Miscellaneous Insurance

 

This insurance covering the uncovered risks on other insurance products such as the risk of financial loss. This type of insurance consists of:

 

CASH MANAGEMENT INSURANCE

This policy insures against physical loss of and/or damage to money and/or valuable goods up to the amount insured whilst in or upon the premises occurring during the period of insurance.

 

Cash in Transit

This policy insures against physical loss of and/or damage to money and/or valuable goods up to the amount insured whilst in transit within the territorial limits specified in the policy occurring during the period of insurance.

 

DIRECTORS & OFFICERS INSURANCE

This insurance protects company’s director and/or officer against lawsuits by third parties caused by errors or negligent acts in performing their duties. This insurance also provides protection to the company against lawsuit with respect to employment practice and securities exposure.

 

BANKERS BLANKET BOND

This insurance protects banks against losses from various banking exposures, one of which criminal act committed by the bank’s employees (first party fraud) or in collusion with third party (third party fraud) and also criminal act arising from its computerized system or from cyber risk.

 

COMPREHENSIVE GENERAL LIABILITY

Covering the Insured’s legal liability to third parties in respect of accidental bodily injury and/or property damage arising out from the Insured business activities.

 

EMPLOYER’S LIABILITY INSURANCE

Covering legal liability of the Insured for damages (including claimant costs and expenses) in respect of bodily injury and/or death to anyone person under a contract of service or apprenticeship with the Insured in connection with the Insured business.

 

FIDELITY GUARANTEE INSURANCE

Covering the Insured against financial loss as the direct result of any act of fraud or dishonesty committed by any employee.

 

AUTOMOBILE LIABILITY INSURANCE

Covering Legal Liability of the Insured for damages (Including claimant cost and expenses) in respect of bodily injury and/or property to third party arising from the use of vehicle (owned, non owned, or hired) by the insured in connection with performance of the work.

 

WORKMEN COMPENSATION INSURANCE

Lump sums compensation for any employee of the Insured who sustained bodily injury by accident arising out of in the course of his employment with the Insured in the Business.

 

PROFESSIONAL INDEMNITY INSURANCE

This liability insurance protects professionals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in a civil lawsuit

 

SURETY BOND

A surety bond or surety is a promise to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.

 

CONTRACT BONDS

Contract Bonds, used heavily in the construction industry, are a guarantee from a Surety to a project's owner (Obligee) that a general contractor (Principal) will adhere to the provisions of a contract.