Fire Consequential Loss

This Policy is issued in conjunction with a Fire Material Damage Policy. The policy protects the earning capacity of that capital by making good loss of your net profit, enabling you to meet overheads and defraying increase in expenditure.

The cover provides indemnity against loss of gross profits following reduction in turnover (or other appropriate standard e.g. rent receivable) and increased cost of working necessarily incurred to maintain or restore turnover, (as for example renting temporary premises, having work done elsewhere, overtime or extra labor and special advertising) resulting from a peril covered under the attendant Fire Policy.

Fire and Perils

The standard Fire Policy provides cover against the material loss to property caused:-

• Fire
• Lightning
• Explosion

a) of boiler used for domestic purpose only.

b) in a building not being part of any gas works of gas used for domestic purposes or used for lightening or heating the building.

All Risk

This is the widest form of cover available for property. It covers accidental loss, damage or destruction from any cause, including fire, which is not specifically excluded.

It is a requirement for this cover that each item is specifically identified and is allocated a separate sum insured. For items that can be identified by make, model and serial numbers, these must be given as they are important when claims occur. In some cases, particularly where items of jewelry and works of art are concerned, we can issue ‘agreed value’.

Goods in Transit

The policy covers loss of or damage to property caused by fire, theft or accidental means whilst in transit by road or rail or whilst temporarily housed in the ordinary course of transit within the territorial limits.

The policy is subject to an excess.

Burglary

This policy covers loss or damage by theft involving entry to or exit from a building by forcible and violent means or any attempted threat, provided there are visible marks made on the premises at the place of such entry or exit by tools, explosives, electricity or chemicals.

Damage to the premises caused by thieves is included if the insured is responsible for the repairs provided the sum insured is adequate.

Public Liability

Public Liability Insurance provides an indemnity in respect of legal liability arising in connection with the insured’s business to pay damages as a result of accidental bodily injury or accidental loss of or damage to property of the members of the public.

Claims may arise as a result of negligence either on the premises or whilst working away from the premises.

Money in Transit

The policy covers loss or destruction of or damage to money belonging to the insured, or for which he is responsible for by any cause whilst being conveyed by an employee or other authorized person or in the insured premises or in a bank night safe.

In addition it covers loss of or damage tot he safe or strong-room of the insured as a result of theft or attempted theft of money.

Money refers to cash, bank notes, cheques, money orders, postal orders, bills of exchange, postage and other stamps (not being a stamp collection or part thereof) having a monetary value.

Fidelity Guarantee

Fidelity Guarantee may be effected by any organization or person who may suffer as the result of the dishonesty, failure in the loyal performance of a duty. To indemnify the employer against direct pecuniary loss and in many cases also loss of stock, which might result from acts of dishonesty by an employee in the course of his employment.

The policy normally provides that all such acts insured against are discovered not later than six months after resignation, dismissal, retirement or death of the defaulting employee nor later than three months after the termination of the policy whichever happens first. The object of imposing a time limit for discovery is to prevent stale claims, which will be troublesome to investigate, and where the insurer’s right of recovery might be prejudiced.

Computer Insurance

This policy covers accidental damage including mechanical and electrical breakdown of computers, installation and peripheral equipment.

The sum insured should represent the new replacement value of the computer installation, including the cost of freight, installation and custom dues.

Motor

Cover is available for both light commercial vehicles such as pickups and private cars.

Scope of Cover includes:-

1. Comprehensive Cover

This form of policy provides an indemnity in respect of:-
1) Loss of or damage to any insured vehicle and its accessories and spare parts therein by:-

• Accidental collision or overturning.

• Fire, external explosion, self ignition, lightning, or theft.

• Malicious Act.

2) Indemnity in respect of legal liability to third parties for bodily injury or death and/or damage to property.
3) The cost of protection and removal of the vehicle to the nearest repairer.
4) Medical expenses incurred by the driver and any occupants of the insured vehicle as a result of bodily injury sustained in an accident.

2. Third Party Fire and Theft

This form of policy provides indemnity as stated under items 1 (b), 2 and 3 above.

3. Third Party Only Cover

This form of policy provides indemnity as stated under item 2 above. This policy is subject to an excess for Comprehensive cover, Third Party Fire and Theft covers and also legal liability to third parties for damage to property.