Fire and General Accident Insurance
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Workmen's Compensation Insurance |
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This policy covers the employees and laborers of the Insured whilst on duty and engaged in the execution of the Insured's business&/or any project undertaken by the Insured, against accidental bodily injury, disablement or death. The cover includes commuting time from place of residence to place of work and/or vice versa provided the normal and direct route is followed. Compensation is payable in accordance with the provisions of the Kuwait Labor Law presently in force but excludes hernia, sun/heat stroke, medical expenses and diseases. It also excludes first day of incapacity in respect of all workers and Fridays in respect of daily paid workers.
The above covers can be extended to include the following at additional premiums to be agreed:
- Employers liability up to a reasonable agreed limit
- Death or disablement as a direct result of an accident arising from the presence of munitions of war remaining from hostilities or military exercises subject to the provision of a munitions clearance certificate from an authorized body.
- Working on Fridays, Public holidays and Overtime provided that the Insured declares to the Insurer details of the additional payments made as salaries and wages for these additional works.
Insured has to provide the following details to the Insurer to properly assess the risk and arrive at competitive terms.
- Nature of Insured's business/title and detailed description of the work and the project in which the Insured's employees and laborers are going to be involved.
- Names, designation and monthly salaries of the employees/laborers.
- Total contract Value, if they are going to work for a project.
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This policy covers the loss of money whilst in transit or while being kept in a safe up to the limits required by the Insured. For proper risk assessment the Insurers require the following information:
- Maximum limit required to be covered in respect of any one transit.
- Route and frequency of transit (daily/weekly or monthly etc.)
- Total estimated annual transit.
- Limit in respect to money kept in safe.
- Iron Safe Specifications (make, model, lock type, color, height, width and breadth).
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Fidelity Guarantee Insurance |
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This policy is intended to cover against the risks of Forgery, Embezzlement, Larceny and/or Fraudulent Conversion of money committed by the Insured’s entrusted named employees. Information required includes but is not limited to; names of employees, their designation, and the limit required to be covered in respect of each employee. Regarding the upper limits required, the Insured would be asked to complete a proposal form, which will be provided to them on request.
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Third Party Liability Insurance |
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To cover the Insured’s Legal Liability towards Third Parties in respect of bodily injury (fatal or non-fatal) and/or property damage arising out of accidents in the course of execution of Insured Contract Work or occurring at the Insured’s Premises or in the course of execution of the Insured’s business.
Rating depends on a number of factors and will be done after properly assessing the risk. To facilitate correct risk assessment, the following information is to be provided to the Insurers:
- Title and Scope of the Project to be covered
- Location of the Project
- Period of the Project
- In case of premises; details of the premises, location, and details of the adjacent/surrounding property.
- In the case of a business; the nature of the business, the various operations of the Insured and the locations to be covered
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Professional Indemnity Insurance |
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This policy indemnifies the Insured against any sums for which the Insured becomes legally liable as a direct result of any negligent act, error or omission made by him during the performance of his duties as a professional man/women (e.g. engineers, architects, lawyers, accountants etc.). Indemnity will be provided in accordance with the limits, conditions and activities defined in the policy. The relevant proposal form has to be completed by the client and be submitted to the Insurers for proper assessment of risk.
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Products Liability Insurance |
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This policy indemnifies the Insured against any sums for which he becomes legally liable due to the following:
- Use of a particular product manufactured or marketed by the Insured which causes accidental bodily injury (including death, illness or disease) to any person
- Failure of products to perform the function for which they were manufactured, designed, sold, supplied or installed
Specific proposal forms are available which have to be duly completed and returned to the Insurers for proper risk assessment.
This policy is to provide reimbursement of expenditure incurred for Recall Expenses in connection with products manufactured or distributed by the Assured or the Assured’s Agents as a result of a decision made by the Assured during the Period of Insurance with the agreement of the company, that it is necessary to recall any such products because their use or consumption may cause the Assured to incur a legal liability arising from:
- Use of a particular product manufactured or marketed by the Insured which causes accidental bodily injury (including death, illness or disease) to any person
- Failure of the products to perform the function for which they were manufactured, designed, sold, supplied, installed, repaired, altered, treated, dispatched or delivered by or on behalf of the Assured
Recall Expenses shall mean the following: -
- Reasonable and necessary expenses including the cost of correspondence, newspaper and magazine advertising, radio or television announcements and transportation costs incurred in arranging for the return of the products or any part thereof to the manufacturer or his nominated agents.
- The costs of examination and where necessary replacement, destruction, disposal or re-working of the products or works or any
parts of either whether incurred by the Assured or his nominated agent including any costs incurred in delivering the same to the nominated agents arising out of a recall as described above.
Specific proposal forms are available which have to be duly completed and returned to the Insurers for proper risk assessment.
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Personal Accidental Insurance |
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As the name implies this policy covers accidental death or disablement to the Assured. Compensation will be payable to the Assured or to his legal representative in accordance with the sum insured and scale of compensation agreed and specified in the policy schedule. The age requirements for this policy are that the holder should be above 15 years and below 65 years.
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Contractors All Risk's Insurance |
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Covers the “Contract Works” undertaken by a contractor against any unforeseen accidental physical loss or damage. Interests covered include but are not limited to the total contract value including costs of all materials and all-temporary and permanent works. In addition; the principal’s existing property, contractors plant, equipment and machinery at the project site, reasonable costs for removing debris, loss or damage to third parties arising from the execution of the project can also be covered.
Rating depends on a number of factors and will be made after assessing the risk properly. To enable the correct assessment of the risk, the proposal form must be duly completed and submitted to the concerned department.
The final scope of cover will be as detailed in the Quotation submitted and will be subject to the extensions, conditions and policy wording agreed.
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Erection All Risk Insurance |
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Covers the “Erection Works” undertaken by a contractor against any unforeseen accidental physical loss or damage. Interests covered include but are not limited to the total Contract Value including costs of all materials and all-temporary and permanent works. In addition; the principal’s existing property, contractors plant, equipment and machinery at the project site, reasonable costs for removing debris, loss or damage to third parties arising from the execution of the project can also be covered.
Rating depends on a number of factors and will be made after assessing the risk properly. To enable the right assessment of the risk, the proposal form must be duly completed and submitted to the concerned department.
The final scope of cover will be as detailed in the submitted Quotation and will be subject to the extensions, conditions and policy wording agreed.
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Contractors' Plant, Equipment & Machinery (Machinery All Risk) Insurance: |
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Covers the Contractors’ Construction Plant, Equipment and Machinery
against unforeseen accidental physical loss or damage whilst being used at the construction site for the execution of the insured project. The sum Insured should be equal to the New Replacement Value of the machinery/equipment to be Insured.
Rating depends on a number of factors and will be made after assessing the risk properly. To enable the right assessment of the risk, the following technical information regarding each item is to be provided to the Insurers:
- Name of each item to be covered
- New Replacement Value of each item
- Make, Model, Manufacturer, Year of Manufacture
- Engine Number/Serial Number etc.
- Details of the project for which these items are intended to be used
- Period of Insurance required/Project Period
The final scope of the cover will be as detailed in the submitted Quotation and will be subject to the extensions, conditions and policy wording agreed.
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Electronic Equipment Insurance |
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The policy covers accidental loss or damage to electronic equipment (e.g.: computers and accessories). The sum insured should be equal to the new replacement value of the item insured. In addition to material damage to equipment, the cover can be extended to include (i) loss or damage to external data media and (ii) increased working costs – both at Additional Premium to be agreed
A specific proposal form has to be completed and returned to the insurers to enable them to set the terms of the agreement.
This policy covers the breakage of glass through any cause (except the exclusions specified in the policy). It pays a sum equal to the cost of the broken glass calculated at the current price of glass on the date of accident, up to the value specified in the Policy Schedule. Details such as measurement of the glass, the location and the sum insured pertaining to each piece must be provided to the Insurers for proper assessment of the risk.
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Machinery Breakdown Insurance |
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This policy will compensate the Insured in relation to any loss or damage to items specified in the Policy Schedule as a result of any unforeseen and sudden physical loss or damage or breakdown of the machinery from such reasons as; defects in casting and material, faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness, shortage of water in boilers, physical explosion, tearing apart on account of centrifugal forces, short circuit, storm or from any other cause not specifically excluded in the policy schedule. The sum insured should be equal to the new replacement value of the insured machinery. A specific proposal form has to be completed and returned to the insurers in order to obtain a quote.
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Deterioration of Stock in Cold Storage Insurance |
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This policy will compensate any loss or damage to perishable goods (e.g.: food items such as fish, shrimp, meat etc.) kept in cold storage which deteriorate due to any unforeseen and sudden physical loss of or damage to the machinery specified in the list of machinery and which can be indemnified under the machinery breakdown policy in force. Therefore the precondition to obtain this insurance is that the cold storage facility in which the perishable goods are to be kept should be insured under a Machinery Breakdown Policy. A specific proposal form has to be duly completed and returned to the insurers for proper assessment of the risk.
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Loss of Profit Following Machinery Breakdown |
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This policy will compensate for the loss of profit incurred by a firm/establishment following the breakdown of machinery insured under the machinery breakdown policy. Insurers must receive a completed proposal form to assess the risk properly and to decide on terms.
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Covers the death, injury or loss of livestock due to unforeseen or accidental causes. A specific proposal form and a fitness certificate from a qualified veterinary doctor must be submitted to the insurers to obtain a quote.
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Bankers Blanket Insurance |
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This policy intended for banks and other financial institutions provides a blanket cover and thereby safeguards them by providing compensation for losses arising from the following risks:
- Infidelity of employees
- Loss of property on premises
- Loss (of money and other valuables) whilst in transit
- Forgery or fraudulent alteration of checks, bills, drafts, money orders etc.
- Losses incurred by the Assured in the ordinary course of business whilst dealing with securities such share certificates, stocks, bonds, debentures, promissory notes, deeds, mortgages, certificates of deposits, letters of credits etc.
- Loss incurred by the Assured due to receipt in good faith of any counterfeited or altered paper currency
- Loss of or damage to offices and contents, which includes but is not limited to furnishings, fixtures, equipment, stationary etc.
- Loss or damage to ATM’s and cash in the ATM’s
The cover can be extended to include the following:-
- Bankers Professional Indemnity to provide indemnity to the Assured in respect of the bank's legal liability to third parties arising out of any negligent act, error or omission whilst performing their professional duties as a banker
- To covers loss arising out of electronic and computer crime.
- Computer Crime Insurance to cover loss arising out of electronic and computer crime.
Specific proposal forms are available for the basic bankers blanket insurance as well as for the above-mentioned extensions. On receipt of the duly completed proposal forms, the Insurers will decide on competitive terms.
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Directors and Officers Liability Insurnance |
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This policy covers directors and officers (and the Company itself where it is legally permitted to indemnify its Directors and Officers) for any wrongful acts committed in their capacity as directors and officers of the Company.
The Policy is written in two sections as follows:
- The Directors and Officers Liability Section indemnifies the Directors and Officers in respect of any “Wrongful Act” committed in their capacity as Directors and Officers of the Company, where the company is not permitted (either legally or by its articles of Association) to reimburse them.
- The company reimbursement section covers the Company only in respect of any reimbursement that it is required, or permitted by law to make to its directors and officers against whom a legal action has been sought
A specific proposal form has to be completed before obtaining a quote from the Insurers.
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Decennial Liability Insurance |
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This cover is usually considered as a continuation of a Contractors All Risks Cover. The cover period is usually 10 years. Policy commences after the completion of construction (after the expiry of Contractors All Risks Policy). The policy covers loss or damage to the completed structures/building (arising due to an inherent defect in the design, material or construction of the structure), which have not been discovered by the completion of the project but are discovered after handing over the structure to the principal up to a period of 10 years. Cover is very rare and not available locally and must purchased from an international market source. A specific proposal form has to be completed and returned to the insurers in order to obtain terms.
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Medical Malpractice Insurance |
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This policy covers the liability of a Medical Practitioner or a Medical Institution arising out of their negligence whilst performing their professional duties. Submission of a duly completed proposal form is required in order to obtain terms for this cover.
 This policy will indemnify the insured against the loss of or damage to the property insured arising from the dangers of fire as well as from allied perils such as storm, earthquake etc.
This policy will indemnify the insured against the loss of or damage to the property insured arising from burglary or housebreaking as defined in he policy. Cover is limited to burglary following forcible or violent entry to or exit from the premises.
Safety and Security against Fire Hazards:
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Always have the correct firefighting equipment within easy reach.
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Do not store flammable or harmful material inside the warehouse, residence, or stores.
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Daily disposal of work related waste.
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When storing materials always secure 15cm off the floor on wooden or steel shelves.
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Make sure that electrical wiring is of the correct standard and is in good condition.
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while storing leave enough space between the goods in order to facilitate movement.
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Always leave approximately one meter between the ceiling and the goods in the storage area.
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Make sure you have well constructed drainage systems to avoid flooding problems during the rainy seasons. Pay special attention to basements and the ground floor.
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Always make sure the ceiling made with chinko or Kirby are secure to avoid leakage of rain water.
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