Commercial Insurance

Property Insurance

Fire & Allied Perils Insurance.

This is the basic Property Insurance Policy designed to cover insured properties whilst at specified locations. The standard perils covered under the policy are Fire, Lightning, Earthquake, Storm, Tempest, Flood, Bursting & Overflowing of Water Tanks and Apparatus, Impact Damage, Aircraft Damage, Riot & Strike, Malicious Damage and Explosion.

The cover provided under the policy is usually granted after a satisfactory Risk Inspection and a completed proposal form (specimen attached)

Burglary Insurance

The policy covers loss or damage to property following forcible and violent entry into or exit from the premises.

Property All Risks Insurance

This is a wider cover which provides protection for accidental physical loss or damage to insured property in addition to the above Fire & Allied Perils and Burglary Insurances.

As in the case of Fire & Allied Perils Insurance, this insurance policy is also subject to a satisfactory Risk Inspection and a completed proposal form (specimen attached)

Business Interruption Insurance

The policy covers Loss of Net Profit and continuous expenditure towards Standing Charges and reasonable Increased Cost of Working incurred to avoid the reduction in turnover following an indemnifiable loss under the underlying Fire & Allied Perils or Property All Risks Insurance Policy.

It is important to select appropriate Indemnity Period during which the business can be restored to its pre-loss position following a loss.

Terrorism Insurance

This policy covers Physical Loss or Damage to Property arising out of an Act or Series of Acts of Terrorism. Coverage can be extended to include Interruption to Business following such Physical Loss or Damage.

Generally, the coverage is based on a "Loss Limit". This Limit would depend on the Total Sum Insured of the Property Covered.

Engineering Insurances
Engineering Insurances

Contractor's All Risks Insurance

The policy has two Sections to cater for all contingencies associated with Contract works.

Section I:Material Damage This Section covers loss or damage to contract works and other ancillary facilities on comprehensive basis

Section II: Third Party Liability This Section covers legal liabilities to third parties arising out of accidental bodily injury or property damage in connection with contract works.

The policy provides protection throughout the construction period followed by a 12-month maintenance period.

Erection All Risks Insurance

The scope of cover is like the Contractor's All Risks Insurance but specifically designed for Erection/Installation projects, where the values of the Plant/Equipment dominates the Contract Value.

Machinery Insurance

The policy covers loss or damage to insured static Plant & Machinery against sudden, accidental and unforeseen physical loss or damage including mechanical/electrical breakdown.

It is a condition under the policy that Sums Insured declared should represent the New Replacement Values and that there shall be a satisfactory Maintenance Program throughout the period of Insurance.

Deterioration of Stocks Insurance

The policy covers Deterioration of Stocks in refrigerated cold rooms/chambers following an incident, which gives rise to a claim under the underlying Machinery Insurance Policy. Therefore, availability of a Machinery Insurance policy is a pre-condition for Deterioration of Stocks Insurance.

In addition to Monetary Excess, the policy is usually subject to Time Excess.

Contractor's Plant & Machinery Insurance

The cover is designed for Mobile Plant & Equipment used in construction sites against sudden, accidental and unforeseen loss or damage but excluding mechanical/electrical breakdown. The same criteria apply as in the case of Machinery Insurance.

Public and Product Liability

The policy covers legal liability for Accidental Property Damage of and/or Death/Personal Injuries to Third Parties arising out of operation of the insured business within the Territorial Scope. The policy specifically excludes liability arising out of products being sold, supplied or professional services rendered by the Insured, loss or damage to property belonging to or in the care, custody or control of the Insured, and liability to employees against occupational accidents/injuries.

Public Liability Insurance

The policy covers legal liability for Accidental Property Damage of and/or Death/Personal Injuries to Third Parties arising out of operation of the insured business within the Territorial Scope. The policy specifically excludes liability arising out of products being sold, supplied or professional services rendered by the Insured, loss or damage to property belonging to or in the care, custody or control of the Insured, and liability to employees against occupational accidents/injuries.

This Policy can be extended to protect against legal liability to Third Parties for Property Damage and/or Death/Personal Injury arising out of defects in the products being sold, supplied or manufactured by the Insured (Product Liability)

Products Liability Insurance

This cover can be granted as an extension to Third Party Liability Insurance to protect against legal liability to Third Parties for property damage and/or death/personal injury arising out of defects in the products sold, supplied or manufactured by the Insured.

Marine Insurance
Marine Insurance

Marine Cargo

Movement of all kinds of goods irrespective of their mode of conveyance, i.e. Sea / Land / Air. Depending on frequency and turnover, coverage can be procured either for individual shipment or on annual basis. The facility is available to protect Sellers / Buyers interests on a contingency basis as well.

Marine Hull

Cargo vessels of all descriptions, tugs, supply vessels, dredgers etc., whether operating in blue waters or in relatively protected inland/coastal waters. We also cover yacht/pleasure craft together with third party liabilities, if required.

Marine Liabilities

Marine Liabilities (Liabilities related to various marine operations, primarily):

  • Ship Repairer's Liability
  • Charterer's Liability
  • Freight Forwarder's Liability
  • Haulier's Liability
  • Terminal Operator's Liability
  • Protection and Indemnity Liability

Trade Credit Insurance

We offer a comprehensive range of credit management solutions designed to protect your cash-flow and balance sheet against the adverse impact of bad debts. Trade Credit Insurance policies cover against the risk of nonpayment due to your customers declared or presumed insolvency. By insuring trade receivables, you can reduce exposure to bad debt effectively turning risk capital into growth capital.

Pleasure Crafts

We understand the pleasure of being on the water and have uniquely tailored covers to suit your needs. From small boats to mega yachts, our customers always receive adequate attention and coverage at competitive price.

Money Insurance
Money Insurance

The policy is designed to protect against loss of money whilst on the premises during business hours, whilst in a locked Safe out of business hours, and whilst in transit between specified locations by authorized employees.

The Cover includes infidelity risk of the employees provided it is discovered within 72 hours.

Fidelity Guarantee Insurance
Gold Plus Jewelers Block Insurance

The policy is designed to protect the Insured against fraudulent or dishonest act(s) committed by the employees in the course of the employment for their financial gain, which result in a financial loss to the Insured.

Gold Plus Jewelers Block Insurance
Gold Plus Jewelers Block Insurance

The policy is designed for those who are engaged in the jewelry business as retailers, wholesalers or manufacturers. The policy covers most of the risk exposures in this trade such as display in showrooms, personal carryings, sendings by courier services or air freight, entrustments, exhibitions, etc.

Contingency Insurance
Contingency Insurance

The policy is designed for events such as exhibitions, musical shows, etc. to cover the financial loss of the organizers as a result of cancellation, abandonment, curtailment, postponement or relocation of the scheduled event due to any reason beyond the control of the organizers.

The major contingencies associated here are national mourning and cancellation of events due to adverse weather. The cover can also be extended to include non-appearance of a prominent person such as an artiste, whose presence is crucial for the event.

Workmen's Compensation Insurance
Workmen's Compensation Insurance

Workmen's Compensation Insurance is designed to protect the employer against their liabilities to employees in respect of injuries suffered by them during their employment as per Labor Law/Workmen's Compensation Ordinance. In UAE compensation is governed by Chapter 8 of Federal Law No. 1980.

Group Life Insurance
Group Life Insurance

The Group Life and Personal Accident Insurance Scheme has been designed to cater to the needs of employers for the protection of their employees against death or disability. This form of protection is better than Workmen's Compensation Insurance since this inter alia affords compensation in respect of employees against the risk of natural death as well as accidental causes. Moreover, the cover is on a 24-hour basis anywhere in the world.

Group life insurance policy is very flexible and is designed to cater for the changing needs of the employers. Addition of new employees and removal of staff who are no more in employment can be done during the term of the policy. Under this scheme an employer can provide maximum protection to his employees at the lowest possible cost.

The other optional benefits that can be covered in addition to Death benefit are:

  • Double Accidental Death Benefit
  • Permanent Total Disability due to accident
  • Permanent Total Disability due to sickness
  • Permanent Partial Disability due to accident
  • Permanent Partial Disability due to Sickness
  • Temporary Total Disability due to accident
  • Temporary Total Disability due to Sickness
  • Accidental Medical Expenses
  • Repatriation of mortal remains to home country
Credit Life / Credit Shield Insurance
Credit Life / Credit Shield Insurance

Credit Life / Credit Shield Insurance is designed to provide a financial institution with protection against failure of its customers to pay their debts or credit card payments due to their untimely death or disability.

While this policy protects the financial institutions from suffering losses due to unrecoverable debts or having to resort to legal proceedings to recover money owed to them from the deceased's family members, it also provides peace of mind to the borrower that in case of his/her death the burden of debt repayment shall not be passed over to his/her dependents.

In addition to the basic death cover we offer following optional benefits.

  • Permanent Total disability due to accident.
  • Accidental death and Permanent total disability as "Top-up Cover".
  • Involuntary loss of employment.
  • Critical illness
  • In-hospitalization treatment in case of accident.
Group Medical Insurance
Group Medical Insurance

Medical Insurance Division has more than 15 years of experience in providing quality health care coverage.

offers flexible products to meet the health needs and budget of UAE residents across the spectrum. EIC has a diversified portfolio of products that includes global and local plans.

We offer both Individual and Group medical policies.

Motor Fleet Insurance
Motor Fleet Insurance

This is provided to our Corporate Clients who have a good risk management in place to maintain their fleet of vehicles. The cover is provided along with other classes of insurance. The size of the fleet, composition and past claims experience determine the insurance terms.

Hotel Plus Insurance

The cover is designed for hoteliers to cater for most of their Insurance requirements such as loss or damage to Property, Business Interruption, Money, Public Liability, Workmen's Compensation, Fidelity Guarantee, Machinery Insurance, Deterioration of Stocks etc.

Professional Indemnity Insurance

This insurance policy covers claims, being first made in writing against the Insured during the Policy period and the Insured becomes legally liable to pay for breach of duty of professional service arising by reason of negligent act, error or omission committed or alleged to have been committed during the policy period (and retroactive period, if any).

Professional Indemnity Insurance cover for diverse professions including the following:

  • Architect and Engineers (Annual and Single project policies)
  • Lawyers
  • Accountants
  • Insurance Brokers
Medical Malpractice Insurance
Medical Malpractice Insurance

Medical Malpractice is a Professional Indemnity insurance cover specifically designed for those who are involved in the medical profession such as doctors, nurses, surgeons, technicians etc.

Medical Malpractice insurance for individual professionals as well as hospitals / clinics in their corporate capacities.