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Business Liability - Benefits
A- Property All Risk as per LM7 Wording including:
Additional assets: providing cover for damage to works of art, tapestry, business books, clothing, personal effects and more AED 5,000 per item and AED 25,000 per event and in the aggregate
Architects, surveyor's and engineer's fees: 10% of property sum insured up to AED 100,000/-
Fire protection costs: 10% of property sum insured up to AED 75,000/-
Debris removal: 10% of property sum insured up to AED 100,000/-
All other contents clause: up to AED 20,000/- AOC & AAG excluding cash, jewelry and valuables.
Strike, Riots and civil Commotion: included
Temporary removal: Up to AED 100,000/-
Capital additions: limit of 10% of the location sum Insured Up to AED 100,000/-
Workmen's clause: Up to AED 15,000/-
Burglary by forcible entry: included
Locks and keys: Up to AED 2,500 following burglary by forcible entry.
Public authorities: Up to AED 100,000/-
Sprinkler leakage: Up to AED 50,000/-
Impact damage by own vehicles: Up to AED 50,000/-
Trace and access: Up to AED 10,000/-
Loss minimization expenses: Up to AED 50,000/-
Expediting expenses: Up to AED 25,000/-
Temporary repairs: Up to AED 35,000
72 hours clause: included
Automatic Reinstatement of Sum Insured: subject to declaration and pro-rata premium.
Claims Preparation Costs: up to AED 15,000/-
Deterioration of stock following machinery breakdown: limited to AED 100,000/-
Machinery breakdown: following fire only
Payment on Account: 50% Of Sum Insured subject to loss adjusters recommendation.
Fire brigade and extinguishing expenses: 10% of claim amount up to a maximum of AED 100,000/-
Property in the open: covered under Fire and lightning only unless designed to operate in the open. (as per LM7 cover i.e. buildings, structures and plants )
Breakage of fixed glass or sign board: included
Portable Electronic Equipment
Cover includes portable Electronic Equipment declared under contents SI as follows :
Within the premises up to full declared value
Outside the premises insured (within the UAE) subject to a sub-limit of AED.25, 000 per item & in the aggregate.
Deductible:
Category 1: AED 500.- EEL
Category 2: AED 1,000.- EEL
First three days for business Interruption
B- Third Party Liability Covers:
Public Liability: included
Tenant's Liability: included
First Aid Facilities (first aid treatment): included
Neon & advertising signs: included
Outdoor antennas/satellite dish: for fire and lightning
Ownership of passengers lifts or elevators: included
Accidental and Sudden Pollution: included
Liability arising from bursting of boilers or pressure vessels: included
Neighbor's Liability: included
Claims Preparation Costs: up to AED 15,000/-
Cancellation Clause: - 30 Days
Defective sanitary arrangement, water pollution, chemicals effluent fumes or other noxious gas, liquid or substance due to sudden and unforeseen incident: included
Bursting of pipes and overflowing of water tanks: up to AED 100,000/-
Errors and omission clause: up to AED 25,000/-
Including Liability arising out of Fire & Explosion: included
Cross Liability: included
Primary Insurance Clause: included
Waiver of Subrogation: included
Food Poisoning: included (for restaurants and cafes only)
Premises risk only: included
Work away risk: not included (to be referred back)
Delivery Risk: Limited to AED 250,000/- (Deliveries are done by motorcycles or sometimes by car)
Deductible:
AED 1,000/- EEL in respect of third party property damage
C- Workmen's Compensation:
Medical Expenses: up to a limit of AED 35,000.- per person per year
Repatriation Expenses: AED 35,000.- anyone person including cost of accompanying person
Employer's Liability: Up to AED. 3,672,500.- AOO/ aggregate
Employee to Employee: Liability while in course of employment only
Extended to Cover 24 Hours: Non-Occupational Personal Accident cover Extension (Accidental Death and Permanent Total Disability only)
Sun Stroke and Hernia as Industrial Disease: included
Insured's employees whilst on flights and/or commuting from/to country of work provided they are not part of the flight as aircraft crew: included
New employees on employment visas whilst on incoming flights from their country of origin to country of work: included
Employees on temporary hire for whom the insured is responsible and on the insured's payroll but not under their sponsorship provided all the legal formalities are finalized prior to start of work: included
Automatic addition and deletion subject to premium adjustment at expiry: included
Cancelation clause: 30 days
Funeral Expenses: for a limit of AED 5,000 per person, only when repatriation is not possible
D- Fidelity Guaranty:
Discovery Period 3 month from date of loss (loss occurring during the policy period): included
Employee dishonesty: included
Limit chosen is per person: included
Mysterious disappearance: not included
Coverages:Maximum Limit Per Employee/Aggregate : AED 200,000.- with below Options:
Option 1: AED 25,000.-
Option 2: AED 50,000.-
Option 3: AED 100,000.-
Option 4: AED 150,000.-
Option 5: AED 200,000.-
E- Money Insurance:
Cash in premises during business hours: up to full limit
Cash in locked safe out of business hours: up to full limit
Cash in transit (Single carrying Limit): up to full limit
Estimated Annual Carryings: Up to AED 5,000,000/-
Cover for damage to Insured's Safe due to theft or attempted theft: Limit: AED 5,000/- per occurrence
Keys Clause: Cover under this insurance includes reasonable expenses incurred necessarily in replacing locks to the safe or strong room for which the Insured is responsible consequent upon the loss of keys from the premises or from the residence of any employees of the Insured who are authorized to keep custody of the keys
Hold-up cover: included
Personal Assault extension - limit: AED 7,500/- per employee
Automatic addition of location clause in the policy subject to declaration on a monthly basis: location limit up to AED 10,000/- for money in premise at additional premium
Money in locked drawer after office hours: limited to AED 5,000/-
Portable equipment's in transit : up to AED 25,000/-
Mysterious disappearance: excluded
Coverages:Maximum Limit Per Employee/Aggregate : AED 200,000.- with below Options:
Option 1: AED 25,000.-
Option 2: AED 50,000.-
Option 3: AED 100,000.-
Option 4: AED 150,000.-
Option 5: AED 200,000.-
Subjectivities:
The insured premises are constructed 100% from Reinforced Cement Concrete (RCC) or 100% of bricks/tile/concrete
Nil Claims for the past 4 years
The insured has never had a proposal for insurance declined by an insurance company
The location/s being insured is not occupied for manufacturing or as a warehouse
Risks with previous history of claims should always be reported to AIAW for review and approval
CDC & AMC are Mandatory for Restaurants only “Annual Maintenance contract for cleaning Kitchen, Hood, and chimneys”
Annual Turnover should not exceed AED 36,000,000/-
Detailed inventory of all Electronic Equipment's including values and serial numbers is required prior binding cover for values above AED 25,000/-
Quotes issued are valid for 30 days from issuance date