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Fire Material Damage:

This type of insurance covers the insured property against loss or damage to property insured caused by fire, lightning and explosion of gas used for domestic purposes. The property in question can be in the form of buildings, machinery, stock, furniture and other similar items. For an additional premium, the policy can be extended to cover special perils like earthquake, explosion, floods, riot and strike, storm and malicious damage.

Fire Consequential loss:

In addition to the material damage loss caused by fire, there are losses to commercial firms resulting from interruption, destruction of business activities. Consequential loss insurance can remedy this situation by paying for the loss of net profit, charges like rent, rates, taxes and wages, additional cost of working on the rehabilitation of building, machinery and auditors fees for information needed to support a claim.

Burglary:

This insurance covers risk such as larceny, house breaking and theft either in private dwellings or business premises. It protects the insured against loss or damage to property by theft accompanied by visible, forcible and violent entry into or exit from the premises. Damage to the premises as a result of visible, forcible and violent entry into or out of the premises or attempt thereat with intent to commit theft is also covered.

Domestic Package:

This insurance applies to residential property including household goods and personal effects of the insured and members of his family. The policy covers loss or damage to property insured by fire, lightning, explosion, riot and strike, aircraft and other aerial devices, bursting or overflowing of water tanks and pipes and impact with the building, storm, floods etc. In addition, the policy has a personalized liability section which covers domestic servants against accidental injuries, occupational diseases while at work and owners liability to the general public including visitors.

 All Risks:

This is the widest form of property cover available in the market. This covers various items of value (household or office) against accidental loss, damage or destruction from any cause which is not specifically excluded by the policy.

Fidelity Guarantee:

This policy protects the insured against financial loss suffered as a result of forgery, embezzlement, dishonesty or fraudulent activities by the employees in the course of their employment. This relates to employees who directly handle money and / or stock e.g. accountants, pharmacists, storekeepers etc.

Money:

This insurance covers loss of money in transit from and / or to the bank, on premises during and outside business hours and in the custody of named senior employees of the insured. Damage to safe and strong room caused by theft or attempt thereat is also covered.

Goods in Transit:

This insurance protects goods in transit against fire, theft and loss consequent upon collision or overturning of the conveying vehicle.

Motor

There are three types of covers offered in the market:

Third Party Only:

This is the minimum requirement by legislation and covers the insured against legal liabilities to third parties (both injuries and property damage). Damage to or theft of the insured vehicle is not covered.

Third Party Fire & Theft:

In addition to what the third party only covers, it extends to cover the insured vehicle against the risk of fire and theft only. Accidental damage to the vehicle is not covered.

Comprehensive:

This policy in addition to what third party fire & theft policy covers, it extends to cover accidental damage / collision to the motor vehicle. However, riots & strike and passenger legal liability for commercial vehicles are not included but can be included upon payment of an additional premium.

Plate Glass:

This type of insurance provides cover for glass and panes in both private and commercial premises against damage and destruction by any accident e.g. theft, impact etc. The broken glass can be replaced on sum equivalent to the value paid by the insurance company.

Marine Cargo:

This insurance caters for losses incurred by importers and exporters of goods which are transported by sea. The policy covers the consignment from the port of loading to the port of discharge against marine risks like theft, jettisoning, sinking, water damage, war etc.

Electronic Equipment:

This covers loss or damage to the electronic equipment e.g. computers, printers, X-ray machines etc, loss of external data and the cost of using alternative equipments in the event of mechanical breakdown. The policy is also extended to cover theft, strike, riots and earthquakes.

Group Personal Accident:

This policy provides cover for compensation being paid in the event of death or disablement of the insured person arising out of injuries from accidental, violent, visible and external means. A capital sum is payable for death with lesser sums for loss of legs, arms, eyes and a weekly benefit for a specified period for medical expenses incurred as a result of the accident up to a specified limit. This cover is a 24 hour cover usually taken by employer to cover employees.

Medical & Health:

This insurance provides cover for the cost of outpatient and inpatient expenses including ambulatory charges that may be incurred by the insured member from illness and bodily injury.

Public Liability:

This insurance provides cover for compensation which the insured shall be legally liable to pay for death, injury or damage to third parties (general public). It also pays for legal costs arising from accidents occurring within the insured’s premises including out of station activities.

Professional Indemnity:

This insurance provides cover for compensation against legal liability to third parties arising out of breach of professional duty through negligence, error and omissions by the insured or any employee of the insured in the performance of their duties. This is ideal for hospitals, Law firms, Architects, Quantity Surveyor’s  etc.

Construction Insurance:

A variety of tailor made insurance covers for contractors while undertaking construction work on site or undertaking erection projects. Examples of such policies include;

Contractor’s All Risks

Erection All Risks

Performance Bonds

Bid Bonds

 Political & Terrorism Risk Insurance:

This insurance covers acts of terrorism, sabotage, riots, strikes, malicious damage, insurrection, coup d’etat and mutiny.

Immigration Bonds:

These bonds are normally issued to the Immigration Department for processing of work permits, including those for self employed non-kenyan residents to facilitate stay in Kenya or for dependants who are not Kenyan nationals.

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