Zimbabwe Insurance Brokers Limited

Assets All Risks

ASSETS POLICY

This policy covers tangible property belonging to the organisation or held by them in trust or on commission for which they are responsible. This includes, but is not limited to:

  1. Buildings, being office blocks, factories, laboratories, colleges etc
  2. Contents of buildings – comprising furniture, stationery, fixtures and fittings,
  3. Plant and Machinery e.g. Transformers, generators, Processing plant

PERILS COVERED, FIRE AND ALLIED PERILS
FIRE AND ALLIED PERILS

The above definition embraces the following:

  1. Fire and Lightning
  2. Explosion
  3. Earthquake
  4. Non-Political riots, strikes and Malicious Damage
  5. Special Perils (impact by vehicles and trees, storm, hail, wind, rain, and flood damage)
  6. Spontaneous Combustion

ACCIDENT PERILS
These are also subject of the Assets All Risks policy. Loss or damage to, or as a result of:

  1. Theft following force or violence
  2. Money (and other negotiable instruments)
  3. Plate Glass
  4. Goods in Transit within Zimbabwe
  5. Employees Personal effects
  6. Accidental Damage to office machinery.

BUSINESS INTERRUPTION
Cover is also available under this policy to cater for:

  1. Increase in cost of working
  2. Reduction in Turnover
  3. Following damage resulting from Fire and Allied perils

ACCOUNTS RECEIVABLE
Covers costs of tracing outstanding debtors as well as compensation for untraceable debts following destruction of records.

If you need a quotation for an Assets policy, contact us

SELF-INSURANCE
There are instances where it is more beneficial to retain the risk and make provision for future losses than to pass it on to insurers. We are well positioned to advise on self-insurance.

Engineering Insurance

The various disciplines of Engineering Insurance are:

  1. Electronic Equipment
  2. Machinery Breakdown
  3. Machinery Breakdown Loss of Profits
  4. Plant All Risks
  5. Contractors All Risks
  6. Deterioration of Stock in Cold storage
  7. Erection All Risks
  8. Advance Loss of Profits

 

1. ELECTRONIC EQUIPMENT (Computers)

This covers computers and ancillary equipment for sudden and unforeseen physical loss or damage.
Cover is also available for:

  1. External Data Media
  2. Reconstruction of Data
  3. Increased Cost of Working
    (Necessary and reasonable costs to cater for the following, after a material damage claim e.g. Renting of substitute equipment, Overtime wages)

If you need a quotation for an Electronic Equipment policy, contact us.

2. MACHINERY BREAKDOWN

Cover: Sudden and unforeseen breakdown of the insured machinery.
The essence of this insurance is to cover machinery critical to your operations.

If you need a quotation for a Machinery Breakdown policy, contact us

3. MACHINERY BREAKDOWN LOSS OF PROFITS

Loss of profit resulting from reduction in turnover as well as increased cost of working following loss or damage covered in terms of the Machinery Breakdown policy.

If you need a quotation for a Machinery Breakdown Loss of Profits policy, contact us.

4. PLANT ALL RISKS

Covers accidental damage to mobile plant such as, but not limited to:

  • Fork Lifts
  • Bulldozers
  • Front-end loaders
  • Graders

If you need a quotation for a Plant All Risks policy, contact us

5. CONTRACTORS ALL RISKS

In construction projects, the contract works and materials can be insured against unforeseen damage.

Either the contractor or the principal can take out this cover.

6. DETERIORATION OF STOCK IN COLD STORAGE

Damage to cold store machinery can result in perishables going bad, leading to loss of income. This policy provides compensation for such damage and s suitable for:

  • Dairy Products
  • Vegetables
  • Meat Industry

If you need a quotation for a Deterioration of Stock policy, contact us

7. ERECTION ALL RISKS

Plant and machinery in the course of erection or during commissioning is susceptible to loss or damage. The essence of this cover is to provide compensation in the event of accidental loss or damage during erection.
If you need a quotation for an Erection All Risks policy, contact us

8. ADVANCE LOSS OF PROFITS

Organisations venture into business with profit in mind. Damage to works undergoing construction or machinery in the course of erection would result in a delay in realising profit. This policy would indemnify the policyholder for loss of future gross profit. contact us

Marine Hull and Aviation

Marine Hull: Sudden and unforeseen physical loss or damage necessitating repairs or replacement. Comprehensive on the specified vessel. Cover includes houseboats, third party property damage, passenger liability, contents, any other loss and tender boats

Aviation Insurance: is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation.

If you need a quotation, contact us.

Marine Cargo

Goods being imported or exported by sea need to be covered against loss or damage.The policy caters for a diverse range of goods, be it machinery, sculpture, household items, computers, motor vehicles etc.

If you need a quotation, contact us.

Liabilities

In industry and commerce the potential liabilities facing organisations are a lot. Liability cover is available to provide protection. The following are some of the covers available:

  1. General Liability
  2. Tenants Liability
  3. Property owners liability
  4. Products Liability
  5. Employers Liability

 

If you need a quotation for a Liability policy, contact us

Personal Accidents

The cover afforded by this policy is in respect of compensation for death or injury to the insured person by accident. Accident in this case as defined as external violent and visible mean.
The cover is suitable for individuals and organizations and provides the following benefits:

  • Death: Pays a multiple of one’s annual earnings to dependents of the deceased
  • Permanent Disablement: Compensation is according to extent of disability
  • Temporary Total Disablement: Meets the employee’s earnings for up to two years
  • Medical Expenses: meets medical expenses arising as a result of the accident

If you need a quotation for a Personal Accident, contact us.

Other Classes

The following insurances are also available:

FARMERS PACKAGE

For:

  • Crops (covers against storm damages, fire and hailstorm and crop diseases)
  • Livestock (covers against diseases, fire, lightning and theft)
  • Farm Buildings and contents (covers against lightning fire, damages and theft of contents)
  • Farm equipment (cover against theft and damages)

DIRECTORS AND OFFICERS LIABILITY

For liability which may attach to directors or officers of the company through an act or omission on their part.

PROFESSIONAL INDEMNITY

Covers negligent acts or omissions of the insured professional causing damages to their clients. This may be referred to as professional negligence. It is ideal for such professional as listed below (but not limited to these)

1. Medical Field

  • -Doctors and Nurse
  • Radiographers
  • Physiotherapists
  • Dentists
  • Opticians


2. Engineering

  • Engineers and technicians
  • Surveyors

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