This policy is designed to protect the employer from their liabilities to their workforce/employees with regards to injuries suffered in the course of their employment as per Labour Law/ Workmen’s Compensation Ordinance.
In the UAE, compensation is governed by Chapter 8 of Federal Law No.1980. The main
Loss of wages (cash allowance)
Product Liability Insurance
If you are a manufacturer or supplier of goods, even the smallest damage to property or another person because of your goods may open you up to massive claims. Since this possibility is always there, this cover is vital for manufacturers and suppliers.
Property All Risks Insurance
This policy provides an all risk coverage to properties for loss/damage due to any misfortune or accident besides the ones specifically excluded under the policy. When compared to the conventional Fire Policy, the Property All Risks Policy covers accidental damage to insured property in addition to the Fire & Allied Perils and Burglary.
Public Liability Insurance
Even though Public and Product Liability Insurance is voluntary for businesses, it
is an investment that may save you a lot more money in the future. It covers you
against any claims made against your business as well as legal costs associated
with defending these claims. An example would be if you were held legally liable
for personal injury or damage done to property etc.
Pleasure Craft Insurance
No more worrying when you’re out fishing or jet skiing. With the Pleasure Craft Insurance covering a wide variety of water sport equipment such as:
and the likes, you can rest assured and have a good time. The policy covers damage to the boat and equipment including fishing rods, trailer and the motor. The boat is insured while in water as well as outside, which means that theft or damage whilst being towed is covered. In addition, it also covers damage to property that might be caused by your activity.
Oil & Energy Insurance
This offers insurance covers for oil & energy related risks during construction as well as for operational risks. The risks associated with Energy Insurance include:
Prospecting and exploration for oil
Transportation of crude oil to the markets
It also includes risks linked to downstream activities such as:
Marketing of refined petroleum products and associated gas derivatives.
The majority of risks associated with energy related activities especially those arising from prospecting, production, refining and marketing are insurable; however failure to find oil or a fall in oil prices are not included and are not insurable.
All Risks Insurance offers coverage for physical damage or loss to contract works and third party liabilities under the following two sections.
Section – I covers all risks of physical loss or damage to contract works, including temporary works. The cover would include:
Builder's risks and cargo coverage,
Sue and labor
Removal of wreck for a separate limit,
Removal of wreck and debris separate limit,
Section– II covers third party liabilities arising from operations for an agreed limit.
Rates, terms and conditions are influenced by trends in international market and based on the following underwriting information:
Scope of work of the contract, including bar charts showing project time scale, design of the facility & method of transit/ installation at site.
Contract value broken down over major component parts, including pipelines if any.
Details of construction yard(s), contractors and suppliers of major component parts to be covered while in transit to main yard
Details of owner, including management experience, other operations, maintenance and safety procedures
Previous loss record of yard and/or construction contractors
Onshore Construction Risks Insurance offers coverage for infrastructure projects such as oil, gas, power, petrochemicals etc. against physical loss or damage on “All Risks” basis including.
Temporary and Permanent Works
Guarantee Maintenance (on a selective basis)
The cover commences with transportation and mobilization of equipment and is void once the final certificate of handover is issued - any maintenance periods thereafter can be covered.
Operational risks associated with gas plants, oil refineries, petrochemical facilities, fertilizer plants, and utilities require adequate insurance protection as the consequences in terms of physical damage and interruption losses in the event of unfortunate accidents usually run into high figures.
The coverage provided here is for all forms of property damage including machinery breakdown with the resultant business interruption as well as ensuing liability coverage that may be required.
In view of the complex nature of the risk and the hazards associated with the operation of downstream plants, the information required from the insureds persons will be an extensive one such as schedule of values, locations, details of operations, concentration of values at risk, past claims history etc.
Marine Hull & Machinery Insurance
Hull and Machinery Insurance covers ocean going as well as coastal vessels such as:
Different special purpose vessels
against physical damage to the vessel during its transit over water. Physical damage
that is caused by natural disaster at sea and other covered perils are included.
Marine Cargo Insurance
Marine Cargo Insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.
Hotel Package Insurance
This is a package policy covering loss and/or damage to the hotel property, loss of revenue, third party liability arising from the operations, loss and/or damage to guest effects, personal effects, loss of money, infidelity of employees and forgery, plate glass, etc. The premium is calculated on the basis of sum insured and limits opted under various sections of the policy. Policy can be tailor-made to suit requirements of hoteliers.
Group Life & Personal Accident Insurance
Applying for GLPA provides corporations with two benefits:
Improves employee benefits
Caters to workmen’s compensation requirements, both as per the UAE labor law
In the event of the death (natural or by accident) of an insured person, the principal sum
in respect of that person shall be paid. The principal sum can be a flat amount e.g.
50,000 DH (or higher) per person and/or the multiple of monthly salaries e.g 12
months/24 months (or higher) per person.
Group Health Insurance
Health insurance policies are tailor-made to the requirements of clients. We offer local, regional or global coverage and varying levels of provider network and flexible annual limits that can be customized per person. In addition, we also offer direct billing, so there is no need for employees to pay upfront within the provider network for any medical expenses other than the agreed deductible/co-insurance fee.
Jewellers Block Insurance
Like all traders, gold merchants are aware of the risk involved in the commodity that they trade in. Gold and jewellery, in general, attract a lot of attention and the high risk of loss and damage demands extra security. However, no matter what securities are exercised
the risk of loss is not completely eliminated. This is where insurance becomes a solution
for providing coverage.
Under this policy the word “stock” means goods consisting of:
The rate chargeable is always applied to the Total Sum Insured and is very dependent
on the scope and extent of additional cover opted for security measures in place
Fire & Allied Perils and Burglary Insurance
This policy covers all moveable and immoveable items at insured properties at specific locations. They are as follows:
Plants and Machinery
Equipment and Accessories
Stock in Trade
Other contents such as Furniture, Fixtures, Fittings, Office Equipment etc.
Erection All Risk Insurance (EAR)
This policy offers comprehensive and adequate protection against all the risks involved:
The erection of machinery,
Plant and steel structures of any kind,
Third-party claims in respect of property damage
Bodily injury arising in connection with the execution of an erection project.
Personal Accident Insurance
Accidents are unavoidable and can happen when you least expect them. They cause distress and worry, however with this policy, we cover:
External and internal bodily injuries (caused solely and directly by violent accident)
Loss incurred by accidents on a 24 hour world wide basis
Clubs, golf balls, ball markers, tees, gloves, shoes. Have all of these in your golf bag? Seems like you’re all set, right? Wrong.
As fun as golf is, it can also be an expensive sport if your clubs get stolen or damaged. Not to mention the substantial costs you have to pay when a loose swing causes injury to another player on the course. Your golf bag is definitely incomplete without your copy of Golf Insurance.
Directors and Officers Liability Insurance
This policy is a pay out to the directors and officers of an organization, or to the
organization itself to cover losses incurred due to lawsuits for alleged wrongful acts.
Credit insurance provides a business with protection against the failure of a customer to pay their trade credit debts. This can arise as a result of a customer becoming insolvent or because your customer fails to pay within the agreed credit period. These risks are referred to as 'commercial risks'. The protection covers as standard goods or services sold and delivered, but can be tailored to cover many other risks such as work in progress and binding contracts. Companies that export can protect themselves against a range of 'political' risks which may prevent or delay payment.
Contractor All Risk Insurance (CAR)
This offers protection to the contractor against loss or damage during the execution of a construction
project. This covers:
Third party claims to property damage
Aviation Insurance covers all aviation related risks like the following:
Loss or damage to hulls, spares, etc.
Third party liability
Other related exposures.
This service is available for:
Privately owned aircrafts
Commercial activities and fleets
Clubs and flying schools
Ground service providers
Contractor’s Plant And Machinery Insurance (CPM)
This policy covers the contractor’s plant and all machinery on an annual basis, however it does not cover internal breakdowns. It covers Unforeseen and sudden loss of or damage to the insured items necessitating their repair or replacement.
This policy is not limited to a specific construction site rather also:
During maintenance operations
Business Interruption Insurance
We understand that while fires or an insured peril might do very little damage to physical structures and its contents; the disturbance in the business can be stressful and difficult to deal with.
The Consequential Loss Policy compensates the insured for:
Loss of Net Profit
Cost of Working Expenses (which are a result of the accident)
Expenses should fall under Fire & Allied Perils / Property All Risks Insurance Policy
It is important to select the Indemnity Period (3/6/12 months or more) during which the business can be restored to its pre-loss position. Business Interruption Insurance can only operate when a Property All Risks or Fire Insurance Policy is in place.
Select from our comprehensive commercial insurance services