General Insurance
With the big leap in the field of industry and commerce nowadays it's imperative to have means that grant full protection and peace of mind to factories, institutes and other businesses, along with other measurements that guaranty compensation for losses resulting of dangers facing homes and properties caused by fire or other harms.
And that's what the Islamic Insurance Company seeks though these coverage plans presented:
Fire and Burglary Insurance:
Fire Insurance:
This insurance covers any damages result from Fire, Lightning, Explosion or Spontaneous Combustion This policy could be extended to cover any according to the following customer requirements such as :
1. Broad explosion including boiler explosion.
2. Earthquake, Storm tempest, Flood, Volcanic Eruption.
3. Impact by land vehicles.
4. Aircraft & any articles dropped there from.
5. Burst out and overflow of water pipes, tanks and apparatus.
6. Business Interruption.
7. Debris Removal.
- This insurance is useful for factories, houses and offices
- The net premium depend on the risk, the place , and the total sum insured.
Burglary Insurance:
This Insurance Policy broadly covers loss and/or damage of properties due to Burglary following upon actual,
forcible and violent entry of and/or exit from the premises including hold-up risk and damage caused to premises.
It can cover machinery, stocks, furniture, fixtures and fittings including business/office equipment and other
valuables and goods in trust and money in safe and/or commissions for which the insured is responsible.
Personal Accident Insurance:
provide protection against Bodily
Injury or Death due to
external and accidental accident, and the covers are:
• Accidental death.
• Permanent total disability due to Accident.
• Permanent partial disability due to Accident.
Cover may extend to :
• Accidental medical expenses per person.
• Monthly salary.
Public Liability insurance:
This policy will indemnify the Insured against all sums which the Insured shall become legally liable to pay in respect of:
a) Accidental bodily injury to any person (not being either a member of the Insured’s family or a person engaged in and upon the service of the Insured at the time of the occurrence giving rise to such injury).
b) Accidental direct damage to property (not being property belonging to or in the custody or under the control of the Insured of any person in the service of the Insured or upon which the Insured or any such person is or has been operating).
Money Insurance:
provide protection against any loss of Money belonging to the insured or for which the insured is responsible in the circumstances and situation as mentioned in the policy schedule.
Fidelity Guarantee Insurance:
provide protection against direct loss to money and contents which result from Forgery, Or Embezzlement, Larceny And/Or Fraudulent Conversion” and caused by the employees which their names mentioned in the policy schedule .
Cash In Transit
:
The Cover is available for the loss of Cash drawn for the payment of wages,salaries and other earnings or for petty Cash in direct transit from the Bank to the Insured’s premises
Risk starts from the time the Cash is received at the Bank by the Insured or the authorized employee of the Insured as detailed in the Policy until delivered at the premises or other place of disbursement (declared with the Insurer) and until there paid out and vice versa.
This policy is useful for any an employer have frequent money transfer.
Household Insurance
:
This insurance covers the loss of
property due to:
• Fire, Lightning, Explosion .
• Theft
Cover may extend to :
• Earthquake
• Impact by vehicles .
• Fell of arial devices
• Escape of water or bursting of any tank, apparatus or pipes.
• Storm, Tempest, Flood .
• Liability to the public.
Bankers Blanket Bond
:
It is an Insurance policy, designated for financial institutions (banks in particular), providing coverage against acts of treason by the staff, and the loss of money, whether within the offices of the Insured or during the process of transferring this money, or loss resulting from fraud and currency counterfeiting and other brain.
It is possible to modify this policy to suit the needs of the bank or the financial institutions.