PRODUCTS & SERVICES
1. Fire Insurance
2.
Engineering Insurance
3.
Automobile Insurance
4.
Marine Cargo Insurance
5.
Personal Accident Insurance
FIRE INSURANCE
Fire Insurance is an insurance which covers any accidental loss of/or damage to your property and/or interest caused by fire and other perils which is covered under the policy.
Insurance companies in Indonesia generally refer to the Indonesian Standard Fire Policy.
Perils Insured under Indonesian Standard Fire Policy are:
a) Fire
b) Lightning
c) Explosion
d) Impact of falling aircraft
e) Smoke
Extended coverage with additional premium that are usually offered by Insurance companies accompanying the Indonesian Standard Fire Policy are:
a) Riot, Strike, Malicious Damage (RSMD) plus Civil Commotion as per DAI version
b) Earthquake, Fire and explosion following earthquake, Volcanic Eruption, Tsunami
c) Removal of Debris
d) Landslide/Landslip
e) Business Interruption
f) Typhoon Flood, Water Damage Windstorm
g) Smoke and Vehicle Impact
Property All Risk:
Property All Risks (PAR) is an insurance which covers any unforeseen, sudden and accidental physical loss/damage/destruction to the insured's property subject to some exclusion causes as follows:
a) War, invasion, act of foreign enemy, hostilities, strike, riot, civil commotion, revolution, terrorism, sabotage
b) Nuclear radiations or contaminations
c) Nuclear radioactive toxic explosive
d) Willful act or willful negligence of the insured or the insured's representatives
e) Total or partial cessation of work
Kind of Coverage in a Property All Risks (PAR) insurance policy consists of two sections as follows:
Section 1: Material Damage
Section 2: Business Interruption
Note: All description mentioned above are virtually very general, therefore, information in detail shall be determined by terms and conditions mentioned in the policy.
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ENGINEERING INSURANCE
Engineering Insurance is an insurance which covers any loss or damage to the insured property (usually construction, construction materials, equipments or machinery) during construction work or installation of machinery against any unforeseen, sudden, accidental, physical loss or damage.
Some of Engineering Insurances also cover accidental loss of or damage to property belonging to third parties and bodily injury of third parties subject to agreed limitations.
Engineering Insurance Line of Business:
a) Contractor All Risk Insurance (CAR). An insurance which covers any risks of loss and/or physical damage to construction work during construction engagement
b) Erection All Risk Insurance (EAR). An insurance which covers any risk of loss and/or physical damage to machinery during the installation or erection
c) Machinery Breakdown Insurance (MBI). An insurance which covers any risk of loss and/or physical damage to machinery that are operational
d) Electronic Equipment Insurance (EEI). An insurance which covers any risk of loss and/or physical damage to electronic equipment
e) Contractors Plant and Machinery Insurance. An insurance which covers any risk of loss and/or physical damage to Insured’s (as a contractor) plant and machinery whether at rest or in operation
Note: All description mentioned above are virtually very general, therefore, information in detail shall be determined by terms and conditions mentioned in the policy.
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AUTOMOBILE INSURANCE
Automobile Insurance is an insurance which covers any loss of/or damage to motor vehicle caused by accident or theft, and third party liability.
Kinds of Coverage of an Automobile Insurance:
a) Comprehensive - Covers any loss or damage in respect of property damage include partial loss
b) Total Loss Only - Covers any loss of motor vehicle due to theft or if cost of repair exceeds 75% of value at risk
Extended Coverage for an Automobile Insurance:
a) Personal Accident for Passenger
b) Personal Accident for Driver
c) Passengers Legal Liability
d) Strike Riot Civil Commotions
e) Terrorism & Sabotage (Terms and Conditions apply)
f) Natural Hazards (Earthquake, Tsunami, Volcanic Eruption, Flood and Storm)
Indemnity to the insured shall be deducted by its own retention and this insurance applies within the Indonesian territory only.
Note: All description mentioned above are virtually very general, therefore, information in detail shall be determined by terms and conditions mentioned in the policy.
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MARINE CARGO INSURANCE
Cargo Insurance is an insurance which covers any loss of/or damage to subject matter insured during shipment or transportation by:
Marine transportation
Land transportation
Air transportation
Marine Cargo Insurance Conditions
There are three insurance conditions that are mostly used amongst of many existing marine insurance conditions. These conditions are:
a) Institute Cargo Clauses "A" 1/1/82
b) Institute Cargo Clauses "B" 1/1/82
c) Institute Cargo Clauses "C" 1/1/82
Each of these condition provides different scope of cover, for h="95%" border="1px" bordercolor="#004288" cellpadding="0" cellspacing="0">
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