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Insurance Policies >> Workmen's Compensation

Policy Details

Fidelity Guarantee Policy
Indemnifies the employer against direct financial loss resulting from acts of dishonesty of the employees.

Professional Indemnity Policy
Covers a professional against his legal liability to third parties incurred whilst engaged in his profession. For example, a patient instituting a claim against a Medical Officer who negligently prescribed a wrong drug to him. The Medical Officer may fall on his professional indemnity insurers to bail him out.
 
Exclusions on Professional Indemnity Insurance
This policy shall not cover any claim or claims arising out of:
1. Any negligent act, error or omission in connection with services or activities going beyond the scope of professional services typically performed as an architect and/or consulting engineer under domestic legislation, ethical codes and rules;

2. The manufacture, construction, alteration, repair, servicing or processing of any goods or products sold, supplied or distributed by the Insured or out of any business or occupation other than that stated in the schedule, even though the same may be carried on by the Insured in conjunction with his business as stated in the schedule;

3. Any contract where the Insured acts as a contractor, manufacturer or supplier, whether in conjunction with his profession as stated in the schedule or  not; 

4. Any financial loss not connected to any property damage or bodily injury (pure financial loss); however, impairment of, defect in or damage to the designed object itself due to faulty design (or lack of or insufficient supervision of construction) are considered property damage; notwithstanding the foregoing no coverage shall exist as respects any consequential financial loss, which exceeds the costs for the mere repair of the particular object to make it fit for the intended purpose;

5. Any neglect, error or omission by the Insured in effecting or maintaining insurance or in providing finance or advice on financial matters;

6. Financial loss resulting from exceeding cost estimates and time limits;

7. Claims in respect of financial loss resulting from loss of use, loss of profit, lack of performance as to the quality and quantity of products or the productivity or efficacy of any plant or equipment.

8. The costs of revising or redesigning drawings, plans, specifications or schedules of specifications as a consequence of a claim indemnifiable hereunder; this exclusion, however, does not apply to such costs claimed by a customer;

9. Infringement of patents, copyrights, trade names, trademarks or registered design or the allocation of licenses;

10. loss of documents (of any nature whatsoever) whether written,  printed or reproduced by any other method, or any computer-based or electronically stored information or material property which has been lost, mislaid or destroyed while entrusted to, or in the care, custody or control of the Insured.

11. Libel or slander;

12. Failure to account money;

13. Liability assumed by the Insured by contract or any other agreement or any express warranty or guarantee given by the Insured which  increases the Insured’s legal liability; this exclusion shall, however, not apply to liability which would have attached to the Insured in the absence of such contract, agreement, warranty or guarantee;

14. Any claim made against the Insured as the result of any intentional, dishonest, malicious, criminal or illegal act on the part of the Insured or his employees;

15. Bodily injury sustained by any person arising out of and in the  course of his employment by the Insured under a contract of service or apprenticeship with the Insured;

16. The ownership, use, occupation or lease of property, mobile or immobile, including waterborne vessel or craft or aircraft or motor vehicle, by, to, or on behalf of, the insured;

17. Any liability of whatsoever nature, directly or indirectly caused or contributed to by, or arising from, pollution of air, water or soil;

18. Loss or destruction of, or damage to any property whatsoever, or any loss or expense whatsoever resulting or arising therefrom, or any consequential loss, or any legal liability of whatsoever nature, directly or indirectly caused by, or contributed to by, or arising from:
 
Ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel,

The radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof;

19. Liability resulting from asbestosis or any related disease (including cancer) resulting from the existence, production, handling, processing, manufacture, sale, distribution, storage, deposit or use of asbestos, asbestos products and/or products containing asbestos;

20. Any consequence of war, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, terrorism, rebellion, revolution, insurrection or military or usurped power,

21.  Liability due to force majeure (for example, but not limited to, earthquake and              flood);

22. Claims filed by the Insured under this policy against each other or filed by a party

which is directly or indirectly owned, controlled, operated or managed by an Insured,

in which any Insured is a partner, consultant or employee;

23. fines, penalties, punitive or exemplary damages or any other damages resulting from the multiplication of compensatory damages.
 
 
Products Liability Policy
Covers the insureds legal liability arising from defects in products manufactured or supplied by him.
 
Exclussions on Products Liability Insurance 
This policy does not cover loss or damage directly or indirectly caused by related to or in consequences of:
1.1 War, invasion, acts of foreign enemies, hostilities or warlike operation (whether war be declared or Not, civil war, rebellion, revolutions, insurrections, civil commotion assuming the proportions of or Amounting to an uprising, military or usurped power; or
1.2 Any act of terrorism
For the purpose of this policy an act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organisation(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear.
1.3  This policy also excludes loss, damage, cost or expense of whatsoever nature directly  or indirectly caused by, resulting from or in connection with any action taken in controlling, preventing,   suppressing or in any way relating to (1) and /or (2) above
1.4  If the Insurers allege that by reason of this exclusion, any loss, damage, cost or expense is not covered by this insurance the burden of proving the contrary shall be upon the Insured.

2.    Any occurrence for which a fund has been established in terms of the War Damage   Insurance and Compensation Act 1976 (No. 85 of 1976) or any similar Act applicable to any of the territories to which this Policy applies;
 
3. Nuclear Energy Risks whether such risks are written directly and/or by way of reinsurance and/or via Pools and/or Associations.
For all purposes of this agreement Nuclear Energy Risks shall mean all fist party and/or third party Insurance or reinsurances (other than Workers’ Compensation of Employers’ Liability) in respect of:
3.1 All Property, on the site of a nuclear power station.
Nuclear Reactor, reactor building and plant and equipment therein on any site other than a nuclear Power station.
3.2 All Property, on any site (including but not limited to the sites referred to in I above) used or having been used for:
3.2.1 The generation of nuclear energy; or (Response)
3.2.2 The Production, Use or Storage of Nuclear Material.
3.3  Any other Property eligible for insurance by the relevant local Nuclear Insurance Pool and/or Association. But only to the extent of the requirements of the local Pool and/or Association.
3.4. The supply of goods and services to any of the site, described in I to III above, unless such insurances or Reinsurance shall exclude the perils of irradiation and c ontamination by Nuclear Material.

Except as under noted, Nuclear Energy Risks shall not include:-
(i) any insurance or reinsurance in respect of the4 construction or erection or installation or replacement  or repair or maintenance r decommissioning of Property as described in I to III above (including contractors’ plant and equipment).
(ii)  Any Machinery Breakdown or other Engineering insurance or reinsurance not coming within the scope of (i) above.
Provided always that such insurance or reinsurance shall exclude the perils or irradiation and contamination by Nuclear Material.
However, the above exemption shall not extend to:-
1. The provision of any insurance or reinsurance whatsoever in respect of :-
(a) Nuclear Material;
(b) Any property in the High Radioactivity Zone or Area of any Nuclear Installation as from the introduction of Nuclear Material or – for reactor  installations – as from fuel loading or first critically where so agreed with the relevant local Nuclear Insurance Pool and/or Association.

2. Provision of any insurance or reinsurance for the undernoted perils:
Fire, lightning, explosion;
2.1 Earthquake;
2.2 Aircraft and other aerial devices or articles dropped therefrom;
2.3 Irradiation and radioactive contamination 
2.4 Any other peril insured by the relevant local Nuclear Insurance Pool and /or association.
 
In respect of any other Property not specified in 1 above which directly involves the Production, Use or Storage of Nuclear Material as from the introduction of Nuclear Material into such Property.
 
 
 
General Liability Policy
This policy protects an Insured against his legal liability to third parties for damages in respect of accidental:
(i) Death or bodily injury including illness
(ii)  Loss of or damage to tangible property
occuring within the territorial limits and arising in the course of or in connection with the insured's business.
 
For example, an insureds liability to a client going to the insureds office that falls and injures himself from a faulty staircase may be compensated under this policy.
 
Exclussions on General Liability Insurance 
This policy does not cover:
 
1. Insured’s employees
2. Damage to:
  • Property belonging to the Insured
  • Property in the custody of the Insured or his employee
  • That part of property being worked on if the damage is as a result of such work
  • Product liability 
  • Defective workmanship
  • Vibrations or removal of support
  • Contractual liability
  • Gradual pollution and clean-up costs
3. Fines, penalties, punitive or vindictive damages
4.  Damages and costs awarded outside the jurisdiction stipulated in the policy

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Policy Details
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