Public Liability

Professionals as well as entrepreneurs can be subjects of third party legal liability due to acts of negligence caused by the Insured, their families or employees. Such legal liabilities can turn into protracted expensive court battles, and it would be in their best interests to opt for insurance protection. Professional advice or even products that are defective, which can cause bodily injuries or death, is often the cause of the legal liability.

We at Asia Insurance Company offer Public and Product Liability Insurance protection to our customers by providing indemnity to third party due to the Legal liability of the Insured resulting from negligence of the insured or their respective employees/family members causing :-

• Accidental bodily injury and/or death
• Accidental damage to property (excluding property belonging to/in the custody of/under the control of the Insured, family members or employees

In addition, Asia Insurance provides: Legal expenses for defending any proceedings with the Insurer's consent.

Workmen Compensation

Productive Workers are an irreplaceable resource and an investment to any organisation. Providing protection for the employees is a matter not only of protecting the organisational asset but also of moral accountability. Many Governments across the world enforce providing not only proper working environments but also protection to the workers against uncertainties.

We at Asia Insurance Company offer workmen's Compensation Policy which will indemnify your Company against all sums for which your company will be liable to pay compensation to any employee in your immediate service due to accident arising out of and in the course of his employment.

Extensions to this insurance are

• Medical Expenses - this provides the injured employee medical expenses benefit due to work accident up to $1,000/- per person (Higher limits can be requested at additional premium) subject to treatment being confined at private hospitals/Clinics .
• Expenses for Repatriation of deceased body following work accident up to $1,000 /- per person (Higher limits can be requested at additional premium) and 3) Employer's Liability up to $ 20,000/-Any One Accident &/or in the aggregate.

The rate chargeable is always applied on basis on the Estimated Annual Wages of the employees, which is adjusted at the end of the policy period. This is very dependent to the nature of work, risk involved and cover/extensions requested. There is a day Deductible and further Conditions attached to this policy

In spite of the commonly used security and surveillance systems within work places, mishaps due to misuse and embezzlement of property by employees, although infrequent, are not unlikely.

Incidents of such mishaps worry a number of employers. Whilst a number of insurance policies exclude infidelity incidents by employees, the “Fidelity Guarantee insurance” is specifically designed to protect such misappropriation incidents by employees.

When opting for “fidelity guarantee insurance” employers should consider one or more of the following items :-

• Number of employees handling monies, valuable or convertibles, stock etc
• Limits being exposed to such employees
• Eligibility and legal status of such employee to the organization

We at Asia Insurance Company offer the Fidelity guarantee policy that covers any loss caused due to any act(s) of Forgery or embezzlement, larceny and/or fraudulent conversation committed by an employee in the course of their duties.

**forgery means the forging or fraudulent alteration of any document or fraudulently altered document by the employee(s) whereby he obtains possession of monies or goods of the employer.

The rate chargeable is always applied on "Per Mille" basis (for every thousand units) on the Total Aggregate limit of indemnity in addition to per capita (additional charges per employee).

Money like any other property is vulnerable to loss and damage therefore we provide the “Money Insurance” to cover such mishaps.

We at Asia Insurance Company offer “Money Insurance” which is an All Risk cover with some exclusion, that can be referred to in the policy. Essentially money would be cash, notes, cheques, and securities for money, stamps, postal and money orders.

The cover is for the said money while:

• In transit to and from premises and banks
• In safe at the premises
• Out of safe in working hours at the premises
• In the care of company’s responsible staff
• In a private dwelling of employees overnight

Under “Money Insurance” various extensions are also available that can provide a wider cover. This can be requested with the insurers discretion including:-

• Personal accident cover to employee carrying the money
• Damage to carrying employee's clothing following assault
• Out of safe out of business hours
• Extension Geographical area of cover
• Specific subject matter inclusion like "Bullion, etc"
• To provide cover for the money insurance consideration is given on the limits - the Estimated Annual Carrying, maximum limit of any one carrying and maximum limits available in the safe or premises at any given time.
• The rate chargeable is always applied on "Per Mille" basis (for every thousand units) on the Estimated annual carrying and limit of money in safe/premises. The charges are very dependant to the single carrying limit, Number of persons involved in carrying the money, location and the security measures in place. There are a number of other Conditions to refer to.

Exclusions The exclusion under the “Money Insurance” are:

• Theft by employees
• Money out of safe
• Loss from premises following use of a key unless key obtained by violence or threats thereof
• Shortages due to error or omission
• War, rebellion, usurped etc, nuclear risks
• Loss of money left in unattended vehicles

Organising events such as seminars, conferences, sporting events or even personal events such as weddings and parties can be both time consuming and expensive. Imagine if due to unknown calamity these incidents were to be cancelled, postponed or abandoned? what would happen to the investments involved in organizing such events.

It would only be reasonable to provide insurance coverage for such investments
Our “Contingency Insurance” is designed specifically to cover these prestigious occasions. It benefits the organizers in case the event is cancelled and losses are incurred. The company would indemnify for financial losses up to the Sum Insured, resulting from the event not having taken place, abandoned, interrupted, postponed,

curtained or rescheduled due to any of these causes:

• Natural Perils (including weather)
• Death of Rulers, Presidents, head of states ,Dignitaries or VIPs.

The rate chargeable is applied on the basis of the limit of indemnity and is dependent on the nature of the event, arrangements and seasons. Please refer to the conditions applicable to this policy.

Banker’s Blanket Insurance comprises a number of insuring clauses which can be availed of in whole, or be tailor-made to fit every customer’s specific needs including:

• Infidelity of Employees: Provides coverage for any loss due to misappropriation or embezzlement by the Insured's employee.
• On premises: Provides coverage for loss and/or damage to the Insured's property due to various perils including fire while inside the premises where the Insured or others carry out business (which should be clearly defined when opting for this clause).
• In-transit: Provides coverage for loss and/or damage to the Insured's property while in-transit to and from premises along the defined geographical area.
• Forgery and Alteration: Provides coverage for loss caused due to forgery or alteration (The expression forgery means the forging or fraudulent alteration of any document or the usage of any forged or fraudulently altered documents by the employee whereby he obtains possession of money or goods).
• Securities: Covers securities of the Insured (stocks, certificates, bonds and other government guaranteed authority stocks etc) while in his or others’ premises due to loss and/or damage resulting from named calamities.
• Counterfeit Currency: Provides coverage for loss resulting in the acceptance of counterfeit currency by the teller or other charged employee of the Insured, provided normal and standard procedures and precautions are fully exercised.
• Office and Contents: Provides coverage for loss and/or damage caused by fire and other perils to the office and contents of the Insured's premises which should specifically be named while opting for this coverage
• The rate chargeable is always applied on basis on the Total Sum Insured and is dependent on the scope and extent of cover opted for, security measures and housekeeping among others. Please check the Deductibles and conditions applicable to this policy.