Aviation policy cover is in three sections. First, the hull section covers accidental loss or damage to the aircraft, the second section covers liability for damage or injury to persons or property on ground caused by the aircraft and the third section covers the legal liability of the aircraft operator for accidental bodily injury to or death of passengers
Machinery Breakdown Insurance
This policy is aimed at individuals or organizations wishing to insure against sudden and unforeseen damage to the machinery from such causes as faulty materials construction or erection, vibration, maladjustment, misalignment, defective lubrication, loosening of parts, abnormal stress, fatigue, self heating, centrifugal force and excessive electrical pressure. The sum insured are based on the current replacement values of the insured items including installation costs and custom duty, where applicable.
This policy covers loss or damage to the Insured’s equipment from accidental causes while situated at the specified premises. The policy may be extended to cover consequential loss of revenue or additional expenditure i.e. extra costs of renting alternative computer facilities if yours is damaged, as well as the cost of retrieving lost data.
A person or corporate body placing a contract requires protection against failure of the contractor to carry out his obligation as specified in terms of the contract. The insurance bond is the most common method of protection.
The insurance bond is an undertaking by the insurer to accept responsibility for performance of the contractual obligation.
Types of Bonds:
• Performance Bond
• Advance payment Bond
• Tender for Bid Bond
• Credit Bond
• Custom Bond
• Counter indemnity/Guarantee Bond
Contractors All Risk
This policy offers comprehensive protection against loss or damage in respect of contract work, construction plant and equipment and/or construction machinery. The policy may also be extended to provide protection against third party legal liabilities.
Erection All Risk
This policy offers comprehensive protection against all the risks involving in the erection of the machinery, plant and steel structures of any kind. It may be extended to cover third party liability in connection with the erection project.
Plant All Risk
This policy covers loss or damage to the insured machinery whilst stationed from any cause outside the machinery including fire, import damage, burglary and legal liability arising therefore.
All Risk Insurance
This policy insured assets which are extremely valuable and require cover beyond the normal scope of Fire and Burglary policies. This policy also covers the insured against accidental breakage and pretty theft of the items.