The operation of plant machinery and equipment is potentially risky due to possible breakdown, explosion and loss / damage to property. Persons might also be injured.
We arrange for appropriate insurance covers that suit the needs of any client. Some of the common engineering insurance covers that we offer include the following:
Policy provides, indemnity in respect of unforeseen and sudden loss or damage to the specified machinery whilst at work or at rest or while being dismantled.
Policy covers sudden and unforeseen physical loss of or damage to the computer equipment, software and re-compilation of data lost or damaged. The policy also covers increased cost of working occasioned by loss of or damage to the computer equipment.
The insurance covers the risk of explosion and collapse of any boiler or pressure plant in the course of ordinary working. There is also cover for own surrounding property and also third party liability.
The insurance provides indemnity for damage to specific contract work. Indemnity is also available for construction plant / equipment, site materials, injury to employees and third party liability.
Erection All Risks Insurance provides cover against risks associated with Erection, testing and commissioning of machinery, plant and equipment during the construction stage.
Indemnity for loss resulting from interruption or interference to the business insured. The loss may be direct loss of profits during the period of interruption. Insurance cover for deterioration of goods held at a constant temperature is provided under deterioration of stock policy. The consequential loss follows breakdown of refrigeration equipment
Loss of profits following sudden accidental and unforeseen damage to machinery covered.
On survival of the Policyholder up to :
100% of the sum assured plus accrued bonus (simple reversionary bonus).
The benefits are payable as a lump sum or in form of an annuity payable in installments, as specified by the life assured e.g. monthly, quarterly, half-yearly or yearly, the first payment is payable at the end of the term of the policy.
On payment of additional premium, the following rider benefits are available;
On total and permanent disability due to an accident, an amount equal to the basic sum. assured will become payable in equal monthly installments over a period of 24 months from the date of the accident. The disability referred to must be such that there is neither then or at any time thereafter any work, occupation or profession that the life assured can do to earn or obtain wages, compensation or profit.
On death, due to an accident, an amount equal to the basic sum assured will become payable. This is in addition to the main benefit.
All future premiums will be waived following total permanent disability due to accident or illness.
In case of an accident leading to the injury and hospitalisation of the life assured, the in-patient medical expenses incurred will be reimbursed subject to a maximum of 60% of the policy sum assured but not exceeding Kes. 500,000/-.
In the event of the first diagnosis of a specified critical illness, an amount equal to 30% of the sum assured is payable to the life assured up to a maximum of Kes. 300,000. Includes: Cancer, Stroke, Heart Attack, Kidney Failure, Paraplegia or Paralysis, Coronary, Artery Disease, Major Organ Transplant, e.g. Kidney transplant.
In the event of loss of employment due to adverse business conditions e.g. introduction of new technology or re-organization of the business by the employer, future premiums will be waived off up to a maximum of 6 monthly installments. This will cease if the assured secures employment before the end of 6 months.
The policy will acquire paid up and surrender values after payment of at least 3 full years’ premium.
Loans will also be available within the surrender value of the policy.
By law, a 15% insurance relief will be granted to the policyholder up to a maximum of Kes. 5,000 p.m. (Kes. 60,000 p.a.).
If you are interested in learning how much this insurance product would cost you, or if you are interested in purchasing this insurance product, please click Get Cover.
If you would like further explanation or assistance about this insurance product, please click Need Assistance.
Download forms will give you access to any relevant documents for this insurance product, such as the claim form, proposal form, etc.
