Classes of Insurance covered:
- Fire and Allied Perils
- Business Interruption
- All Risks
- Electronic Equipment
- Plate Glass
- Goods in Transit
- GPA / WIBA
- Political Violence
FIRE & ALLIED PERILS
The basic cover responds to loss or damage to property caused by Fire, Lightning and explosion
and is extended to include Riot, Strike, malicious damage, storm, earthquake, flood, and water damage due to bursting or overflowing water tanks apparatus and pipes.
Property covered includes:
- Buildings, Furniture, fixtures and fittings, Plant and machinery, Stock and the like.
- Earthquake Claims Excess: 2% each & every loss maximum Kshs 5,000,000
Maximum sum insured – Kshs. 300 Million.
This form of insurance is also known as Fire consequential loss. The Policy responds to consequential losses arising from risks covered under fire and allied perils section. Examples of such consequential losses include Loss of profit, rent, wages or increase or additional expenses in the cost of working within a given period.
Maximum Sum Insured – Kshs. 300 Million
Time Excess: 7 Days
Theft of insured property by any person or persons using violent and forcible means of entry into or exit from the premises where such property is kept, without permission from the owner, person or persons to whom such property is leglly entrusted or keeping on behalf.
This section extends to cover the insured against losses occurring without forcible or violent entry or exit from Insured premises. Covered Furniture, Plants & Machinery, Office Equipment’s Stock of trade
Excess = 10% each and every loss minimum Kshs 10,000/= with forcible and violent entry/exit
10% each and every loss minimum Kshs 25,000/= without forcible and violent entry/exit
ELECTRONIC EQUIPMENT INSURANCE
The section of the policy covers:-
Section 1 – Material Damage
Accidental physical loss or damage to electronic equipment due to fire, theft, electrical derangement or any other sudden and unforeseeable damage to the equipment not otherwise excluded in the policy.
Section 2 – Reinstatement of data
Reinstatement of data and storage media for data caused by a defined event or circumstances covered under the material damage section above.
Section 3 – Increased Cost of Working
The additional expenditure necessarily and reasonably incurred by the Insured including costs and expenses for hire of alternative equipment following loss or damage to the electronic equipment covered under the material damage section above
Excess = 10% each and every loss minimum 10,000/=
ALL RISKS INSURANCE
Provides cover against accidental physical loss or damage to specified items as a result of any cause which is not specifically excluded from the policy. This includes theft, fire and accidental damage including riot and strike. It is important that the insured lists the items covered and their respective values / sum insured.
Excess = 10% each & every loss minimum 10,000/=
MONEY this section Covers loss of money as stated on the table below: Excess= 10% each & every loss min Kshs. 10,000.
|1.||Money/wages in transit anywhere in Kenya|
|2.||Money in premises during working hours|
|3.||Money in locked safe out of business hours|
|4.||Money in locked drawers during & out of business hours|
|5.||Cash with senior or authorised employees|
|6.||NHIF, Service charge and Franking Machine Stamps|
|7.||Damage to Safe/Strong Room|
|8.||Estimated Annual Carry|
This section covers for accidental loss or damage to plate glass up to the insurance value. Cover can be arranged for cabinet glass, display glass, signs and neon’s, fixed glass and glass partitions on the premises.
Excess = 10% each & every loss minimum 10,000
GOODS IN TRANSIT
The section covers loss of or damage to property and/or goods caused by fire, theft or accidental means whilst in transit by road, rail or inland waterways. Cover extends to include temporarily storages or housing of the vehicle in the ordinary course of transit within the territorial limits.
Excess = 10% each & every loss minimum 10,000/=
This section covers Acts of Terrorism, Sabotage, Riots, Strikes and Civil Commotion, Civil War, Malicious Damage, Insurrection, Revolution or Rebellion, Mutiny, Coup d’état or any other damage or losses caused by acts of political violence.
Maximum sum insured – Kshs. 300 Million
Excess: Kshs 250,000
GROUP PERSONAL ACCIDENT (GPA) & WORK INJURY BENEFITS ACT (WIBA)
This is a special cover that combines the benefits payable to employees under the Group Personal accident policy and that of the work injury risks as provided under the Work Injury Benefits Act in the Kenyan laws
Work Injury Benefit Act (WIBA) is an employee benefits cover that lifts the employer’s financial obligation under the Work Injury Benefit Act to compensate employees injured out of and in the course of employment. The insurance cover includes:-
- Loss of Life and Disability
- Cost of Medical Care
- Cost of Rehabilitation
- Cost of Wages for the injured employee
- Benefits to dependants of employees that have lost life due to work related accidents.
Group Personal Accident (GPA) insurance covers employees against accidental loss of life or disability arising out of accident whilst on duty or pleasure on a 24 hours basis. The benefits provided for both WIBA and GPA are outlined as follows:-
- Accidental Death – 8 Years Earnings
- Permanent Total Disablement (PTD) – 8 Years Earnings subject to continental scale
- Temporary Total Disablement (TTD) – Weekly Earnings up to a maximum of 104 weeks
- Medical expenses Kshs 100,000/- per person
- Funeral expenses Kshs 30,000/=per deceased employee
- Occupational diseases up to a maximum of Kshs 4,000,000
Please Note: “The benefits payable under WIBA and Occupational diseases is based on the provision of Work Injury Benefits Act, Chapter 13 of 2007 Laws of Kenya”.
Excess = 5,000 each & every claim apart from funeral expenses
Schedule of Employees / Positions covered
Please Note: The insured has the option to increase the limit of medical expenses indicated above