General Insurance

Coverage is meant for transportation of goods or items by sea or air.  Marine Cargo Insurance policy provides indemnity against loss or damage for goods being transported by sea or air and incidental land transportation.  Either single voyage policies or annual policies are offered.

Types of covers available

i) Institute Cargo Clauses “A”

These covers offer wide coverage and are similar to an All Risks cover.  Because of this, it is also expensive.  Rating should always be obtained from the Marine Department

ii) Institute Cargo clauses “B”

This is a more restrictive cover and essentially covers total loss only including loss of a complete package during discharge or as a result of water damage.  It is cheaper than Institute Cargo Clauses “A”

iii) Institute Cargo Clauses “C”

This is a total loss only cover.  The entire shipment must be lost for a claim to be paid under these clauses.  It is also the cheapest in terms of premium

The Risk provides indemnity against LOSS OR DAMAGE to specified items as a result of any cause within the geographical area specified in the policy.  This includes theft, fire, riot and strike breakage and any other cause not excluded under the policy.

The Burglary policy provides indemnity against loss or damage to property following forcible or violent entry or exit from insured premises.  Assets such as office equipment, stock in trade, furniture fixtures and fittings.

This policy provides coverage to your electronic equipment including computers against sudden and unforeseen physical damage to the equipment in a manner necessitating repair or replacement. Electronic equipment constitutes all electrical equipment that consumes low electrical current. The cover includes mechanical or electrical breakdown, faulty material, faulty design, lightning and over voltages.

This form of insurance is also known as Business Interruption. It is concerned with paying for the consequences of a material damage loss. When the property is used for business purposes, the trader due to damage looses his productive capacity or future earning power which is of paramount importance to him.  The normal business activities may even cease or be curtailed drastically and the gross profit reduced or eliminated.

The Con-Loss Insurance, therefore, enables the Insured to recover gross profit due to a reduction in turnover and reasonable additional expenditure incurred in minimizing the reduction in turnover.

Scope of cover

Loss of profits following business interruption by fire and or other perils insured under the fire policy

Consequential Loss (Engineering)

Scope of cover

Loss of profits following business interruption by breakdown of Machinery insured under the Engineering Machinery Breakdown policy

The basic Fire policy provides indemnity against loss or damage to property described, caused by fire, lightning and explosion.  However, the policy can also be extended to cover riots, strike, malicious damage, storm, earthquake, impact by vehicles, aircraft and other aerial devices, subterranean fire, spontaneous combustion, explosion of industrial boilers and economizers, flooding, water damage due to bursting or overflowing of water tanks, apparatus, and pipes.

This insurance covers assets such as buildings, plant and machinery, stock insurance, furniture fixtures and fittings and office equipment.

This policy provides cover for loss or damage to various types of goods while in transit by road, rail or any inland waterway within the geographical area set out in the policy.  The cover may be All Risks or for specified perils and may be taken for specific consignments or annually.

This is an insurance package which mainly incorporates Fire & Allied Perils, Burglary, Accidental damage and Business Interruption and it provides indemnity to the property insured against any loss or damage from any cause.

Machinery Insurance is a type of an accident insurance for machinery and provides cover against sudden and unforeseen physical loss or damage to the insured machinery. The purpose of machinery insurance is:

  • To cover the cost of repairing or replacing indemnifiable breakdown or losses to machinery
  • To give assistance in expediting repairs

The basic scope of cover:

  • Human failure: carelessness, negligence, faulty operation, lack of skill, malicious acts
  • Operational Causes: centrifugal forces, failure of control and regulating devices, physical explosion and implosion, shortage of water, overheating, impact, flue gas explosion in boilers
  • Manufacturer’s fault: Faulty design, faulty calculation, defective material and casting, bad workmanship, faults in assembly and erection.
  • Electrical causes: Faulty insulation, short circuit, over tension/excessive voltage
  • Natural Hazards: Storm, frost, water.
  • Environmental hazards: Dust, humidity, temperature.

This policy provides indemnity for damage to electronic equipment against sudden and unforeseen physical damage to the equipment in a manner necessitating repair or replacement.  This policy provides a wider scope of coverage than is available under the Computer and Electronic Equipment insurance as it includes theft and cover to specified laptops on a worldwide basis.

Accidents do happen! Approximately 11,000 people are killed in road traffic accidents each year, while another 6000 accidental deaths occur at home.  Not to forget the 800,000 violent crimes, assault and rape.  Employers and other institutions could ease the financial burden on staff, members etc caused by these incidences. Group Personal Accident cover affords compensation for death, permanent disablement, temporary loss of income due to disablement and medical expenses arising from an accident.

Accidents can lead to great financial pressures on individuals and families. This policy can be developed with adequate limits and excellent benefits to ease the financial and social worries that these accidents result in. The benefits of Death, Permanent Total Disablement, loss of Weekly Income and Medical Expenses resulting from the accident are available under this cover.

Why take up a group personal accident cover?

  • Eliminate the burden of having all your employees completed detailed proposal forms by just giving generalized information about the group you want to have insured.
  • The employees or proposed insureds do not have to undergo rigorous medical examination before cover commences.
  • Your employees are motivated as a GPA policy is a benefit to them.
  • Additional covers including funeral expenses, artificial appliances can be arranged at reasonable costs.
  • A minimum number of 5 employees will be required to effect cover.

This policy covers loss or damage to money by robbery or theft whilst:

  • In transit from your premises to the bank and vice versa
  • In your premises during business hours
  • In your premises in locked safes/strong rooms outside business hours
  • In the hand of senior employees/authorised personnel of the company
  • NHIF and service charge stamps and stamped cards and the contents of the franking machine
  • Damage to safes and /or strong rooms

This policy combines different classes of insurance in one document and is tailor-made for small cum medium size business with a sum insured up to Shs.20 million.  In all nine classes are covered and they include:

  • Fire & Perils
  • Burglary
  • Money
  • Workmen’s Injury Benefits Act (WIBA) /Employers Liability
  • Computer & Accessories
  • Employee Dishonesty
  • Public Liability
  • Group Personal Accident
  • All risks
  • Plate Glass

All the sections are renewable at the same time, have fixed terms and conditions and this eases administrative work.

The policy provides indemnity to the insured against loss and/or destruction/damage to glass by accident or misfortune of a fortuitous character.  There are options either to replace the broken glass according to description or to pay the sum equivalent to the value of the broken glass at the time of loss, destruction or breakage up to the insurance value.  Cover can be arranged for cabinet glass, display signs, fixed glass and glass partitions on premises.

This policy provides cover for all stocks against loss or damage by fire & Allied perils and theft whilst stored in the insureds owned or leased premises or in transit anywhere in Kenya.

Public / Products Liability Insurance

Public/Products Insurance provides protection against claims arising from:

  • Accidental bodily injury to any person
  • Accidental loss of or damage to property

Happening in connection with the business and occurring within the territorial limits described and happening during the period of insurance. Since the promise to indemnify is the basis of the policy, strictly speaking, Insurers are not liable to make payment until the Insured has been found “legally liable” to pay for damages.

The Domestic package insurance gives protection to the homeowners/renters against loss or damage to the private dwellings/buildings, household goods and personal belongings against fire, theft, riot and strike, malicious damage, floods, explosion, lightning and thunderbolt.  It also offers personal liability to third parties by the insured, workmen’s compensation to domestic servants and golfer’s liability.

This policy covers any employee in the insured’s immediate service sustaining bodily injury by accident or disease caused during the period of insurance and arising out of and in the course of his employment by the insured in the business and directly related to negligence or breach of common law or statutory duty by the employer.

Today’s professionals work long and hard to develop successful businesses.  Their entrepreneurial spirit is enviable.  But there are times when what appears to be a minor mishap can erupt into a potentially devastating situation: A lawsuit.

We understand the position of these professionals. Our own entrepreneurial style is a dominant characteristic of our company. It is this understanding and our broad experience that makes us uniquely qualified to provide liability insurance to today’s professional entrepreneurs.

Contrary to popular belief, you don’t have to be wrong to be sued. Innocent targets can find defense to be an expensive proposition. Our policies cover the professional against the enormous costs of litigation as well as financial damages that may be awarded. Our experience and depth of knowledge enable us to analyse new markets and provide the kind of innovative and, when required, unique coverages expected of a leader.

Banks and other financial institutions face a higher level of exposure to financial loss resulting from criminal behaviour than most other institutions.  Employee theft, embezzlement, forgery, hold up and fraud are all real risks in today’s business environment and even more so in the financial sector. The Bankers Blanket Bond policy addresses these risks.

As the name implies this is a comprehensive crime and Fidelity package designed specifically for banks and other Financial Institutions. We deal with reputable and financially sound Underwriters.

This form of insurance is also known as Business Interruption. It is concerned with paying for the consequences of a material damage loss. When the property is used for business purposes, the trader due to damage looses his productive capacity or future earning power which is of paramount importance to him.  The normal business activities may even cease or be curtailed drastically and the gross profit reduced or eliminated.

The Con-Loss Insurance, therefore, enables the Insured to recover gross profit due to a reduction in turnover and reasonable additional expenditure incurred in minimizing the reduction in turnover

Food, drink, cosmetics, pharmaceuticals and tobacco products are susceptible to contamination, both accidental and by deliberate interference through malice for political or financial gain.  Incidents as the discovery of contaminated pharmaceutical drugs in Kenya are increasingly common and, when they occur, attract media interest, which can have a disastrous impact on the public’s confidence in the affected product.

Considerable costs can be incurred in both recalling and replacing the damaged product as well as in rebuilding public confidence.

Corporate Governance is a concept that has gained currency in today’s corporate World. Certain highly publicized cases have increased the scrutiny on managers of business enterprises as regulators and shareholders insist on lifting the corporate veil and making Directors and Officers more accountable for the actions they undertake on behalf of the organization. Failure to adequately discharge their fiduciary obligations, comply with legal requirements, or exercise reasonable care and skill in their actions as Directors may put their personal assets at risk.

DUTIES OF DIRECTORS & OFFICERS.

  • Be satisfied that the directors are in a position to make informed decisions.
  • Ensure that the directors never permit conflicts of interest and duty.
  • Ensure that the directors are informed about the financial, social and political environment in which the company operates.
  • Ensure that the directors exercise due care and skill.
  • Ensure that the directors exercise the utmost good faith.
  • Ensure that the Board papers are given to directors at least two weeks before the meeting.
  • Ensure that there is a balance of power.

WHO CAN SUE AND WHY?

  • Shareholders- Disclosure, loss of earnings
  • Employees- Wrongful dismissal, Sexual harassment
  • Customers- Monopolies Act
  • Competitors- Monopolies Act
  • Regulatory Agencies- CMA, Commissioners of Insurance, Income Tax Commissioner.
  • Government- Antitrust, Labour law, Environment laws.

UNDERWRITING INFORMATION

  • Completed Application and the latest audited financials

Evacuation and Repatriation insurance is designed to assist in lessening the sudden, unforeseen financial consequences associated with evacuating threatened personnel from countries experiencing political instability and military confrontation.  Items that present unplanned and possibly significant financial exposures include: Transportation to a place of safety, salary expenses during the period of dislocation and the cost of returning when the situation has stabilized.

Fidelity implies the faithful or loyal performance of a duty and a fidelity guarantee policy is an insurance against the results of dishonesty or disloyalty, both of which stem from a lack of fidelity. Fidelity guarantee may be bought by any organization or person who may suffer as the result of the dishonesty, failure in the loyal performance of duty or, in certain cases, the mistake of another.

The majority of policies are issued to protect the employer against direct pecuniary loss, and in many cases, also loss of stock that the employer might sustain through acts of dishonesty by the employee in the course of his employment. In the light of this exposure, Insurers may make enquiries into the systems of checks and methods of supervision and into the business and domestic history of any employee whose fidelity is to be guaranteed.

The following policies are issued:

  1. Individual Policy:

This type of policy is issued where one employee is covered by name for a stated amount.

  1. Collective Policy:

Named collective or unnamed collective

iii.                  Blanket Policy:

A form of unnamed policy which includes all employees without showing names or positions.

  1. Positions Policy:

This is usually issued for local government guarantees. Instead of using names, the “position” is guaranteed for a specified amount

The insurance provides cover against the following contingencies happening on a golf course or club premises:  golfing equipment & personal effects, personal accident, liability to the public, fire, theft, all risks, hole – in – one and medical expenses.