Business Insurance

This policy provides comprehensive insurance coverage from one single insurance policy to institutions, which have heavy financial transactions like Banks or other financial institutions.

Scope of Cover

It covers claims arising out of errors, omissions, misstatements, misleading statements, neglect, breach of trust, cash/valuables in the premises, cash/valuables in transit, forgery, alteration, infidel activities of staffs or breach of duty among others.

This policy covers the cost of replacing your lost items if there is actual forcible or violent breaking into or exit from your home or any other insured premises. It also covers the damage to your insured premises as a result of this forcible entry or exit

Exclusions:

• Loss or damage done by someone who is lawfully on the premises, such as an employee or friend
• Loss or damage that happens while your premises are left empty or without a caretaker for a continuous period exceeding particular consecutive days as it may be enshrined in a policy in question

Business Interruption insurance will pay your business for income lost should your operations be interrupted by the events listed in a policy issued. These could be fire, lightning and allied perils such as floods, impacts, explosions, earthquakes, windstorms, riots, strikes, civil commotion and more.

Get financially covered against this loss of income so that if something unexpected happens, your business won’t suffer cash flow issues and you can be up and running again as soon as possible.

Though there is customised limit of cover up to about $150,000.00, most Travel Insurance pay up to a maximum of EUR 30 000, for the following benefits:

• Medical expenses and hospitalisation abroad
• Transport or repatriation in case of illness or accident
• Emergency dental care
• Repatriation of family member travelling with the insured
• Travel of one immediate family member
• Repatriation of mortal remains
• Emergency return home following the death of a close family member
• Delivery of medicines
• Relay of urgent messages
• Advance of funds
• Legal defence
• Loss of passport, driving license or national identity card abroad
• Compensation for delay in the arrival of luggage
• Location and forwarding of baggage and personal effects
• Delayed departure

This policy covers you against the loss or damage of your personal or commercial property as a result of fire, lightning, or any other allied perils that will be enshrined in the policy agreement.

It also covers the cost of replacing your lost items if there is actual forcible or violent breaking into or exit from your home or any other insured premises. It again covers the damage to your insured premises as a result of this forcible entry or exit

Exclusions:

• Loss or damage done by someone who is lawfully on the premises, such as an employee or friend
• Loss or damage that happens while your premises are left empty or without a caretaker for a continuous period exceeding particular consecutive days as it may be enshrined in a policy in question
• Loss or damage by an unnamed peril with respect to the fire & allied perils.

Net Profit lost as a consequence of the interruption of your business standing charges which continue to be payable by your business to the extent that they are no longer earned by the residual trading. Wages of the staff that need to be retained during the interruption period.

In addition, where your business is dependent partly upon the continued existence of the premises of suppliers, customers or other persons or bodies from which you receive services or facilities, the policy can be extended to cover loss resulting from damage by insured risk at such other premises.

As a director or officer of a company, you’ll inevitably make decisions on a daily basis that can have huge effects and consequences on the people around you. But even the best managers make mistakes. What if you, as a director or officer, make a decision or take an action about the company that is seen as being a “wrongful act” – even if you were acting in good faith? This could result in a claim made against you for which you’d be financially liable.

Directors’ and officers’ liability covers you financially for any claims made against you in this kind of situation. The policy pays for any costs related to the claim, such as court proceedings or financial losses that result from the event.

With this insurance, the following parties are covered:

• The director/officer
• The company if it has contributed costs towards dealing with the matter
• The estate, heirs, legal representatives or assigns of any deceased, incompetent or insolvent Director or Officer

The EEI insurance applies whether the insured items are in use or at rest. It also covers them if they’re being dismantled for cleaning, overhauled or moved within the premises.

We have brokered some deals with insurers who have specialist underwriters, risk engineers and claims adjusters who all understand the unique challenges of this industry, and have designed engineering insurance policies in accordance with their experience and knowledge.

Should one of your employees commit theft, fraud or dishonesty towards your company, Fidelity Guarantee insurance will protect you by compensating for any direct financial losses that may result from acts of dishonesty by your employees.

Fire and Allied Perils policy covers you against the loss or damage of your personal or commercial property as a result of fire, lightning, or other allied perils including:

Explosions – Covers domestic explosions and associated fires. This excludes steam generating boilers, economisers or other vessels, machinery or apparatus or their contents resulting from their own explosion or implosion.

Windstorms – Covers complete roofed buildings and contents thereof. This excludes partially constructed building and good stored in the open.

Earthquakes or volcanic eruptions – Covers against loss or damage caused either by earthquake shock and fire or volcanic eruption.

Burst Pipes – Bursting or overflowing water tanks, apparatus or pipes.

Floods – Covers against severe weather conditions that cause loss or damage due to rapid rise in water levels.

Aircraft damage and/or articles – Covers loss, destruction or damage caused by aircraft, other aerial or space devices and articles dropped from them. This excluding those caused by pressure waves.

Impact damage – Covers loss of or visible physical damage or destruction caused to your insured property due to impact by any rail/road vehicle or animal by direct contact.

Optional benefits.

• Direct loss or damage to your property that is caused by strikers and/or riots.
• The loss or damage to your property caused by any malicious act.

Goods in Transit policy will protect your business or operations against the accidental loss of or damage to goods being transported by roads within agreed geographical boundaries, caused by any of these events:

• Fire
• An accident to the transporting vehicle
• Theft following violence or threat of violence against your employee or carrier, other than at your own business premises

It is an accident cover ideal for management and senior employees because benefits are not limited to only work related accidents or an annual income.

The policyholder who has sustained bodily injury caused by violent accidental external and visible means resulting in:

• Death
• Permanent Disability
• Temporary Total Disability
• Medical Expenses

One can also choose to add on the following extensions to a policy:

• Exposure – to elements, starvation and/or thirst
• Disappearance
• Burns Disfigurement
• Life support system (not less than 3 consecutive days)

• Marine Cargo
• Marine Hull
• Ship Repairs Legal Liability
• Stevedore & Shore Handling

Holding cash in your business brings with it a host of risks, so it’s best to be covered for unexpected or unwanted events. Money Insurance covers your business for loss, damage or destruction of Cash In-Transit, Cash In-Safe and Cash On-Premises. These three categories can also be taken in isolation or stand alone.

You can also take out additional cover or an extension to protect your business against loss, destruction or damage to any safe, strong room or caused by someone else during a theft or an attempted theft. You can again get cover for damage to clothing or personal effects sustained by you or your employees, by a person attempting to steal money from your business.

• Comprehensive Motor Insurance
• Third Party, Fire & Theft Motor Insurance
• Third Party Only Motor Insurance
• Executive Motor Insurance

As part of this policy, you would like to take out personal accident insurance for your employees.

Product Liability insurance covers your business against legal damages as a result of bodily injury, illness or death to a person caused by any defect to a product you sell or supply. That means that even if you didn’t intend for a product to cause harm, if it does and you’re involved in legal action, your business will be financially covered.

If this is the case, you could face legal action against you. Even if you didn’t intend any wrongdoing with your advice, you could still suffer financial losses or face legal costs if actions are brought against you.

With our professional indemnity insurance, you’ll be covered for all costs and expenses relating to claims resulting from this kind of situation.

For these kinds of situations, public liability insurance covers you and/or your business against any accidental bodily injury or illness that happens on business premises, or if there’s an accidental loss or damage to a third party’s property on your premises.

This insurance covers your business whether the party involved passes away or not, and it also pays out for damages, legal costs and any other expenses that may be involved should there be a claim.

Having cargo as part of your day-to-day business brings with it a large amount of risks. Our Stevedore and Shore Handling insurance will compensate you in the following circumstances:

• A third party experiences personal injury or property damage at the places specified in your policy.
• Sudden physical loss of or damage to your plant and equipment in your care, custody and control.
• Liability for financial loss incurred by your customer as a direct result of customer goods being lost, destroyed or damaged.
• Damage to your imported and exported cargo during removal and/or transfer from Vessel to Stack (or the other way around), within the peripheries of the port.
• Any authorised law costs and expenses you incur.
• Costs and expenses that you are legally liable for relating to the removal or recovery of customer goods and the disposal of any debris, as long as these relate to a documented sudden and accident occurrence.

In line with the Workmen’s Compensation Act 1987 PNDC 187, the Workers Compensation insurance covers you for any amounts you’re liable to pay employees who sustain injury by accident or disease as a result of their employment with you. Cover is for working hours only.

The compensations for this policy is linked to the higher executive officers salary in the civil service and a doctor’s percentage degree of incapacitation awarded.

The policy can be extended to cover common law liability, especially in event of dissatisfied employee concerning the limitations of the higher executive officers salary awarded and might proceeds to court on that bases.

Compensations:

• Death is usually 5 years annual salary
• Permanent Total Incapacitation is usually 8 years annual salary
• Partial Permanent Disability is a percentage of incapacitation awarded by a medical officer being applied to the 8 years annual salary
• Reimbursement of proven medical expenses of work related injury