General or Non-Motor insurance includes several lines of personal and business insurance such as fire and allied perils, burglary, public liability, professional indemnity, personal accident, contractors all risks among others. Each non-motor insurance claim has its own specific claims procedure and conditions.
This policy will indemnify the insured against the loss of or damage to the property insured arising from burglary or housebreaking as defined in the policy. Cover is limited to burglary following forcible or violent entry to or exit from the premises.
What is covered?
- property contained in your premises,
- stocks/goods owned by you or held in trust and/or commission.
- cash, valuables, securities kept in a locked safe or cash box in locked steel cupboard on specific request.
- property against loss/damage by burglary/house breaking.
- damage to your premises caused by burglars during burglary or attempts at burglary.
NOTE: The Policy pays actual loss/damage to your insured property caused by burglary/house breaking subject to the limit of Sum Insured.
There is also a provision in the Policy to cover bulk items on ‘first loss’ basis wherein a percentage of total stock stored can be taken as that exposed to the risk of burglary and housebreaking.
Company shall not be liable for
- Loss or damage which can be insured under a fire policy except in the case of explosion caused in an attempt of effect entry
- Loss or damage insurable under a glass insurance policy
- Property more specifically insured or unless specified in the schedule , cash, bank and currency notes , cheques, money orders and documents or certificates of negotiable nature.
Premium basis
This will invariably be a rate applicable to sum insured, varying with the attractiveness of the property to thieves.
Other features
i. Extensions of cover: various extensions are available, including Hold-up, which insures risk accompanied by actual or threat of violence, but where violence to the buildings security measures is not involved. Also, PA covers staff may be included.
ii. Surveys: these are frequently required, where substantial values or attractive stock is to insured.
“Target risks”: some goods are particularly attractive to thieves. Some are obviously in this category, such as gold and jewelry, furs and other high value/low bulk items. Target risks are likely to face more severe policy terms and premiums.
Engineering insurance refers to the insurance that provides economic safeguard to the risks faced by the ongoing:
- construction project,
- Installation project, and machines and equipment in project operation.
Product categories: Depending on the project, it can be divided into construction project all risks insurance and installation project all risks insurance; depending on the attribute of the object, it can be divided into project all risks insurance, and machinery breakdown insurance.
Cover provided is on an “all risks” basis relating to “unforeseen and sudden” physical loss or damage to the insured items. It is thus property insurance.
What is covered?
- Power plants failures
- Electrical machines faults
- Equipment’s
- General Machines
- Manufacturing units
- Boiler explosions and pressure plants explosions
- Electronic equipment’s fault
Exclusions / limitations
- Standard exclusions, such as war and associated risks, nuclear, etc.
- Consequential loss, arising because of the breakdown
- Policy deductible, which may be of fairly significant amount.
Contractors’ All Risks is designed to provide an all risks cover during the construction period for contract works against loss or damage to property and third party liability for accidental bodily injury or property damage in connection with the performance of the contract, other than by an excluded cause.
What is covered?
- Buildings :residential, offices, hotels, hospitals ranging from 15-40 stores
- Auditoriums , movies theaters, multipurpose halls
- roads
- culverts and bridges
- water supply schemes, sewage disposal, overhead tanks
- Railway lines lying.
Exclusions/ limitations
- Faulty design and losses only discovered on taking an inventory
This insurance also closely follows the basic format and wordings of contractor’s all risk with the latter however the work involves the actual construction (making) of buildings, etc. with erection all risks the basic components are normally not constructed on site, but are assembled and installed (e.g. bridge construction, powerful transmitters, large storage installations etc.)
What is covered?
- General risks
- Power generation/ distribution risks
Other large risks maybe rated as special risks in consultation with re-insurers.
Whether it’s your home or your business, you have probably invested a considerable amount of time, effort and money in your property. Fire insurance will protect your property and investments against loss or damage from perils such as fire, lightning and flooding.
What can a Mawenzi Insurance Brokers policy offer me?
- Risk assessment and prevention
- Detailed property evaluation
- Independent loss adjusters
What is covered?
- Fire,
- Lightning
- Explosion
- Many additional perils such as:
- Earthquake,
- Riot and Strike,
- Malicious Damage,
- Flooding,
- Impact Damage,
- Aircraft,
- Burst Pipes etc.
Additional Clauses
- Claims preparations costs
- Escalation clause
Property found within the geographical limits (thus within the United Republic of Tanzania)
a) Limitations and exclusions
i) Average: the customary property insurance requirement for full insurance, with a penalty for under-insurance in the event of a claim applies.
ii) Excess: it is not usual to have an excess in respect of the basic cover, but one may apply with certain of the extra perils.
iii) Policy exceptions: the “standard” exclusions relating to war and nuclear events appear with a number of others, often relating, to perils which may be added as extras. It is not necessary for us to make a complete list of the policy limitations but it should be noted that theft during or after the occurrence of a fire is specifically excluded.
b) Premium basis
As with most property insurance, the premium is a rate (per cent or per mile) applied to the sum insured. Properties are classified according to relative for rating purposes, with loading or discounting of premium as appropriate to individual features.
The policy is designed for buildings with glass doors, windows, glass panels and showcases.
The policy provides indemnity to the insured against loss and/or destruction/damage to glass by accident or misfortune of a fortuitous character. There are options either to replace the broken glass according to description or to pay the sum equivalent to the value of the broken glass at the time of loss, destruction or breakage up to the insurance value. Cover can be arranged for cabinet glass, display signs, fixed glass and glass partitions on premises.
i. Fire risks: risks more traditionally covered under fire policy, such as fire itself, storm and various extra perils associated with fire insurance, are excluded.
ii. Wear and tear: as is customary with “all risks” cover, losses attributable to the effect of time (in this case dilapidation of frames or framework) are excluded, as is scratching without actual breakage of the glass.
iii. “Standard” exclusions: war and associated and nuclear risks.
iv. Consequential loss: loss of business or other expense resulting from the breakage of insured glass is excluded.
Clearly the quality of the glass concerned has an influence on the premium, which is generally based on the area of glass insured.
i. be extended to cover this loss or whether the fire policy should be so extended.
ii. Alternative title: originally, this class of business was known as Plate Glass (since it covers fixed glass installations).
This Insurance Policy provides cover against loss of money in transit while being carried by the Insured or Insured’s authorized employee(s) occasioned by:
- Robbery
- theft or any other fortuitous cause
This Insurance Policy also covers loss by burglary or housebreaking whilst money is retained at Insured’s premises, in safe(s) or strong room.
This policy covers loss or damage to money by robbery or theft whilst:
- In transit from your premises to the bank and vice versa
- In your premises during business hours
- In your premises in locked safes/strong rooms outside business hours
- In the hand of senior employees/authorized personnel of the company
- Damage to safes and /or strong rooms
i. Sums insured may have different limits, according to the locations.
ii. Security: it may be specified that money has to be kept in a safe or similar secure place except for limited amounts and limited times. Money is required to be deposited with the bank as soon as possible.
iii. In transit: still on the question of security, the policy may specify that money be transported only by male escorts (at least two with significant sums) and other instructions on the manner or route of transit may be given.
iv. Theft by staff: or with the collusion of staff is fidelity risk and is excluded.
The premium is calculated by applying a rate to the annual carryings of money to and from the bank. As such a provisional premium is payable, subject to annual adjustmentwhen the final figures are known.
i. Proof of loss: the policy is “all risks” but the amount of loss is important and adequate records must be kept to establish loss figures (also in connection with premium adjustment).
ii. Extensions: it is quite common to provide a PA extension to these policies, covering injuries sustained by the staff when assaulted by thieves.
Business Interruption insurance provides compensation for loss of income (following fire damage or machinery breakdown) that a business or the insured would have earned had the accident (damage or breakdown) not occurred. The loss of income covered is that resulting from reduction in turnover and/or increased in working expenses (cost)
i. Loss of Gross Profit as defined in the policy.
ii. Additional expenses incurred as a result of necessary relocation of the business premises, rental fees, additional transport charges to the new location. an insured peril (e.g. hiring alternative premises)
iii. Wages (sometimes included with (i) above) paid during an interruption period.
Basically the policy is the same as fire policy wording ie it covers the same kind of perils, but two important features should be noted:
i. Property damage warranty: if no valid property insurance claim covers the damage (usually a fire policy), no claim can be made under the business interruption (BI) policy, otherwise it can easily be seen that the interruption period is likely to be greatly extended.
ii. Policy specification: a very important part of the BI policy are the definition of gross profit ( which has a different meaning from that normally used by accountants) and other terms applicable to the cover.
The premium calculation is complex, but it begins by using the rate charged for insuring the contents of the building for the fire insurance. This is then loaded according to the time factorinvolved with the cover
These notes give a very abbreviated summary of a fairly complicated class of bussiness, but the following should be noted:
i. Alternative names: “business interruption” is the most modern term for this class of business but it may also be called “consequential loss” or “loss of profits”.
ii. Time element: with fire losses, the most important time is the date of the fire, since the amount of claim will be related to that. With BI insurance the loss is spread over a period after a fire, etc. clearly there must be a limit to this “interruption period” the policy specifies the time limit during which losses may be covered. This may be as short as three months or much longer (even two or more years). The features if individual risks and their ability to return to normal business levels are vital in this area.
iii. Loss calculation: this is a very complex matter, usually requiring the help of professional accountants. In the essence however an attempt is made to measure the loss sustained during the interruption period by comparing income, etc. during that period with the comparable period last year (when business was not interrupted), making any necessary trend adjustments.
Fidelity Guarantee insurance is an insurance policy designed to indemnify the Insured (the employer) for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment.
Why do you need Fidelity Guarantee Insurance?
Companies are exposed to significant financial losses annually, due to crime committed by employees and it is reported that Fraud is on the increase. Combined with the growth in the use of electronic data and asset transfers, the fidelity losses faced by employers are increasing substantially.
Fidelity guarantee insurance is most often sought by companies where employees are more likely to cause financial loss because of their constant exposure to cash, stocks or other assets. The potential losses that could arise from fidelity, especially with the increase in computer crime, make it pertinent that those employers at risk use fidelity guarantee insurance as a risk management tool.
The cover provided includes reimbursement for loss resulting from:
- dishonesty,
- fraud,
- loss of property,
- loss from loans or trading committed by an employee for improper personal financial gain.
- Theft of property by computer fraud and the theft of funds from the insured’s transfer account at a financial institution are also indemnified.
- In addition, defense costs, judgments and settlements are accommodated by the terms of the contract.
i. System of check: and supervision are very important security issues. The approved system must not be varied without the consent of the insurer.
ii. Second chance: employers are often very forgiving and sometimes allow persons who have defrauded them to continue in their employ. Any knowledge or reasonable suspicion about an employee must be reported to the insurer, who will suspend cover until he is satisfied otherwise.
A rate is applied to the amount guaranteed, influenced considerably by the nature of the employment and other factors.
To Process Fidelity Guarantee you need the following procedure:
1. Report the claim as soon as you learn about the loss to the insurance company or your intermediary.
2. Employer's Disciplinary Action Letter to the employee(s)
3. Police Report of the incident
4. Auditing report to show the details of the loss
5. Other Supporting documents may be requested based on the specific scenario
Several of the products we have already considered contain policy divisions giving third party, or liability cover. Those in this section, however, are exclusively third party covers. The liability for respective covers may arise from Statue (the provisions of the Government Ordinance) and /or in Common Law (usually negligence). Liability at law can also arise under Contract, but this is effectively the voluntary assumption of liability, or liability assumed under an agreement. This is usually specifically excluded from liability covers.
Under liability insurance we have the following policies:
i) Workmen’s compensation and Employer’s Liability - which provides cover against damages which an employer may be called upon to pay consequent upon bodily illness or injury to an employee resulting in the course of employment.
ii) Public Liability – Which provide cover for damages which the insured shall become legally liable to pay consequent upon accidental death of or bodily injury to or illness of any person or for accident loss of or physical damage to tangible property occurring in the course of or in Connection with the business of the insured within the territorial limits which results in a claim
iii) Professional Indemnity – which provide cover against liability at law for damages and claimant’s costs and expenses in respect of claims for breach of professional duty
iv) Directors and Officers Liability – which provide cover for any Wrongful Act committed in the capacity of Director or Officer of the Company but only when and to the extent that the Company shall be required or permitted to indemnify the Directors or Officers pursuant to the law, common or statutory, or the Memorandum and Articles of Association.
v) Medical Malpractice – which covers legal liability resulting from any negligent act, error or omission in the professional services rendered or which should have been rendered by the Insured.
Is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue his or her employer for the tort of negligence.
- Report to employer immediately
- Stay safe and go for treatment from recognized medical practitioner
- Keep ALL your medical treatment records for processing the claim – receipts/prescriptions /X-Rays etc…
- Sign the claim from for compensation provided by the employer
- Follow up on your claim with employer to obtain the assessment for compensation from labour office
- Fill in the “Notification of Accident” on prescribed form from Department of Labor
- Report to the Department of labour by submitting the form immediately after the accident has been reported by the employee
- Make sure you receive the following set of filled forms from Labour office after assessment:
- Notification of accident
- Medical Report
- Labour assessment
- Agreement form signed by the labour office and respective employee
- Attach all those mentioned forms together with the insurer’s claim form for compensation from insurance company
- Will collect all supporting document and make the necessary assessment as per statue
- After assessment , will inform the employee, if satisfied both the employee and labour office , will sign the agreement form
- The set of completed the forms will be submitted to the employer for payment of compensation and claim form insurance company
NB:Assessment is mostly base on accident which may result into:
Temporary disability lasting for more three days consecutively
Or permanent disability or death
Briefly the policy provides the following cover to the Insured whilst traveling anywhere in the World:
- Medical expenses and hospitalization abroad
- Cost of medical evacuation and repatriation in case of illness or accident
- Cost of prolongation of stay due to illness
- Cost of emergency return home following death of a family member
- Cost of returning home mortal remains of the Insured.
The intention are virtually self – explanatory , to meet unforeseen financial and other problems encountered whilst on holiday. Specifically , the cover provided is very diverse and likely to include:
i. Medical expenses: private medical treatment in Tanzania is very expensive. High limits of cover for necessary medical treatment incurred whilst on holiday are therefore given , sometimes amounting to several million of shillings.
ii. PA benefits: on a similar basis to PA covers already discussed.
iii. Luggage loss/ damage: in certain circumstances ( death / illness of the insured or close relative ) all or part of money payable for a holiday may be lost. The policy covers such losses.
iv. Loss of money: a limited amount of cover is available for money lost or stolen whilst on holiday.
v. Delays: a specified sum is payable in the event of ordinate delays of aircraft for the time in excess of the stated period.
vi. Repatriation expenses: the extra expenses involved with the returning an injured insured, or his remains in the event of death on holiday.
vii. Public liability cover: the legal responsibility of the insured towards third parties in respect of death, injury, or property damage.
viii. Miscellaneous coverage: a wide of cover and services may be found in this complete class of business, including a benefit for Hijack, Consultation and advice on an international ‘ helpline’ a daily Hospitalization benefit etc.
ix. Loss of deposit: in certain circumstances all or part of the money payable during for a holiday may be lost. The policy covers such losses.
i. Generally: these will be in line with the various types of insurance offered, rg PA cover will be subject to the customary PA exclusions. Liability cover may not include liability arising from the use of motor vehicles.
ii. Excess: most sections of the policy are likely to be subject to an excess, mainly to eliminate trivial claims.
Sometimes policy cover is offered as a ‘ package’ deal , where units of cover may be purchased . in other cases individual covers and sums insured may be selected. In either case the important elements in deciding the premium:
i. Geographical area:
ii. Time element: premium is usually quoted according to the number of days involved with the trip. Most companies quote on band of days e.g. not exceeding 3 days, 7 days, 14 days, 28 days, etc.
iii. Persons covered: travel insurance is obviously related to family holidays. The insured’s spouse and family travelling with him may be offered advantageous overall rates.
iv. Annual policies: for frequently travelers (business and /or holiday) an annual contract may be arranged at an attractive single premium.
i. Underwriting: a feature of this type of business is that everything is made as simple as possible, because cover is usually obtained at the last minute and a product which is not ‘user friendly’ with this mass market is not likely to succeed. As a consequence, there is little individual underwriting of individual risks.
ii. ‘Master policies’: it is quite common for ‘master policies’ to be issued to travel agents, who arrange many ‘package’ holidays. Individual’s customers merely receive a certificate outlining the basic provisions of the cover.
iii. Accumulation: although individual policy underwriting is very limited with travel insurance the underwriter must be aware of the real danger of an accumulation of policy holders being involved in a single accident. a dramatic example would be the crash of as holiday charter flight with perhaps hundreds of fatalities. The accumulation of personal accident payments could be very significant. This is very technical but nevertheless important matter for the insurer who will have contingency reinsurance plan for this.
What is Marine Cargo insurance?
Marine cargo policy protects the insured against losses incurred following loss and /or damage to the goods whilst in transit as imports or exports.
Usually cover is against all risks subject to certain exclusions depending on the description of goods and packaging.
