GENERAL ACCIDENT

Goods-In-Transit Insurance

It indemnifies the insured for the loss or damage by any accident or misfortune whilst in the course of loading in the ordinary course of transit subject to the policy terms, conditions and exceptions.

However, a restricted cover can be granted to cover:

  • Loss by fire
  • Loss by accidental collision, impact or overturning of the conveying vehicle.
  • Loss by theft following accidental collision or overturning of the carrying vehicle conveyance.

It is inevitable that a fire or other damage in business premises will lead to a partial or total disruption in production, sales or whatever activity that is carried on. As a result, the turnover and earning capacity of a business are diminished. This is the subject matter of a Consequential Loss Insurance.

This policy protects the earning capacity of a business and supplements any trading maintained after (or other insured damage), to enable all the overheads of the business which do not reduce proportionately with trading to be met. It also enables the business to achieve the level of net profit which would have been earned but for the fire.

It provides for payment of a certain specified sums in the event of accident to the insured persons.

  1. Death: A capital sum payable (provided death occurs within 12 months of the date of the accident) to the legal personal representative of the deceased or to the insured or principal who effected on the life of the deceased.
  2. Permanent Disablement: Regarding total paralysis or injuries resulting in being permanently bedridden any other injury causing total disablement.
  3. Medical Expenses: Reimbursement up to the amount specified in respect of reasonable medical, surgical, hospital nursing home fees or charges necessarily incurred within twelve (12) months of the date of the accident. The medical expenses limit to be covered is to be selected by yourselves.

The Workmen’s Compensation Decree 1987 provides that employers must pay full compensation to all employees injured in the course of their employment (Occupational Accident). Benefits are significantly high and therefore a lot of financial outlay is required in the absence of insurance. This policy covers your liabilities to pay such compensation to all employees.

  1. Personal Effects: This policy can be taken out on particularly expensive items such as jewellery, cameras, and can also be arranged on unspecified goods for a lump sum. The twin objectives of the policy is to provide cover for a whole range of accidental loss or damage, and to do so wherever the goods are at the time of loss.
  2. Business All Risks: The policy can be taken to cover small machines; often desktop and laptop equipment dropped or otherwise damaged. These types of equipment are also highly portable and may regularly leave the main business premises, e.g. laptops.