This policy offers comprehensive protection in respect of contract works for loss or damage to construction plant and equipment and/or machinery, as well as for third-party claims in respect of property damaged or bodily injury arising in connection with the execution of a building project. CAR insurance provides an all risk cover. Every hazard is covered which is not specifically excluded. This means that almost any sudden and unforeseen loss or damage occurring to the property insured on site is covered.
Theft of money by robbery continues to increase. The Corporations money policy is designed to cover loss of money by â€˜any means whatsoever whilst on the premises, in transit, in safes, at sites, in residences of partners and directors and in the hands of collectors and salesmen. The policy also extends to cover damager to safes, cash boxes and strong rooms as a result of theft or attempted theft of money. Money in this sense includes bank notes or cash, cheques, postal orders and money orders.
This covers breakage of window or door glass, mirrors, show cases, etc. it can be can extended, on payment of extra premium, to include accidental damage to window frames, fixtures, fittings and goods displayed in windows, and the cost of boarding-up after breakage.
Every person in business and every owner or occupier of premises may be called upon to pay heavy sums as compensation for accidents. Every trader has this constant liability to the public and the advisability of obtaining protection against this class of risk by means of insurance is very wide terms, and can be extended to cover products liability i.e. legal liability to third parties for death, or damage to their property caused by goods sold, supplied, repaired, services, installed or tested by the insured.
An employee of labour can either by statute or common law be held legally liable for death of or injury to his employees either by accident or through illness. This liability exists independent of any liability imposed under the Workers Compensation Act and can be insured under an employers liability policy. This policy provides wide cover including legal costs and expenses.
Death, disablement or incapacity of the bread winner can be a serious loss indeed for his or her dependents. The Corporations Personal Accident Policy is designed to provide cover for accidental death, injury or disablement. Capital sums are payable in the event of death, loss of limbs, sight, fingers or hearing and paralysis or other permanent injury. Weekly sums are payable for any period (up to 104 weeks in all) during which the insured is disabled from carrying on his usual business or occupation.
In addition, the Corporation will pay the cost of medical expenses connected with the accidents. Policies can be written for groups of people connected in a club, family, business, employment, or similar undertaking. This is known as Group Personal Accidents. Cover may be arranged on the basis of multiples of annual earnings or for fixed amounts.