Liability Insurance

Professional Indemnity Insurance (PII), a form of liability insurance that helps to protect professional advice and service providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm.

A Professional Indemnity insurance policy covers against:

• Financial loss suffered by a third party
• Loss of documents
• Dishonesty of employees
• Legal costs incurred defending a claim against you
• Alleged breaches of the Trade practices Act

Commercial general liability (CGL) is a type of insurance policy that provides coverage to a business for bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that occur on the business’s premises. Commercial general liability is considered comprehensive business insurance, though it does not cover all risks a business may face.

Employers' liability insurance is an insurance policy that handles claims from workers who have suffered a job-related injury or illness not covered by workers' compensation. It can be packaged with workers' compensation to further protect companies against the costs associated with workplace injuries, illnesses, and deaths

Cash In Transit is an All Risks policy covering money, up to the insured’s given limits, including;

• In transit to or from bank
• In insured’s premises outside safe/strong during office hours
• In the insured’s premises in locked safe/strong room after office hours
• In the insured’s residence or partner
• In the hands of authorized official e.g salesmen, directors, messengers
• Loss or damage to safe

Covers loss or damage to the Insured’s property as a result of theft or attempted theft following a forcible or violent entry to or exit from the premises including armed robbery/hold up.

Plate glass insurance is insurance coverage against accidental damage to or breakage of large panes of glass on the building.

A consequential loss is an indirect adverse impact caused by damage to business property or equipment. Business owners routinely obtain casualty insurance to cover any damage to their facilities or equipment caused by theft, fire, flood, or other natural disasters. These direct coverage policies do not compensate the owner for income that is lost due to the business' inability to use that property or equipment. Business interruption insurance, also known as business income insurance, covers consequential losses. These policies compensate a business for loss of revenue after a catastrophic event regardless of physical damage to the property or equipment.

Product liability refers to a manufacturer or seller being held liable for placing a defective product into the hands of a consumer. Responsibility for a product defect that causes injury lies with all sellers of the product who are in the distribution chain. Liability for a product defect could rest with any party in the product's chain of distribution, such as:

• The product manufacturer;
• A manufacturer of component parts;
• A party that assembles or installs the product;
• The wholesaler; and
• The retail store that sold the product to the consumer.

Contractors' all risks (CAR) insurance provides coverage for property damage and third-party injury or damage claims, the two primary types of risks on construction projects. Damage to property can include improper construction of structures, the damage that happens during a renovation, and damage to temporary work erected on-site. Third parties including subcontractors may also become injured while working at the construction site

The Equipment All Risks policy covers loss of or damage to the mobile equipment, its accessories and spare parts whilst attached thereon as a result of:

• Accidental collision or overturning
• Fire, external explosion, self-ignition or lightning
• Theft & Other Accidental Damage not specifically excluded

Fidelity Guarantee is an agreement whereby, for a designated sum of money, one party agrees to guarantee the loyalty and honesty of an agent, officer, or employee of an employer by promising to compensate the employer for losses incurred as a result of the disloyalty or dishonesty of such individuals.

Goods in transit insurance (GIT) covers the goods of a business against loss or damage while they are in transit from one place to another or are being stored during a journey. A business can obtain this insurance cover for goods being distributed in its own vehicle, a hired vehicle or by a third-party carrier.

A goods-in-transit policy will protect a business from:

• Theft (while in transit)
• Damage caused by accidents during transit
• Damage caused during transit
• Loss (while in transit)

This policy is designed to cover various types of boilers and pressure plants against the risk of any loss and/or damage due to explosion or collapse.