Commercial Insurance
Money Insurance
This insurance cover protect money in transit from your premises to bank or post office or other specified places or between the insured’s premises and branch offices, we can also cover the money in safe and/or premises at specified places under the same policy.
Money is always susceptible to mishaps such as burglary and the like. To protect against this risk, “Money Insurance Cover” may be purchased.
Money shall mean cash, notes, cheques, securities, stamps and the like.
This cover is available against risks whilst:
- In transit from premises to bank and vice versa.
- In a safe, in office premises.
- Out of the safe during working hours.
- In a Banks’ safe.
- In the care & custody of company’s designated staff.
- Other Extensions incidental to Money Insurance can also be provided. These can be tailor made to the exact requirements of the customer.
The premiums are calculated on the estimated annual carryings and amount of money in the safe or on the premises. Furthermore, the premiums are based on the nature of the business, location and the security measures in place.
Exclusions under the policy are:
- Theft by own employee.
- Money out of safe.
- Loss of premises following use of key, unless, key is obtained violent behaviour of threats.
- Shortage due to errors of omission and commission.
- War and like activities.
Our technical team will be happy to assist you should you require additional information or further clarification.
Fidelity Guarantee Insurance
Fidelity Guarantee Insurance protect the employers against the financial loss suffered by them due to the specified dishonest acts of their employees.
Despite the best internal control measures in any corporate activity, mishaps like misappropriation and embezzlements by employees do take place. Fidelity Guarantee Insurance Policy protects employers against 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 &/or fraudulent act committed by an employee in the course of their duties. The premiums are calculated on the basis of aggregate limit of indemnity in addition to per capita premium.
Our technical team will be happy to assist you should you require additional information or further clarification.
Hotel Plus Insurance
NOBLE Insurance Broker can arrange you a policy especially designed for Hotels to take care of all the possible protection which is required by the Hotel owners including:
- Loss or damage to Building and/or contents
- Business Interruption,
- Workmen's Compensation,
- Fidelity Guarantee,
- Machinery Breakdown Insurance,
- Deterioration of stocks,
- Loss of money,
- Legal Liability,
- Damage to Fixed Glass,
- Book Debts,
- Goods in Transit,
- Computers
Our technical team will be happy to assist you should you require additional information or further clarification.
Jewellers Block Insurance
NOBLE Insurance Broker can arrange for Jewellers Block Insurance for your Gold and Jewellery business through special packages available in the local market.
The policy covers most of the risk exposures in this trade such as display in showrooms, stocks in safes, strong rooms personal carryings, sending by courier services or air freight, entrustments, exhibitions, etc.
Our technical team will be happy to assist you should you require additional information or further clarification.
Electrionic Equipment Insurance
Noble Insurance Broker, can arrange for EEI. This policy covers the insured item like computers, laptop, digital cameras, video cameras etc, whether at work or at rest, being dismantled for cleaning, in course of sub-sequent re-erection. This insurance covers against material damage, loss/damage to external data and increased cost of working.
Electronic equipment used in various industrial operations and offices are exposed to risks of unforeseen or sudden causes resulting in loss or damage.
This policy covers electronic equipment against any unforeseen or sudden physical loss or damage, except those specifically excluded under policy terms.
The policy covers the insured items at work or at home, or being dismantled for the purpose of cleaning, overhauling or being shifted within the premises, or in the course of the aforesaid operations, or during subsequent erection after commissioning.
The sum insured should be the replacement cost including freight, duty, cost of erection and other dues. If the sum insured is found to be inadequate, our policy will pay in such proportion as the sum actually insured bears to the sum that should have been insured at the outset.
Premium calculations are based on factors such as values, type, make, model and age, nature and type of industry where the equipment is being used, experience of the industry, loss history.
Our technical team will be happy to assist you should you require additional information or further clarification.
Professional Indemnity Insurance
Noble Insurance Broker can arrange Professional Indemnity Insurance to cover indemnities & grant protection to the professionals like architects, consultants, solicitors, accountant & auditors, lawyers, doctors & legal translators etc., against damages which they may be called upon to pay arising out of their professional negligence.
The policy provides protection against professional negligence which could lead to Bodily Injury or Property Damage to third parties for which the Insured can be held legally liable.
- Professional Indemnity for Consulting Engineers & Architects
- Professional Indemnity for Chartered Accountants
- Professional Indemnity for Lawyers, Consultants,
- Medical Malpractice Insurance (for Medical Practitioners)
Professional Indemnity policy helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are potential causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability coverage sometimes also provides for the defence costs, including when legal action turns out to be groundless. Coverage does not include criminal prosecution nor a wide range of potential liabilities under civil law that are not enumerated in the policy, but which may be subject to other forms of insurance. Professional liability insurance is required by law in some areas for certain kinds of professional practice (especially medical and legal), and is also sometimes required under contract by other businesses that are the beneficiaries of the advice or service.
Coverage:
Professional liability insurance policies are generally set up based on a claims-made basis, meaning that the policy only covers claims made during the policy period. More specifically, a typical policy will provide indemnity to the insured against loss arising from any claim or claims made during the policy period by reason of any covered error, omission or negligent act committed in the conduct of the insured’s professional business during the policy period. Claims which may relate to incidents occurring before the coverage was active may not be covered, although some policies may have a retroactive date, such that claims made during the policy period but which relate to an incident after the retroactive date (where the retroactive date is earlier than the inception date of the policy) are covered.
Coverage does not include criminal prosecution, nor all forms of legal liability under civil law, only those specifically enumerated in the policy. Cyber liability, covering data breach and other technology issues, may not necessarily be included in core policies, although it is readily available on the market.
Some policies are more tightly worded than others and while a number of policy wordings are designed to satisfy a stated minimum approved wording, which makes them easier to compare, others differ dramatically in the coverage they provide. For example, breach of duty may be included if the incident occurred and was reported by the policy holder to the insurer during the policy period. Wordings with major legal differences can be confusingly similar to non-lawyers. Coverage for “negligent act, error or omission” indemnifies the policyholder against loss/circumstances incurred only as a result of any professional error or omission, or negligent act (i.e., the modifier “negligent” does not apply to all three categories, though any non-legal reader might assume that it did). A “negligent act, negligent error or negligent omission” clause is a much more restrictive policy, and would deny coverage in a lawsuit alleging a non-negligent error or omission.
Coverage is usually continued for as long as the policyholder provides covered services or products, plus the span of any applicable statute of limitations. Cancelling the policy before this time would in effect make it as if the insured never had coverage for any incidents, since any client could bring any case with regard to any such services or products that occurred before the statute of limitations cut-off point. A break in coverage could result in what is called a “gap in coverage,” which is the loss of all prior acts.
Our technical team will be happy to assist you should you require additional information or further clarification.
Contingency Insurance
This policy is designed for events such as exhibitions, musical shows, etc. to cover the financial loss of the organisers as a result of cancellation, abandonment, curtailment, postponement or relocation of the scheduled event due to any reason beyond the control of the organisers.
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.
NOBLE is dedicated to providing Film and Event Insurance and Contingency Insurance which is primarily focused on event cancellation. Our expert underwriting team offer Contingency Insurance to cover trade shows, exhibitions, sports and entertainment events. We are highly experienced in North American and UK business but can also accept business from across the globe.
Our key focus areas are Event Cancellation and Abandonment.
Contingency Insurance Coverage:
- Event cancellation and abandonment
- Corporate events Sporting events
- Trade shows
- Music festivals
- Film producers’ indemnity
- Film production
- Death & disgrace
- Non-appearance
- Music tours
- Key speakers
- Theatre production
- Prize indemnity
- Lottery Game shows
- Hole in one
- Contractual bonus
- Weather related risks
- Advertising shoots
Additional Contingency Insurance Cover
NOBLE Insurance Broker, key focus areas for Contingency Insurance are detailed above – if you would like to discuss additional cover options (such as Terrorism, War, Political Violence or Nuclear, Chemical, Biological and Radiological Attacks.
Our technical team will be happy to assist you should you require additional information or further clarification.
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.
Essentially whether you are a Contractor or a Beneficiary such as project owner, developer, or promoter you are indeed better off having an insurance product as opposed to taking the traditional route of having a bank guarantee.
- 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.
NOBLE Insurance Broker can arrange Credit Life / Credit Shield Insurance from local and International market.
Our technical team will be happy to assist you should you require additional information or further clarification.
Terrorism & Sabotage Insurance
This policy covers Physical Loss or Damage to Property arising out of an Act or Series of Acts of Terrorism.
Generally, the coverage is based on a “Loss Limit”. This Limit would depend on the Total Sum Insured of the Property Covered.
Property Terrorism and Sabotage Insurance has been specifically designed to cover the sabotage, terrorism, mutiny, rebellion, insurrection and coup (excluding war and civil war) risks faced by multinational companies operating in countries where these risks are normally excluded from standard insurance programs. Coverage for strike, riot and civil commotion can be included by endorsement.
Property Damage, Business Interruption and Contingent Business Interruption are standard coverage under this policy.
Our technical team will be happy to assist you should you require additional information or further clarification.
Medical Malpractice Insurance
The Hospitals, Clinics, Individual Doctors can be protected by Medical Malpractice Insurance against damages which they may be called upon to pay arising out of their professional negligence or malpractice.
Medical Malpractice Insurance, a claims made policy, is only available to a practitioner involved in the health industry so that they will be protected in the event of a judgment against them for medical malfeasance.
This cover is required by the regulatory authorities and can be obtained by practitioners as individuals or group-wise as employees of an entity.
There is an economy of scale, which allows premiums to be lower in total than each practitioner buying a separate cover. Also the Entity Insurance extends cover to include risk, which would normally be excluded under individual cover.
Since practitioners are sued infrequently, the data is actuarially unsound, making it impossible for a physician to be “rated” based on past history. So, while history is important to know, practitioners are classified based on their specialties, and the rates are set accordingly.
Our technical team will be happy to assist you should you require additional information or further clarification.
Bankers Blanket Insurance
This policy provides indemnity for the direct financial loss of money &/or securities sustained by the insured bank and discovered during the period specified in the policy.
Banks and Financial Institutions recognize the risks associated with their operations and the exposures from within as well as external. It is therefore important that a risk transfer mechanism is set in place to safeguard against all the odds. The Banker’s Blanket Cover is purposely designed for the banks and financial institutions considering their unique needs for coverage. Bankers Blanket Cover covers various “insuring clauses” to encompass various contingencies 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 employee(s).
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 (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 from 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. The contents of the insured’s premises should specifically be named whilst opting for this coverage.
Other insuring Clauses:
Separate sub-limits within the overall limit could be considered for other extensions, for instance, “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 happy to answer your queries.
The premium rates are applicable on the “sub-limits” and the “Overall Limit” of the Policy is based on the nature, scope, the extent of cover, security measures and past loss experience, etc. The Policy is also subject to a deductible under each insuring clause.
Our technical team will be happy to assist you should you require additional information or further clarification.