SPECIALIST IN FINANCIAL SERVICE

Financial Security & Peace
Of Mind For Your Business

Comprehensive cover can be arranged for Loss of or damage to specified property by any accident or misfortune in your business. We have expertise and we specialize in the Engineering space, Liability insurance, Marine and Transportation insurance

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    Engineering Insurance

    We have comprehensive knowledge in this field and detailed products to meet both your needs and your client’s needs. Some of the specialized products we offer include Contract Works Insurance, Plant All Risk Insurance, Deterioration of stock, Erection all risk, Machinery breakdown, Loss of Profit.

    Once-off Contractors All Risk

    Once-off Contractors All Risk provides comprehensive cover for a specific project that your company undertakes over a specified period. Plant All Risks is not available for this type of policy.

    Annual Contractors All Risk

    Annual Contractors All Risk provides comprehensive cover for all projects that your company undertakes over the 12 month period. Under this policy you can also get Plant All Risk cover for your own Plant and the Plant that you Hire-in for the duration of the cover. This policy is more economical than a series of once-off policies, particularly if awarded small contracts that are below the once-off minimum premium. Further, it also provides seamless cover for all your projects over the period, without having to deal with constant admin.

    CAR Contracts

    CAR contracts exclude cover for risks such as defects due to wear and tear, obsolescence (outmodedness or oldness), rust & mildew, loss and damage arising out of war, nuclear disasters, political upheaval, and for faulty workmanship or faulty design. Cover for faulty workmanship, faulty design and errors & omissions are more specifically insured under Design & Construct Professional Indemnity Policies.

    Liability Insurance

    Competitive cover can be arranged for all types of liability insurance such as product guarantee, liability for security companies and Professional Indemnity cover for professionals like Engineers, Accountants, Doctors and financial advisors

    Construction Liability

    Construction Liability provides non-cancellable Broad Form Liability insurance for Construction Projects providing indemnity for the legal liabilities of the Employer, Contractor, Sub Contractors as well as Consultants for their on-site construction activities. Cover can extend to include Lateral Support when required.

    General Liability

    Third Party General Liability provides cover to the contactor for their legal liability for damage to the property of others or for the bodily injury to a member of the public whilst carrying out the activities of the business described in the schedule of insurance arising out of their works, excluding personal injury where covered by Workman’s compensation.

    Third Party Terms

    The Third Party General Liability policy does not, however, provide cover for damage to the works itself. The policy may provide cover for works that have been handed over but this would depend on the Insurance arrangements made for the handed over property

    Bonds and Construction Guarantees

    We facilitate issuance of the all types of Guarantees i.e Performance bonds, Retention bonds, Advance payment guarantees, Bid / Tender bonds

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    Construction Guarantee

    As a Contractor in the Construction Industry you are required to provide various forms of Guarantees usually when awarded with a contract. The purpose of any of the Guarantees is to provide the Employer (beneficiary of the Guarantee) with security in the event of default or non-performance by you

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    Retention bond

    This is probably the most common form of Guarantee, which protects the Employer / Principal against the risk of the contractor failing to perform or comply with the conditions of the contract. The principle purpose is to cover the Employer for the increased cost of completion as a result of the non-performance of the Contractor. Traditionally, the Guarantee amount is equal to 10% of the contract sum.

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    Performance Guarantee

    This is probably the most common form of Guarantee, which protects the Employer / Principal against the risk of the contractor failing to perform or comply with the conditions of the contract. The principle purpose is to cover the Employer for the increased cost of completion as a result of the non-performance of the contractor. Traditionally, the Guarantee amount is equal to 10% of the contract sum.

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    Advance Payment Guarantee

    Some contracts make provision for Employers to pre-finance a contractor by making payments before commencement of the contract. The Employer secures such a risk by requiring an advance payment guarantee / bond in return. Usually, the guaranteed amount will decrease in accordance with the percentage of the work certified. A portion of the funds retained is paid out at the end of the construction period and the balance at the end of the maintenance (defects liability) period. It has been shown that funds that are released with a Guarantee / Bond significantly enhance working Capital.

    Health Care Insurance

    We can refer the best insurance that focuses on the basic health care needs that include a range of primary healthcare and hospitalization benefits. Cover will include GP consultations, Entomology, ambulance services, hospitalization, dentistry etc

    Goods In Transit

    Cover for accidental loss of or damage to the insured property in transit by any cause. This cover can be arranged on a standalone or bundled with commercial policy. Advantages and disadvantages can be discussed with any of our expert advisors.

    Gap Cover

    Cover can be arranged for charges levied by medical services for associated services like chemotherapy and radiotherapy. This cover provides extra protection for those with medical aid covering the deficit between medical schemes and actual rates charged by private healthcare professionals.

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