Liability Insurance

Bankers Indemnity

This policy provides comprehensive insurance coverage from one single insurance policy to institutions that 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.

Directors / Officers Indemnity Insurance

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

Fidelity Guarantee Insurance

If you employ cashiers, bank clerks, accountants or a sales team within your business, they will be frequently exposed to things like cash and valuable business stock. For some, the temptation can be too great not to steal these assets or misuse them in a way that is against the law.

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.

Hanger-Keepers Legal Liability (Aviation)

The airport operator may act as bailee for aircraft parked over-night or for longer period. The hanger-keepers have liability for loss of or damage of the aircraft whilst it is in their care, custody or control.

Premises Legal Liability (Aviation)

This policy protects the insured against claims arising out of the use of his premises by third parties or passengers. This may include liability arising out of faulty elevators or escalators; liability arising out of contractor’s works, shops, restaurants and newsagents are also covered if necessary.

Products Legal Liability (Aviation)

Aircraft serviced or repaired on the premises or fuel sold, supplied or provided by the airport operator may lead to claims. The Policy may be extended to cover control tower liability.

Product Liability Insurance

If you’re a manufacturer producing products that you sell to customers or suppliers, there is a small chance that these could potentially harm the people who buy them and use them.

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.

Professional Indemnity Insurance

If you’re a professional in a specialised field, such as a doctor, lawyer, psychiatrist, architect, accountant, consulting engineer, consultant, analyst, IT specialist, etc., you’ll offer advice on a daily basis as part of your work. But sometimes, the advice you give may have unintended negative consequences for a third party – whether it’s a client, a colleague, or a professional board of which you’re a member.

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.

Public Liability Insurance

As a business or an institution, it’s your duty to look after your employees and customers while they’re on your premises. But accidents do happen – for example, you could run a manufacturing plant with dangerous machinery that could accidentally harm the people who operate them. Or a customer getting injured or damage to his/her property while on your premises.

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.

Ship Repairers Legal Liability

This policy offers a ship repairer indemnity for loss of or damage to vessels in his care, custody or control. Cover extends to loss of or damage to machinery or equipment of any vessel whilst such machinery or equipment is removed from such vessel during repairs.

Stevedore and Shore Handling Insurance

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.

Workmen’s Compensation / Employers Liability

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