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Products and Services Overview

Property Insurance Policy

This Insurance will protect your property from damages caused by burglary, theft, fire or other natural calamities.

1. Fire and Allied Perils

Provides cover against loss or damage to property by:

2. Fire Business Interruptions

Provides cover against loss of profit due to reduction in turnover and increase in cost of working arising from an interruption of or interference with the business carried on by the insured at the premises following loss/destruction or damage covered under the fire police (material damage) to the property used by the insured.


3. Office Comprehensive

Provides cover as in (1) above plus:

• Theft, excluding theft of personal effects of the insured or his employees

• Accidental damage and loss/damage to office equipment and machinery whilst away from usual premises

• Loss of documents cover can also be included


4. House Owners

Provides cover to household contents. Cover is provided as in (1) above plus:

• House break - in or any attempted threat

• Theft or any attempted threat of landlord’s fixtures and fittings

• Loss of rent.


5. Householders

Provides cover to household contents. Cover is provided as in (1) above plus:

• Theft accompanied by violent and forcible entry into or exit from a building

• Accidental damage and loss to contents and effects whilst temporarily away from premises can be covers at an additional premium.


6. Electronic Equipment all Risks

Provides cover to computer equipment against any unforeseen and sudden physical loss or damage from any cause other than those specifically excluded on the policy.


Motor Insurance Policy

This type of insurance encompasses a variety of forms such as motor cars, pick ups, buses, trucks, motor cycles, trailers and caravans (to name but a few), represent a considerable investment to individuals, companies and other bodies.This policy cover:-


2. Executive Designed especially for professionals, top executive officers or diplomats and provides comprehensive cover at a favourable rate.
3. Full Third Party Fire And Theft Provides cover against: Loss of or damage caused by fire, lightening explosion, theft or attempted theft. Third party liabilities (property, death and/ or injury).
4. Third Party Only Provides cover against the third party liabilities, (property, death and/or injury) only.
5. Motor Traders – Internal and External Policies These policies cover motor vehicles, which are in the custody/ care of motor vehicles against:

Vehicles, which encompasses a variety of forms such as motor cars, pick ups, buses, trucks, motor cycles, trailers and caravans (to name but a few), represent a considerable investment to individuals, companies and other bodies. Owners of such assets can be covered in respect of loss or damage to their vehicles through collision, overturning, theft, malicious damage and other perils, and also in respect of their legal liability for injuries or losses to third parties.

Individuals and organisations can insure cars and light delivery vanettes used for their personal and business purposes. The policy can be taken out either on comprehensive basis or an reduced covers basis, depending on affordability. Commercial vehicles represent many different types of risk, the usual categories being goods carrying vehicles, passenger carrying vehicles (e.g. buses), special types like graders, excavators and ambulances and agricultural and forestry vehicles like tractors, combine harvesters and planters which are involved in selling, servicing or repairing motor vehicles, to cover risks of loss or damage to trade vehicles or customers’ vehicles whilst under their care and custody. Cover is effective whether the vehicles are on the premises or being driven on the road, say for tests. There are also many extensions which can be added including legal liabilities to the public. Due to the increased number of bus/coach travellers, bus operators are exposed to injury and baggage claims in the event of accidents, hence the recent introduction of passenger cover.

This insurance is available for those organisations which are involved in selling, servicing or repairing motor vehicles, to cover risks of loss or damage to trade vehicles or customers’ vehicles whilst under their care and custody. Cover is effective whether the vehicles are on the premises or being driven on the roads, say for tests. There are also many extensions which can be added including legal liabilities to the public. Any self propelled two wheelers or three wheelers including mopeds can be covered by the Corporation using a motor insurance policy


Engineering Insurance Policy

The rapid industrialization of our country has led to increasing use of machines in industry. Though use of machinery results in increased production capacities, in the event of accident and breakdowns, they can be potential sources of financial loss and could even result in the closure of business.
1.Contractors all Risks Provides cover to all civil engineering works against:-



2. Plant all Risks, provides cover to plant against any unforeseen and sudden physical loss or damage from any cause not specifically excluded.

3. Erection all Risks Provides cover to individual machines, complete manufacturing complexes and steel structures which are being erected against unforeseen and sudden physical loss or damage resulting from:-



4. Machinery Breakdown Covers any sudden and unforeseen physical loss or damage other than fire damage to machinery whilst in the premises, whether they are at work or at rest from causes not so specifically excluded.

5. Loss of Profits Following Machinery Breakdown. Provides cover to the insured (client) against financial loss following a claim under machinery breakdown. The coverage is cantered on the reduction in turnover resulting from decreases production or other impairment of business operations caused by an accident to machinery.

6. Boiler and Pressure Vessel Provides cover against:-

7. Deterioration of Stock Provides cover over against loss or damage to stock caused by deterioration due to any unforeseen and sudden physical loss of or damage to machinery and physical loss of or damage to machinery and indemnfiable under machinery breakdown policy in force or due to failure of the public power supply resulting in a rise or a drop in temperature or sudden and unforeseen escaping of refrigerant in the cold storage facilities.

8. Terrorism and Sabotage Provides cover against loss or damage to property resulting from: Terrorism, sabotage, muting, insurrection, rebellion, coup, d’Etat, strike riot and/or civil commotion and any ensuring fire damage from looting, other damages caused by an act of lawfully constituted authority for the purpose of suppressing or minimising the consequences of any of these incidents.

9. Compak This policy is issued to individuals to cover the following up to stated limits/sums insured:


Agriculture Insurance

Agriculture Insurance.

We cover you as follows;

Crops

Loss or damage to the potential yield due to Drought, Malicious Damage, Hail Stones, Fire, Windstorm and Flood.

Though this can be extended to degredation as a result of early of early rains and frost damage in respect of winter Wheat and Barley.

Livestock (All Risks of Mortality)

Loss of animal(s) during the period of insurance at the location specified due to:

Accidents

Emergency Slaughter of the animals on grounds of necessity on the advice of qualified veteritarian surgeon as a result of accidents, illness, disease or epidemics.

Subject to standard warranties and exclusions, the livestok policy can be extended to include the following:

Cattle - Calving Risks, Theft, Transit Risks, Third Party Liabilities.

Horses - Transit Risks, Loss of use.

Crop Insurance. This policy covers loss of damage due to fire, lightening, storm, malicious damage, transit and theft of harvested crop whilst stored in the silo or building. The covers available include:-

Livestock Insurance Livestock insurance is a multifaceted type of coverage with several different policy options. For example, farm owners can buy coverage for specific activities such as their livestock's transit or for auction market coverage; they may buy coverage for specific animals such as poultry coverage or pasture and dairy cattle coverage; or they may buy mortality insurance for animals with an especially high value to the farm such as a stud.

Farm Equipment Insurance It takes a lot of specialized equipment to run a farm. From tractors to irrigation equipment, trailers to combines, these complicated expensive machines are fundamental to a farm’s ability to operate properly, efficiently and successfully. Equipment insurance for the vehicles and machines on the farm will allow for reimbursement for certain losses and damages and can help keep you operational.

Workers Compensation Insurance Farms that employ people should also look at workers compensation coverage. Without this protection, they will be responsible for paying the medical expenses and lost wages of employees who are injured at work.


Fire Insurancy Policy

Fire insurance is a specialized form of insurance beyond property insurance, and is designed to cover the cost of replacement, reconstruction or repair beyond what is covered by the property insurance policy. It is used to cover damage to a property caused by fire.

STANDARD POLICY

Covers building, machinery, stock, fittings and fixtures against damage or destruction by FIRE and LIGHTENING and limited explosion. b) Extensions The standard policy can be extended to cover against damage or destruction by full explosion, earthquake, riot, and strike, malicious damage, bush fires and storm, flood impact etc.

2. CONSEQUENTIAL LOSS INSURANCE (Business Interruption)

 The “Consequential Loss” Policy provides cover for lost income due to interruption and also standing charges and increases in cost of working during the insured period or until such interruption ceases, which ever comes earlier.

3. OFFICE COMPREHENSIVE INSURANCE

This policy provides very wide cover for office owners and tenants. Perils Covered Fire, explosion, lightening, earthquake, subterranean fire, water damage, aircraft and other aerial devises or articles dropped there from, theft, impact and collision from vehicles and animals, busting, leakage and/or overflowing of boilers, water pipes, tanks, cisterns, baths, wash basins, sinks appliances and/or heating apparatus including radiators and or emission of water from taps and other outlets, accidental breakage of plain plate glass and mirrors.


4. HOUSE OWNERS INSURANCE

This is a comprehensive policy which provides protection against loss of or damage to the buildings caused by the following perils faced by owners of a private dwelling house; fire, lightening, thunderbolt, subterranean fire, explosion, riot, civil commotion, strike, malicious damage, storm, tempest, earthquakes, Bursting or over-flowing of water tanks, apparatus or pipes, impact, housebreaking.


5. HOUSEHOLDERS INSURANCE

The policy covers household goods and personal effects of every description against loss or damage arising from fire, explosion, lightening, riot, civil commotion, earthquake, storm, flood and house breaking.


6. ACCOUNTS RECEIVABLE INSURANCE

Do you operate a hire purchase business? Do you hire out equipment? Do you provide credit facilities to your clients? If you do, you run the risk of having your records destroyed by fire, water, or other perils, making impossible to trade outstanding balances owed to you. To insure yourself against the possibility of such financial loss you take-up an Accounts Receivable policy.


7. SPRINKLER LEAKAGE INSURANCE

Water damage operated by fire is covered under a fire policy. However, accidental discharge of water from sprinklers causing damage is a subject of a separate policy and the above is a must for all sprinkled premises. The sprinkler leakage policy therefore covers loss or damage to property caused by accidental emission of water from sprinkler.


Aviation Insurance Policy

This insurance covers specifically the operations of aircraft and the risks involved in aviation. Aviation insurance policies are distinctly different from those for other areas of transportation and tend to incorporate aviation terminology, as well as terminology, limits and clauses specific to aviation insurance.

1.AVIATION HULL AND LIABILITIES INSURANCE


2. AVIATION PERSONAL ACCIDENT INSURANCE

This provides cover for all flying as passengers and holding tickets in any properly certified aircraft and invariably excludes cover in respect of members of the crew such as pilots and engineers.

3. LOSS OF LICENCE INSURANCE

This type of policy is issued to pilots and flying engineers to provide for payment of an insured sum in the event that their flying license may be suspended.

4. AIRPORT OWNERS AND OPERATORS LIABILITY INSURANCE

This covers bodily injury or property damage caused by or due to, the possession, use, consumption or handling of any goods or products supplied, serviced or distributed by the insured.


Misscellaneous/Accident Policy

1. Employer’s Liability. This policy covers your legal liability as an employer for death, bodily injury or disease caused during the period of insurance to an employee arising out of his or her employment.



2. Public Liability This policy covers all sums which the insured shall become legally liable to pay as damages (including all litigation expenses incurred but only with the consent of the insurers) arising form: accidental death of a bodily injury due to illness or disease contracted by and accidental loss of a damage to property belonging to members of the public arising anywhere in connection with the business.

3. Burglary This policy covers loss or damage to property contained in the business premises through forcible and violent entry into or exit from the premises. It also covers damage to premises in the case of a theft or any attempt threat up to stated limits.

4. All Risks This policy covers accidental loss or damage to insure items from any cause other than those specifically excluded on the police. It usually applies to high valued portable items, e.g cameras, laptops, smart phones etc.

5. Fidelity Guarantee This policy covers direct financial loss sustained by you as a result of fraud or dishonesty of your permanent employee(s) concerned. All category of permanent employees can be covered.

6. Group Personal Accident This policy covers accidental bodily injury/death to the insured employees caused solely through external violent and visible means and where such injury prevents the employee from performing normal duties. This policy usually covers permanent employees but can also cover casual employees on request. Employees on contract may also be covered.

7. Individual Personal Accident This policy covers accidental bodily injury/death caused solely through external violent and visible means to individuals (whether employed or not).

8. Money This policy covers loss of money belonging to the insured whilst such money is in transit or on the insured business premises. It may also cover:-
9. Professional Indemnity This policy indemnifies the insured against legal liability for the damages and claimant’s cost and expenses in respects of claims for breach of professional duty.
10. Glass This policy covers of or damage to glass situated at the insured’s premises, the property of the insured.

11. Medical Malpractice This policy covers the insured against their legal liability to pay compensatory damages (including claimant’s costs and defence costs) for bodily or mental injury to, illness, disease or death of any patient caused or alleged by malpractice arising out of the business/profession.

12. Directors and Officers Liability This policy covers the insured against legal liability for loss/damage resulting from any wrongful act of the insured staff in their company except as specifically excluded.

13. Customer Protection This policy covers the hire companies for goods, which are the subject mother of a hire purchase agreement against loss or damage by accident or incident arising from fortuitous circumstances not specifically excluded.


Marine Insurance


1. Goods In Transit This is an annual policy covering goods whilst in transit within Zambia against: Loss of damage during actual transit

and during loading and unloading of goods caused directly by fire, collision and overturning
2. Single Inland Transit This is a single transit cover of goods within Zambia, which is terminated immediately goods are unloaded from the conveying vehicle. Cover is against loses and damage to the goods from causes not specifically excluded on the policy.

3. Marine Open Cover This provides automatic cover for regular shipments to and from board on declaration basis. Cover is against losses and damage to the goods from cause not specifically excluded on the policy.

4. Marine Specific This police is issued to clients whose imports are irregular and it covers losses and damages caused not specifically excluded on the policy.


General Insurance Policy

This type of insurance encompasses a variety of forms specialised in offering non-life insurance services to the general public.

We also offer marked policies to suit individual’s client’s requirements upon request. Our pride is in securing our client’s future by insuring their assets today.

veritas@veritasgeneral.org