Fire & General Accident

Commercial Banks and Financial Institutions recognize the risks associated with their operations. The exposures are from within as well as external. It is therefore of paramount importance that "right insurance protection" is in place for transferring most of their exposures. The Banker's Blanket Bond is a "package insurance protection" specifically designed for the banks and financial institutions to offer protection to their assets and liabilities.

Bankers Blanket Bond comprises of various "insuring clauses" to cover different contingencies in a "tailor made" fashion to suit specific needs. The following are the insuring clauses available.

• Infidelity of Employees: This clause provides coverage for any loss due to misappropriation or embezzlement by dishonesty of the insured's own employees
• On premises: This clause provides coverage for loss &/or damage to insured's property due to various perils including fire whilst in the premises where the insured carries on business and other specified places which should clearly be defined while opting for this clause.
• In-transit: This clause provides coverage for loss &/or damage to insured's property whilst in-transit to and from premises along the defined geographical area.
• Forgery and Alteration: This clause provides coverage for loss caused due to forgery or alteration (Expression forgery means the forging or fraudulent alteration of any document or the uttering of any forged or fraudulently altered document by the employee(s) whereby one obtains possession of monies or goods.)
• Securities: This clause covers securities of the insured (Stock, certificates, bonds, and other governmental guaranteed authority stocks etc) whilst in insured premises or others due to loss &/or damage resulting from named calamities.
• Counterfeit Currency: This clause 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: This clause provides coverage for loss &/or damage caused by fire and other perils to the office and contents of the insured's premised which should specifically named whilst opting for this coverage.
• Other insuring Clauses: Separate sub -limits within the overall limit could be considered for other extensions like, "Automated Teller Machines", "Safe Deposit Vaults", "Professional Indemnity" and "Computer Crimes"

There are a number of exceptions and exclusions, which are part of the policy terms and conditions. Our Technical Staff will be always ready to assist our customers for any query on the Policy Conditions.

The rate chargeable is based on the "sub-limits" and the "Overall Limit" of the Policy and is dependent to the scope and extent of cover opted for, security measures, housekeeping, past record etc., amongst others. The Policy is also subject to a deductible under each insuring clause. Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

Medical establishments such as hospitals, clinics medical centers, laboratories, pharmacies, etc., and professionals like, doctors, nurses and Para-medical staff are exposed to liability suits lodged against them by patients and those receiving services or by their legal heirs for negligence or malpractice.

AWNIC offers coverage to the Assureds who are medical establishments, doctors and other medical professionals against all sums which the assured shall become legally liable to pay as damages arising out of any bodily injury, mental injury, illness, disease or death of any patient caused by negligent act error or omission committed by the Assured in or about the conduct of the Assureds occupation or business.

UAE Authorities enacted Federal Law no. 10 of 2008 related to Medical Malpractice law governing such cases of negligence and wrongdoings. It is now mandatory that all medical professionals insure themselves against their negligence and wrongdoings.

The premium rate is based on the following factors:

• Limit of indemnity
• Turnover of the insured
• Type of medical services offered
• Number and category of Professionals
• Nature of profession, risk and the exposure

It is recommended that a reference be made to the policy wording for proper understanding of the nature, scope and other conditions of the insurance.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

This policy is suitable for all entrepreneurs exposed to liability due to negligence arising out of accidents in the course of their business operations.

Salient Features

This policy indemnifies against amounts the insured is legally liable to pay as damages to the third party victims which may be:

• Compensation for accidental death, bodily injury or disease to third parties
• Damage to or loss of property belonging to third parties arising out of an accident, including legal costs incurred with the prior consent of the insurer.
• Legal and civil liabilities against the named Insured.
• Extensions for Sudden & Accidental pollution and transportation risks can be considered as per the requirements of customers at additional rates, terms and conditions.

Benefits

Policy covers the following benefits:

• Any legally liability liable to pay third party during the policy period
• Includes cover for legal costs and expenses.
• Covers unlimited liability for ADNOC & Other Government related contracts as per the contractual requirement of the principal.

Premium

Premium rates dependent upon:

• Type of risk based on hazard groups classified.
• The limit of liability and
• Annual anticipated turnover
• Nature and scope of services provided

As the prevailing public law is stringent and the courts are awarding huge sums arising out of liabilities, it is prudent to take such an insurance cover even in cases where it is not mandatory.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

Al Wathba Insurance offers Employer's Liability Insurance as an extension under Workmen's Compensation Insurance or as a standalone policy as per the requirements of customers

Employers' Liability Insurance indemnifies the employers to pay compensation which they are legally required to pay under the Federal Decree Law No.33 of 2021 for any personal injuries or death by accident arising out of and in the course of employment.

The Policy also pays for all costs and expenses incurred in defending any claim for compensation, but with the prior consent of the company. Standard limit of liability granted is Dhs.1,000,000 any one occurrence in the aggregate but limited to Dhs.200,000 per person per accident including all costs and expenses during the period of insurance.

The indemnity provided as compensation for damages and costs & expenses of litigation shall be as per UAE jurisdiction.

The Premium rate is applied on the Limit of Indemnity. The premium chargeable depends on the nature of work and the risk involved.

Benefits

Policy covers the following benefits:

• Liability arising from the hires of the employees.
• Includes cover for legal costs and expenses.
• Covers unlimited Employer's liability for ADNOC & Other Government related contracts as per the contractual requirement of the principal.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

This insurance is ideal for homes.

It is a package policy which covers the following exposures:

• Fire & Allied Perils for Building & Contents
• Radio & Television Aerials
• Rent & Expense for Alternate Accommodation
• Liability to Public
• Liability to Domestic Staff

The premium is calculated on the basis of sum insured and limits opted under various sections of the policy. Policy can be tailor-made to suit individual requirements.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

This insurance is ideal for stationers, grocers, all kinds of shops and stores, super markets and departmental stores.

This is a package policy which covers the following exposures:

• Fire & Allied Perils for Building & Contents
• Loss of Rent
• Burglary
• Money
• Glass/Neon Signs
• Fidelity
• Workmen's Compensation
• Third Party Legal Liability

Business Interruption, Goods in transit and Plate Glass Insurances could also be granted as extensions as per the requirements of customers.

Minimum sum insured under the policy is Dhs.250, 000 and the premium is calculated on the basis of sums insured and limits opted under various sections of the policy.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

This is a product specifically designed for the gold and jewel merchants OR jewelers whose trade is exposed to various perils despite sound security measures.

Al Wathba Insurance offers Jeweler Block Insurance to gold and jewelers merchants to protect them mainly against loss and/or damage to stock, furniture & fixtures besides many other extensions to it. For the purpose of this Policy, "stock" shall mean goods consisting of gold, jewellery, platinum goods, bullion, precious stones, pearls and the like.

It is recommended that a reference be made to the printed policy for proper understanding of the nature, scope and conditions of insurance as there are various conditions and warranties that are to be complied with.

Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a CALL BACK via the call back option.

Benefits

Policy covers the following benefits:

• Stock (Jewellery & Watches), Contents & Loss of Rent.
• Window Smash Limit.
• Hold Up.
• Personal Conveyance
• Exhibitions

Scope and conditions of insurance as there are various conditions and warranties that are to be complied with.

Workers in any organization are exposed to work related accidents and therefore well protected under the UAE Federal Law No.8 of 1980 & subsequent amendments thereto. The Federal Law of UAE has cast a responsibility on the employers to pay compensation to employees due to accidents arising out of and in the course of employment.

Al Wathba Insurance offers Workmen's Compensation Policy which will indemnify the employer against all sums payable under the U.A.E. Federal Law No. 8 of 1980 and subsequent amendments to pay compensation to any employee due to accident arising out of and in the course of employment.

The Extensions available to this insurance are:

• Medical Expenses: Medical expenses benefit for work accidents up to Dhs.10, 000/- per person subject to treatment being confined to all UAE Government hospital/Clinics. (higher limit can be opted for at extra premium)
• Expenses for Repatriation: Repatriation expenses for transporting the deceased body following work accident up to Dhs.5, 000/- per person. (higher limits can be considered at extra premium)
• Employer's Liability: Up to Dhs.1, 000,000/-Any One Accident &/or in the aggregate but limited to Dhs.200, 000/- per person per occurrence. (Higher limits can be considered at extra premium)

The Premium rate is applied on the Estimated Annual Earnings of the employees which is adjustable at the end of the policy period based on the actual annual earnings. The premium chargeable depends on the nature of work, risk involved cover/extensions requested.

It is recommended that a reference be made to the printed policy for a proper understanding of the nature, scope and conditions of the insurance.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

Despite the best internal control measures in any corporate activity, mishaps like misappropriation and embezzlements by employees do take place. Al Wathba Insurance's uniquely designed "Fidelity Guarantee Insurance Policy" is specially developed to protect employers from such exposures.

Employers should consider the following points while opting for Fidelity Guarantee Insurance.

• Number of employees handling cash, valuables or stocks & bonds
• Limits of exposures
• Employees' status and credibility

The policy covers any loss caused due to any act(s) of forgery or embezzlement, larceny and/or fraudulent conversion committed by an employee in the course of their duties.

The premium rate applied is on "Per Mille" basis (for every thousand units) on the aggregate limit of indemnity in addition to per capita.

Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a CALL BACK via the call back option.

A reference may be made to the printed policy or advice sought from our technical staff.

Money is exposed to mishaps such as loss and damage like any other property and to protect against the risk of loss of money Al Wathba Insurance offers insurance protection under the "Money Insurance Policy:".

Money insurance is an "all risks" cover with some exclusions for which a reference may be made to the printed policy.

Essentially Money would mean cash, notes, cheque, and securities for money, stamps and the likewise.

The cover is available for "money" against all risks whilst:

• It is in transit from premises to bank and vice versa
• In safe in office premises
• Out of safe during working hours
• In a bank's safe
• In the care & custody of company's designated staff

Other extensions incidental to Money Insurance can also be bought and tailor made to the exact requirements of customers.

In granting a "Money Insurance Cover", factors taken into consideration are: Limits on:

• Estimated annual carrying
• Maximum limit for any one carrying
• Maximum limit for safe-keeping at any given time.

The rate chargeable is always applied on a "Per Mille" basis (for every thousand units) on the estimated annual carrying and limit of money in safe/premises. The charges are dependent on the nature of risk, location and the security measures in place. For a thorough understanding of the product, a reference may be made to the printed policy or advice sought from our technical staff.

The main exclusions under the policy are:

• Theft by own employees
• Money out of safe
• Loss from premises following use of a key unless key is obtained by violence or threat
• Shortages due to errors of omission and commission
• War etc.

Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a CALL BACK via the call back option.

A reference may be made to the printed policy or advice sought from our technical staff.

This is a package policy covering loss and/or damage to the hotel property, loss of revenue, third party liability arising from the operations, loss and/or damage to guest effects, personal effects, loss of money, infidelity of employees and forgery, plate glass, etc.

The premium is calculated on the basis of sum insured and limits opted under various sections of the policy. The policy can be tailor-made to suit requirements of hoteliers.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.

Various sections of the policy can be tailor-made to suit requirements of hoteliers.

As a result of a loss due to the risk of fire and the damages it may cause, besides the business coming to a halt, there are certain standing charges fixed expenses that will continue to be incurred irrespective of the situation that the insured is placed in. These expenses such as bank interests, employee's salaries, rent, electricity and other standing charges will still need attention in addition to the loss of revenue. The insured suffers financial losses due to loss of gross profits on account of reduction in turn over and increased cost of working during the period of interruption.

In order for a "Business Interruption cover" to operate it is compulsory to have a Property All Risks or Fire Insurance Policy. This cover takes into consideration the following aspects which should be addressed when opting for this cover:

• Gross profit: The amount by which the sum of the value of the turnover and the value of the closing stock exceed the sum of the value of the opening stock and the amount of the specified working expenses. The values of the opening and closing stocks shall be arrived at in accordance with the Insured's normal accountancy methods, due provision being made for depreciation.
• Net Profit: The Net Trading Profit (exclusive of all capital receipts and accretions and all outlay properly chargeable to capital) resulting from the business of the Insured at the premises after due provision has been made for all standing and other charges including depreciation. Standing Charges: Interest, rent, bank charges, insurance premium, advertising, printing, stationery, electricity, travelling expenses, maintenance of plant and machinery, depreciation of building, plant and motor vehicles etc.
• Annual Turnover: The Money paid or payable to the Insured for goods sold and delivered and for services rendered in course of the business at the premises
• Limit and Period of Indemnity: Whilst the period of insurance is 12 months, the indemnity period differs. This would depend on the period the insured would necessary prepare to come back to the position they were before the loss in terms of both property and trading. Reasonably the periods would be anything between six to eighteen months. The limit also would differ however; it would basically be worked out based on the indemnity. Amount payable by the insurers which will be in respect of

1. Reduction in turnover
2. Increase in cost of working

The rate chargeable is always applied on "Per Mille" basis (for every thousand units) on the Total Sum Insured (Turn Over) and is dependent on the limit and period of indemnity, nature of risk, location and the housekeeping. There are both time and monetary Deductible for each and every loss in addition to a number of other Conditions

There are two types of deductibles (Monetary and Time) applicable under the BI insurance for each and every loss. There are a number of exceptions and exclusions, which are part of the policy terms and conditions.

Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a CALL BACK via the call back option.

Accidents are common and sometimes cause fatal injury leading to disabilities or death. Personal Accident Insurance is a benefit policy providing compensation in the event of an unfortunate event.

In this section, we provide the salient features of "Group Personal Accident Insurance". This insurance is best suited to companies, firms, association of persons for covering all their employees and members under one policy. Group Personal Accident Insurance covers loss resulting directly and independently of all other causes from bodily injuries caused by accident on or off duty and anywhere in the world.

The coverage offered is:

• Accidental Death: Compensation is 100% capital sum insured
• Permanent Total Disability: Compensation is 100% capital sum insured
• Permanent Partial Disability: Compensation is as per continental scale
• Temporary Total Disability: Compensation is calculated on the basis of salary with a maximum of 52 weeks
• Medical Expenses: Compensation up to  5,000 per person per injury(higher limits can be considered at extra premium)
• Repatriation Expenses: Compensation for transportation or burial up to  5,000 per person(higher limits can be considered at extra premium)

Tailor-made policies can be designed suited to the requirements of the group. Premium is based on sum insured elected, age, and nature of work, salary levels and the optional benefits elected.

For further details on the "product" and "benefits", please call us on Telephone or ask for a call back.

This insurance policy indemnifies the Insured for accidental physical loss of or damage to the property insured whilst situated at the premises described in the policy. It includes loss or damage by fire, lightning, aircraft, explosion, earthquake, strike, riot, civil commotion, malicious damage, storm, tempest, flood, bursting or overflowing of water apparatus (including sprinkler leakage), impact by own vehicles, theft or attempted theft (by violence to persons or threat thereof or by violent and forcible entry to or exit from the premises) and accidental loss or damage.

The coverage is usually provided for a period of one year. However, if it is the requirement of the Insured or the principals i.e. Banks, Government Departments or Municipality etc., then such coverage can be arranged for a longer period than one year, but up to a maximum of two years.

The Sum Insured may be either on the basis of the actual value or the new replacement value of the property but should be adequate to cover the total exposure. The Insured has to provide the sum Insured but may seek the assistance of our technical staff to determine the adequacy. Sum Insured is very important and needs to be given due consideration to avoid application of Average [i.e. application of under-insurance] in the event of a claim.

The rate chargeable is always applied on "Per Mille" basis (for every thousand units) on the total sum Insured and is very much dependent on the nature of risk, location and the housekeeping and other physical features of the risk. There is a deductible for each and every loss under the policy. The insurance is also subject to other terms and conditions as printed on the Policy.

Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a CALL BACK via the call back option.

Any loss or damage to material and property, in terms of loss of capital and other consequential losses. The aftermath of fire is drastic and monetary relief is essential to rebuild and restore the property and bring back the business to its normal course. It is here that fire insurance plays its role in safeguarding the financial interests of entrepreneurs:

Al Wathba's Fire insurance Policy covers all immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer's premises, machinery temporarily removed from the premises for repairs against loss or damage by fire, and a host of other perils listed below & many more.

Benefits

In case of a partial loss, payment for repairs and replacement is made. In case of policy with reinstatement value clause, cost of reinstatement will be paid on completion of reinstatement subject to overall limit of the sum insured. Insurance company may at its option, also repair or replace the affected property instead of paying for the cost of restoration.

Premium

Premium rating is based on the type of occupancy, physical features, values at risk, requirement of additional covers and a completed proposal form.

There are a number of exceptions and exclusions, which are part of the policy terms and conditions.

Our Technical Staff are ready to assist for further details on policy conditions. Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a call back.

Quotation will be offered on submission of a duly completed proposal form to the company. For further details please call us on our telephone or ask for a call back.