Property & Casualty

Business operations are exposed to multiple risks such as: material damage arising out of fire and natural calamities, financial losses arising out of liabilities and other contingencies such as theft, infidelity etc. Our umbrella of products under Property and Casualty indemnifies the insured against financial losses from covered events and help businesses get back on track, should any incident occur.

Fire & Allied Perils

Insurance House offers two kinds of policies:

  1. Fire Policy: This covers insurers against the risk of losses or damages due to fire and lightning only.
  2. Fire and Allied perils: Adding to the above mentioned cover, this type of policy covers a number of additional perils which may differ from one policy to another but most usually include the following perils:

Property All Risks

This policy covers all risks of physical loss, destruction or damage to the insured property which occurred during the policy’s period and is subject to certain terms, conditions and exclusions. This policy provides a wider coverage range than the Fire and Allied Perils insurance policy. Noting that the PAR policy can be tailor made depending on the profession clients and their requirements.

Public & Product Liability

This policy covers insured individuals against the legal liability that may arise out of an act of negligence against the losses or damages to third party properties, bodily injuries or deaths and legal expenses incurred in defending the liability with the consent of the insurer.

Personal Accident

This policy covers death / disability arising out of an accident. The cover can be given on a 24 hour basis and a worldwide basis as well to employees during their vacation / business trips. Disability cover is also available for permanent total, permanent partial and temporary disabilities. Moreover, the policy can further be extended to cover the following additional benefits:

Professional Indemnity

Professionals like Engineers, Surveyors, Architects, Consultants, Lawyers, and Auditors could be held liable for any damages to their clients and/or any third party for breach of professional duty, errors, omissions and professional negligence whilst practicing their professions.

Medical Malpractice

Professionals like doctors or other paramedics could be held liable toward third parties or bodily injuries or death arising out of their professional work. This type of policy provides cover against such eventualities. Further details are available upon request.

Bankers blanket bond

Nowadays, crimes against financial institutions are becoming common and the purpose of this insurance policy is to protect a Financial Institution from various risks like Employees’ Fraud, insured’s property whilst in transit, cover for forgery, theft, burglary, counterfeit currencies, loss or damages to the furniture, fixtures and fittings due to various causes.

Fidelity

This policy covers financial losses suffered by employers, consequent to the dishonesty or employees holding positions of trust indulging in following:

Workmen’s Compensation

It is legally compulsory by Law no. 8 of 1980 for all employers in the UAE to cover all of their employees against losses, damages or injuries sustained during their course of employment. The policy is catered to cover death, disabilities and medical expenses of injuries arising during one’s course of employment, and subject to policy terms.

Jeweller’s Block

The policy offers comprehensive cover to a dealer of gold and jewellery. A host of perils are covered under the policy, providing protection to stock which includes gold, jewellery, precious stones, etc as well as the furniture, fittings, decoration, fidelity, and sleight of hand etc.

Business Interruption

Sometimes the material damages caused by fire are minor whereas the consequences faced by the owner in terms of loss are:

Money

Policy covers items like cash, notes, securities, cheques, money orders stamps whilst in locked safe, drawer or in transit against various risks.

Protection & Indemnity

The Protection and Indemnity entry covers a vessel ship or yacht, etc against various liabilities arising out of the operation of vessels like loss or damages to cargo, port installation etc.

Contingency/ Cancellation of Event Insurance

This policy is for events, conferences, weddings, seminars or any other personal events that have been cancelled due to causes like Natural Calamities or Death of Ruler or other important personalities.

Live Stock

This type of insurance covers the assured’s animal in the event of death of any such animal as a result of any accident, illness or disease manifesting itself, during the policy period as per related terms up to but not exceeding the limit of the Underwriters liability specified in the Schedule in respect of such animal.