriation cover.
Premium Rating: An agreed rate is applied on the actual or estimated total annual wages of employees at rate per cent.
Professional Indemnity
Concept: To provide indemnity to such professional individuals or firms like architects, accountants, auditors, lawyers, medical practitioners including partners and employees against claims for financial loss or negligence due to failure to exercise the required degree of care and skill expected in the conduct of their profession or business.
Coverage: Insured's legal liability to pay claims made against him for negligent act, error or emission on the part of the insured, his partner or his employees committed in the professional conduct of his or their business. Policy period is usually one year. The policy covers costs and expense incurred by the insured for investigating and defending the claims with the consent of the company, But not exceeding the limit of the liability covered by the company.
Limit of Indemnity: As agreed and specified in the policy. The amount varies according to scope, volume and nature of work. Usually on aggregate limit of indemnity for any one period of insurance. Appropriate limit of indemnity depend on the nature of business.
Premium Rating: Rated on the limit of indemnity selected plus the number of partners and staff, nature of insured's activities, experience, professional exposure and insured’s annual turnover
Money Insurance
(Money in Transit, In Locked Safe and /or In Premises and in locked counters)
Concept: To provide compensation against loss of money during its transit or whilst in the premises of the insured up to a specified maximum limit.
Coverage:
- Money in the course of transit in the insured’s custody or in the custody of their authorized employee.
- Money in any locked strong room in the insured’s premises.
- Money in the premises during working hours duly protected.
(Money shall mean and include Cash, Bank Notes, Currency Notes, Cheques, Postal Orders, Money Orders and current postage stamps.)
Extension: Additional coverage available for loss or damage to the safe or strong room caused by burglars and thieves subject to declaration of value of safe with all other details such as make & other specification made available.
Limit of Indemnity: Actual loss suffered only is payable as compensation but not exceeding the sum insured as agreed and stated in the policy.
Premium Rating: Calculated on the total estimated carrying during the year and the amount at risk at the premises. The single carrying limit is also required to be mentioned to facilitate ratings. Rates vary according to nature, location of risk, Security, Clients past record and of course the estimated annual carrying limit.
Fidelity Guarantee Insurance
Concept: To provide indemnity against loss of insured’s Money or Goods caused by the infidelity of the employees.
Coverage: Any loss of money or goods sustained by the insured as a result of act(s) of Forgery, Embezzlement, Larceny, and/or Fraudulent conversion committed by any of the insured's employee(s) in a the course of their duties as specified in the policy.
Forgery shall mean the forging or fraudulent altering of any document or the using of any forged or fraudulently altered document by the employee(s) whereby he or they obtain possession of moneys or goods of the insured.
Limit of Indemnity: Sum insured as agreed. Compensation is payable for the actual loss suffered.
Premium Rating: Rate per thousand of the total sum insured.
Employer’s Liability Insurance
Concept: To indemnify the employers who are legally liable for claims made by employees or their dependants (in the event of the death of the employee) who suffer bodily injury, death or disease caused due to;
Negligence of Employers:
- Employer not providing competent staff or fit and proper premises or plant along with a safe and proper system of working.
- Negligence of employer's fellow employees.
Coverage: Full indemnity up to the limit of liability specified in the policy, in respect of injury, disease or death of any person under the employment arising out of and in the course of employee’s functions relating to the employment in the business of the employer and as per the verdict of the court of law.
Premium Rating: Generally calculated as percentage of the total annual salaries depending on the nature and duration of business, place of work, etc.
Hauler’s Liability
This policy covers subject to the Terms & Conditions of the policy, Insured legal liability under common law, rational or international convention by statue or special agreement for damage to the goods on Transit. It also covers legal liability of the assured for negligent acts, errors or commission. It extends to cover additional cost or expense necessarily insured by the insurer to prevent or minimize losses. However it excludes consequential loss.
Ship Repairer's Liability Insurance
Concept: To cover the insured’s legal liability as ship repairers for loss or damage to vessels / crafts upon which they are working or in their care or custody.
Product Liability Insurance
Concept: To provide cover to manufactures and suppliers against legal liability towards third parties for property damage and injuries or illness or death caused by or arising from any goods manufactured, sold, supplied, delivered, installed, erected, repaired, tested, treated or altered by the insured.
Public Liability Insurance
Concept: Any business can potentially damage people or property. All businesses are bound by a duty of care for their clients, suppliers, distributors, neighbors & the environment.
Coverage:: Provides coverage against Third party property Damage / Third Party Bodily Injury Caused by accident involving the insured.
Travel Insurance
Concept: : Traveling abroad can be exciting and at the same time quite challenging, if we are not well prepared. A little bit of planning before you leave can make your trip smooth and memorable.
Besides your luggage, money, passport and tickets, the next important item to accompany you on your trip is a reliable travel insurance plan to take care of any unexpected event.
Coverage:
- Medical & Emergency Assistance
This includes cover for medical & hospitalization abroad, emergency dental care, repatriation expenses, Emergency return home following death of close relative & many More
- Personnel Assistance Service
This includes cover for Legal defense, advanced bail bond, hijacking, 24 hour assistance service, delivery of medicine
- Losses & Delays
Includes cover for loss or credit card /passport / driving license, Loss of baggage, Trip cancellation, delayed departure etc
- Personnel Accident
Covers death, permanent total & permanent partial disablement following accident.
- Civil Liability Benefits
Premiums are calculated based on the duration of the travel.