The Machinery Loss of Profit policy provides cover for the actual loss of gross profits sustained as a result of business interruption caused by a damage indemnifiable under the Machinery Breakdown policy. Therefore, all causes of loss covered by the basic Machinery Breakdown policy is also covered by the Machinery Loss of Profit policy.
This is the agreed duration of business interruption for which the insurers may become liable. The indemnity period should relate to the amount of time required for repairing the machine damaged or for the delivery of new machinery in cases where total loss is possible.
The policy indemnifies the insured for loss of gross profit due to reduction in turnover and increase in cost of working. There are a number of methods of defining gross profit but the intention is to provide indemnity payments for:
1) continuing business expenses (standing charges)
2) net profit
3) the salaries and wages paid to employees
4) the increase in cost of working and the additional expenditure necessary and reasonably
incurred for avoiding or diminishing a reduction in turnover.
Rates are based on the indemnity period chosen, e.g. for the indemnity period declared as 12 months, the rate is an agreed percentage of the sum insured.
There are three sections to the policy.
This policy covers unforeseen and sudden physical loss or damage to the insured equipment from any cause other than those excluded.
Exclusions; fire, lightning, explosion, aircraft damage, corrosive gases, water and humidity, short circuit and other electrical causes, faulty operation, lack of skill, gross negligence, design, manufacturing, assembly and erection faults, defects in casing, workshop error, bad workmanship, malicious act, burglary
Loss and damage of data media specified in the Schedule is covered under this section. The policy covers for the cost of replacing the data media and those for reprocessing the stored data. Such loss or damage of data media only covered when there is a loss or damage suffered under Section 1 material damage. However, loss of information and programming caused by magnetic fields is excluded.
Additional expenses will arise out of the computer break downs and arrangements for hiring computing facilities as well as additional increase in cost of working may become necessary. This coverage is only provided if Section 1 and Section 2 is covered.
The sum insured under Section 1 should always represent the replacement value of computers, i.e. the value of a comparable new item plus customs duties, transportation and installation charges. The sum insured under Section 2 to be specified as sum set to cover the cost arising for reprocessing the stored data.
The policy is subject to a minimum amount of deductible (Section 1 and Section 2)
All electronic equipment which generally have a moderate power requirement. e.g.s
1) communication equipment, telephone, teleprinters, radio communication apparatus, equipment in ground stations, radio and television transmitters, communal aerial devices, facsimile recorders.
2) electronic data processing (EDP) equipment, including the central and peripheral units
3) external data media punched cords, tapes, magnetic tapes and discs
4) Miscellaneous equipment
1. Strike, riot and civil commotion
2. Overtime, night work and express freight (on the Section 1 - the insured have to
include and provide sum insured for expenditure expenses than this clause could be
extended)
3. Theft
4. Earthquake, hurricane, cyclone and typhoon
To refer to the Company
Minimum premium - RM100.00
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All plant and machinery are vulnerable to breakdown or damage irrespective of its quality or reliability. The Machinery Breakdown insurance is an All Risks “Accident” coverage for machinery.
The policy covers unforeseen and sudden physical loss of or damage to the insured machine whilst either at work or rest and during cleaning, inspection, over-hauling or removal to another position within the premises.
Faulty material, design, construction and erection.
Vibration, maladjustment or malignment
Defective lubrication, loosening of parts, defects in casting and material
Excessive electrical pressure
Short circuits or arcing
Carelessness or malicious acts
Physical explosion, fuel gas explosion in boiler
The main elements of the insurance are thus electrical and mechanical breakdown and accidental damage from extraneous causes.
1) Fans and blowers
2) Alternators and generators
3) Switchgears and transformers
4) Lifting equipment including cranes e.g derrick, mechanical plant, turbines and blowers.
5) Boiler and pressure vessel
1) Fire, lightning, chemical explosion, theft, collapse of buildings,
flood, earthquake, subsidence, negligence, landslide, impact damage, war or warlike
operation, wilful acts, riot and strike, civil commotion water damage.
2) Wear and tear or rust, resulting from natural or ordinary usage or gradual
deterioration.
3) Parts not made of metal or exchangeable parts and tools e.g belts, ropes, wires, chains
and tires.
4) Faults of suppliers or manufacturers.
Loss of profits
Expediting expenses
Surrounding property
Name of machine
Type of machine
Year of built
Number of machines
Occupation of Industry
Whether any stand by machine available
Name of manufactures
Previous insurance and claims history
The policy is subject to an excess applicable on each and every claim.
Each item of machinery is separately insured, i.e. it has its own sum insured. The sum insured must represent the current new replacement value, including all installation costs and customs duties.
Refer to the Company.
Minimum premium - RM150.00
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Marine Cargo Insurance is the insurance of import and export of goods the cover depending on the type involved. Cover may be effected by either the buyer or seller of goods depending on the terms of the contract of sale.
| FOB | (Free On Board) | buyer effects the insurance |
| C F | (Cost and Freight) | buyer effects the insurance |
| CIF | (Cost Insurance and Freight) | seller effects the insurance |
There are various types of coverage in marine cargo insurance which is used depends on the proposer’s request. These clauses contain sub-clauses that deal with the various aspects of the terms of insurance. The following are the standard clauses used in marine cargo insurance.
1) Institute Cargo Clauses (A)
2) Institute Cargo Clauses (B)
3) Institute Cargo Clauses (C)
4) Institute Cargo Clause (AIR)
5) Inland All Risk Clause
Institute War Clauses (Cargo)
Institute Strikes Clauses (Cargo)
Institute Dangerous Drugs Clause
Institute Classification Clause
Institute Radioactive Contamination Exclusion Clause
Port Delay Clause
Institute Strike Clause (AIR)
Institute War Clause (AIR)
The value cannot be exaggerated and since the policy is issued on an agreed value basis. It is permissible for the proposer to insure an additional 10% of cost of goods (110%) excluding any duties payable.
All Risks of loss or damage to the subject-matter other than those excluded. (by vessel). Period normally for 60 days or upon discharging the cargo whichever comes sooner.
Loss or damage to the subject-matter insured reasonably attributable to
named risks as follows:
Fire, explosion, stranding, grounding, sinking, capsizing of vessel, over-turning,
derailment of land conveyance, collision or contract of vessel with any external object
other than water, discharge of cargo at port of distress, general average sacrifice,
jettison.
Washing overboard, entry of sea, lake, or river water into vessel, craft, hold, conveyance, liftvan or place of storage. Total loss of package lost overboard or dropped during loading or unloading, earthquake, volcanic eruption or lightning.
Loss or damage to the subject-matter insured reasonably attributable to named risks as follows:
Fire, explosion, stranding, grounding, sinking, capsizing of vessel, over-turning, derailment of land conveyance , collision of contract of vessel with any external object other than water, discharge of cargo at port of distress, general average sacrifice, jettison.
All Risk of loss or damage to the subject matter other than those excluded period normally for a few days only or upon discharge at the final destination.
All Risks coverage of loss and damage to the subject matter other than those excluded.
This policy indemnifies the insured against loss or damage to goods during transit from the port to anywhere within the territorial limit (vice- versa) as specified in the policy.
Insurance does not cover loss, damage or expense caused by:
Wilful misconduct of assured, ordinary leakage, loss of weight or volume, wear and tear, unsuitable packing, inherent vice, delay, radioactivity, atomic weapon of war, insolvency or financial default of owners, managers, charterers or operator of vessels.
Insurance does not cover loss, damage or expense caused by:
Wilful misconduct of assured, ordinary leakage, loss of weight or volume, wear and tear, unsuitable packing, inherent vice, delay, insolvency or financial default of owners, managers, charterers or operators of vessels, Atomic weapon of war, radioactivity, deliberate damage to or destruction of subject-matter insured.
Insurance does not cover loss, damage or expense caused by:
Wilful misconduct of assured, ordinary leakage, loss of weight or volume, wear and tear, unsuitable packing, inherent vice, delay, insolvency or financial default of owners, managers, charterers or operators of vessels, atomic weapon of war, radioactivity, deliberate damage to or destruction of subject matter.
Cover attaches from the time the goods leave the warehouse to begin the insured transit and terminates upon delivery to the consignee’s final warehouse or on the expiry of 60 days after completion of discharge at the final port of discharge, whichever shall first occur. If, owing to circumstances beyond the assured’s control, the ship is delayed, deviated or is forced to discharge goods at an intermediate port, cover continues.
Marine Cargo Insurance contracts are of these three types:
1) Voyage Policy
A voyage policy covers single shipments only.
2) Open Policy
An open policy is written on a time policy usually for a period of one year. The value of future shipments are estimated and deposit premium collected from the insured. At the end of the policy period, the premium is calculated on the actual total value of the shipments and the deposit premium is suitably adjusted.
3) Marine Open Cover
Under a Marine Open Cover, the assured agrees to declare all consignments and the Company agrees to accept the same at the agreed rates and terms.
A separate policy or Certificate of Insurance is issued for each declaration of shipment under the open cover arrangement and the premium charged either against each Certificate of Insurance or against policies issued - Statement of accounts may be prepared either on a fortnightly or monthly basis.
The main advantage of an Open Cover is that it affords to the client’s automatic and continuous Insurance protection, so that there is no risk of any shipment or sending remaining uninsured through oversight, omission or delay in making declarations.
Deliberate damage or destruction of cargo by malicious act
Malicious Damage
Theft, pilferage, non-delivery
The client and business
Nature of goods/invoice/bill of Lading/bill of exchange
Method of packing
Value
Voyage
Details of vessel
Cover required
Previous claims experience
Annual turnover
Port of unloading
On deck or under deck
Date of departure
Transshipment (if any) - the act of transferring goods from one vessel to another
Details of consignee (if any)
The policy is subject to an excess for the loss or damage as specified to the policy.
Refer to the Company.
Minimum premium - RM25.00
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Marine Hull Insurance covers ocean going vessels or ships against loss or damage arising from various sea perils and certain non-sea perils.
The perils covered by the marine may be conveniently grouped as follows:
Perils of the sea include stranding, collision with another vessel, sinking as a result of striking upon rock or sunken vessel, damage by lightning, danger of being driven a shore by heavy seas.
Peril of fire, lightning, explosion, piracy covers for the loss or damage to vessel and anything connected to the vessel.
The policy does not cover losses that are natural and customary such as:
1) Ordinary wear and tear
2) Natural decay through passage of time
3) Inherent vice, earthquake and volcanic eruption
4) War and warlike operation and strikes clauses
(These perils can be covered as per war and strike clause).
There are various types of coverage in marine hull insurable which is used depending on the proposer’s request and need. These clauses contains sub-clauses that deal with the various aspects of the terms of insurance. The following are the standard clauses used in marine hull insurance:
Generally issued for a period of 12 months, covers the hull and machinery etc including everything connected.
Generally begins when the vessel breaks ground for the given voyage or at and from a port to specified destination. A specific voyage to destination cover for the hull and machinery until the destination only.
Generally issued for a period of 12 months for a smaller vessel covered for the hull and machinery etc including everything connected.
1) Institute War and Strikes Clauses - Hull 1-10-83 (CL 281)
2) Institute War and Strikes Clauses - Hull Voyage 1-10-83 (CL 295)
3) Institute Radioactive Contamination exclusion Clauses (CL 356)
4) Institute Classification Clause
5) Parts Removal Clause
6) Leased Equipment Clause
The sum insured is based on agreed value and proper report of valuation by the owners to the status and current worth of their vessel.
The sum to be insured to be agreed upon based on this valuation.
The client and business
Value
Trading Limit
Details of vessel: age, make, registration, name etc
Cover required (details)
Previous claims experience
Period of insurance
The policy is subject to a deductible on each and every loss.
Refer to the Company.
Minimum premium - RM200.00
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Practically every commercial concern (shop, office, factory, estate) has money which is carried to or from a bank, or is kept at their premises or is in the hands of their collectors. Such money may represent wages to be paid out, money received in the course of business, rent received or petty cash. Such commercial concerns need money insurance. However, there is a considerable moral hazard involved in this type of insurance and care must be taken in canvassing and selecting risks. If the prospect does not operate a proper set of accounts, duly audited, in the event of a loss it would be very difficult to obtain verification of the actual amount lost or stolen.
| Section A: | Money in premises Loss of money contained in a locked safe, strong room or locked drawers/cabinets. |
| Section B: | Loss of money-in-transit from bank to premises for payment of wages, petty cash and salaries |
| Section C: | Loss of money-in-transit from proposer’s premises to bank (other than as described in Section B or D) |
| Section D: | Loss of money in hands of collectors whilst in transit from time of receipt anywhere until delivered to premises or Bank. (Selective basis only, to be referred to the Company). |
1) Dishonesty of the insured’s employees
2) Shortage due to clerical or accounting errors or omissions.
3) Depreciation in value
4) War and kindred risks
5) Confiscation by the authorities
6) Losses from an unattended vehicle
1) Riot & Strike
2) Personal Accident to unnamed carrier
3) Armed robbery and/or hold-up
| 1) Premises: | The place where the daily financial transactions of the business are executed or administered. |
| 2) Money: | Cash, bank notes, currency notes, cheques, postal orders and money orders. |
| 3) Banks: | As specified in the schedule - Banks patronised by the insured. |
Refer to the Company
Minimum premium - RM75.00
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This insurance provides for the payment of certain defined benefits, in the event of the proposer sustaining death or disablement by accidental injury.
The policy compensates the Insured Person if he sustains bodily injury caused by VIOLENT, ACCIDENTAL, EXTERNAL and VISIBLE MEANS. This plan provides abroad 24 hour protection, year round.
Personal Accident Insurance can be taken by individuals on their own lives, or on the lives of certain other persons. Policies can also be issued covering groups of individuals.
The Personal Accident Policy grants the following benefits.
| Contingency | Amount of compensation | |
| A. | Death | 100% of capital sum insured |
| B. | Permanent Disablement | A specified percentage of the capital sum |
| C. | Temporary Total Disablement- weekly benefits | Selected indemnity not exceeding 75% of the proposer’s average weekly earnings. |
| D. | Temporary Partial Disablement- weekly benefits | To be limited to 50% of the Temporary Total Disablement benefit |
| E | Medical Expenses | As per specified amount chosen by insured - payable per accident |
Note: Further details of benefits are specified in the Policy Schedule.
1. Suicide and insanity
2. Intoxication by alcohol or drugs
3. Childbirth or pregnancy
4. War and kindred risks
5. Provoked murder or assault
6. Motorcycling
7. Flying in a non-standard aircraft or as a non-fare paying (non-scheduled flight)
passenger
8. Hazardous sports e.g winter sports or sea activities
9. Use of wood-working machinery driven by mechanical power
10. Timber and logging operations
11. Long term disability contracts
12. Ticket, charge and credit card business
13. Travel Agency Business
14. Airport Coupon and Ticket Business
15. Quarry and mining Works
16. Professional sportsmen
17. Regular armed forces
18. Air & ship crew
19. Sickness insurance
Strike, Riot and Civil Commotion (Free)
Motor cycling (15%)
Football and rugby (10%)
Hunting (15%)
Yachting (10%)
Use of wood working machinery (25%)
Others (refer to Company)
| CLASS 1: | Individuals in less hazardous occupations involving indoor, non-manual work or with office or travel duties such as auditors, accountants, lawyers, architects, bankers, clergymen, clerks, indoor sales representatives, secretaries, stockbrokers, teachers (except those who teach trades) administrators. |
| CLASS 2: | Individuals in semi-hazardous occupations involving outdoor or site work or occasional manual work only when supervising workmen, or superintending or medical duties such as plant superintendent, engineers (not mechanical or electrical),physicians, surgeons, dentists, inspectors, commercial travelers, decorators, grocers, hairdressers, pharmacists, outdoor salesmen, surveyors, teachers of trades and similar occupations. |
| CLASS 3: | Individuals in hazardous occupations of a skilled nature such as electricians, plumbers, electrical engineers, motor and mechanical engineers, butchers, builders (not using machinery), carpenters (not using machinery), fishmongers, farmers (not using machinery) drivers (irrespective whether light or heavy vehicles) and similar occupations. |
| BENEFIT | FOR EACH |
OCCUPATION |
||
AMOUNT OF |
CLASS 1 |
CLASS 2 |
CLASS 3 |
|
| A. Death | RM10,000 |
RM6.50 |
RM 8.50 |
RM11.00 |
| B. Permanent disablement | RM10,000 |
RM 6.50 |
RM 8.50 |
RM11.00 |
| C. Temporary total disablement | RM100 per week |
RM18.00 |
RM25.00 |
RM35.00 |
| D Temporary partial disablement | RM 50 per week |
RM 4.50 |
RM 5.00 |
RM 7.50 |
| E Medical expenses | RM 500 |
RM 8.00 |
RM11.00 |
RM16.00 |
| (Limit any one accident) | RM1,000 |
RM10.00 |
RM15.00 |
RM22.00 |
Minimum premium - RM30.00
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This insurance provides for the payment of certain defined benefits, in the event of the proposer sustaining death or disablement by accidental injury.
The policy compensates the Insured Person if he sustains bodily injury caused by VIOLENT, ACCIDENTAL, EXTERNAL and VISIBLE MEANS. This plan provides broad 24 hour protection, year round.
The Personal Accident Policy grants the following benefits.
| Contingency | Amount of Compensation (One Unit) |
|
| A. | Death only | RM5,000.00 |
| B. | Permanent total disablement resulting in: | |
| Loss of all sight in both eyes | RM5,000.00 | |
| Loss of both hands or feet or one hand and one foot | RM5,000.00 | |
| Loss of all sight in one eye | RM5,000.00 | |
| Loss of one hand or foot | RM5,000.00 | |
| Total paralysis | RM5,000.00 | |
| C. | Temporary total disablement (per week for 52 weeks) |
RM 25.00 per week |
| D. | Temporary partial disablement (per week for 52 weeks) |
RM 12.50 per week |
| E. | Medical expenses (Limit for any one accident) (Optional) (On actual medical expenses for treatment caused by accident) |
RM 250.00 |
1. Suicide and insanity
2. Intoxication by alcohol or drugs
3. Childbirth or pregnancy
4. War and kindred risks
5. Provoked murder or assault
6. Motor-cycling
7. Flying in a non-standard aircraft or as a non-fare paying (non-scheduled flight)
passenger.
8. Hazardous sports e.g. winter sports or sea activities
9. Use of wood-working machinery driven by mechanical power
10. Timber and logging operations
11. Long term disability contracts
12. Ticket, charge and credit card business
13. Travel agency business
14. Airport coupon and ticket business
15. Quarry and mining works
16. Regular armed forces
17. Air and ship crew
18. Sickness insurance
19. Timber lorry driver
1) Strike, riot & civil commotion, murder & assault (free)
2) Use of motor cycle or scooter (free)
3) Taking part in sports, athletics and gymnastics (free)
4) Medical Expenses (Additional premium - RM5.00 per unit)
Eligible Age : 16 to 65 years
Occupational Classification
| Class 1 | Under this class are all those persons engaged in professional or mercantile employment, not superintending nor engaging in manual labour. Examples of persons in this class are doctors, lawyers, accountants, clerks, shop-owners, dentists, nurses, architects and teachers. |
| Class 2 | Persons superintending but not actually engaged in manual labour are included in this class. Examples of such persons are mine managers, foremen, planters, contractors (not working themselves), clerks of works, industrial clerks, printers, storekeepers, tailors, waiters, salesmen, insurance agents and surgeons. |
| Class 3 | Those persons who are either generally or at any time engaged in manual labour fall under this classification. Such persons as bus conductors, drivers, carpenters, electricians, farmers, fishmongers, hawkers, mechanics (no welding), plumbers, rubber-estate workers, shop assistants and watchmen fall within this class. |
| Class 4 | Persons who are engaged in heavy or hazardous occupations: individuals such as lorry drivers, attendants, taxi-drivers and welders in engineering firm. |
| Occupational Classification | Unit Scheme One (RM5,000.00) |
Unit Scheme Two (RM10,000.00) |
| Class 1 | RM 22.50 | RM 45.00 |
| Class 2 | RM 25.00 | RM 50.00 |
| Class 3 | RM 30.00 | RM 60.00 |
| Class 4 | RM 40.00 | RM 80.00 |
Note: Maximum Limit - 2 units only
Medical Expenses Additional Premium - RM5.00 per unit
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The Plate Glass Policy covers breakage of any glass as a result of any accident or misfortune. The policy also covers the cost of any necessary temporary boarding up pending replacement of the broken glass.
On all plain plate glass of ordinary glazing quality and no lettering embossing, bending, silvering or ornamental work on glass.
Property to be insured must represent the replacement value of all the glass insured inclusive of the cost of any writing or ornamentation, if required.
Strike, riot and civil commotion
Automatic reinstatement of sum insured clause
Loss notification clause
Refer to the Company
Minimum premium - RM50.00
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Who needs this insurance?
Professionals such as solicitors, architects, accountants, engineers, surveyors, brokers and the like.
The policy protects the professional (the insured) against any claim for damages which may be made against him for breach of professional duty, by reasons of any negligent act, error or omission in his professional capacity.
Libel and slander
Dishonesty, fraudulent, criminal or deliberate act of the insured.
Liability in respect of any claims if insured is entitled to any indemnity under any other
policy.
Libel and slander
Partner’s previous business
Loss of documents
Dishonesty of employees
The policy is subject to a minimum amount of deductible. However the proposer may opt to carry a higher amount of deductible in exchange for a lower premium.
Retroactive cover can be provided i.e. cover for negligence occurring prior to the inception date of the policy. This cover is usually restricted to between 3 - 5 years.
The proposer selects his own limit of indemnity which he considers adequate to meet any potential claim.
The insured is defined as the firm, practice or company made up of its partners, its qualified professional staff including its clerical or secretarial staff.
1) Annual fees of firm for:
a) Preceding year
b) Current year
c) Projected for following year
2) Duly completed proposal form
3) Previous insurance and claims history
4) Indemnity limit required
5) Background of firm
6) Extensions required
Minimum premium - RM250.00
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Introduction
The Public Liability policy is designed to protect the Insured in respect of his legal liability to pay compensation for accidental bodily injury to or accidental damage to the property of members of the public caused by or through the negligence of the insured or his employees or by defects in the premises and includes legal charges and expenses.
The policy indemnifies the insured against:
A. All sums which the insured shall become legally liable to pay for compensation in respect of:
1) accidental death of or bodily injury to or illness of any person
2) loss or damage to property happening or caused in connection with the insured’s business occurring within the territorial limits.
B. Legal charges and expenses
1) Liability towards insured’s employees
2) Loss or damage to insured’s property
3) Vibration or weakening of support
4) Liability arising from:
a) Vehicles
b) Lifts, escalators, hoist and cranes
c) Pollution
d) Flood
Fire and explosion
Workaway risk
Defective sanitary arrangements
Loading and unloading
Food and drink poisoning
Cross liability
First aid facilities
Neon and advertising signs
All proposals must be referred to the company for acceptance.
To refer to the Company.
1% of limit of indemnity in respect of third party property damage.
1. Annual Policy - RM 75.00
2. Project Risk - RM150.00
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Introduction
This package insurance is designed for hunters who are licensed to own and use sporting guns for hunting or sporting activities.
Loss or damage to guns occasioned by fire, theft or any other accident or misfortune.
Policy covers liability to third party up to RM40,000.00 for bodily injury and/or property damage arising out of the use of or in connection with the sporting guns insured. Authorised legal expenses are included.
| Accident to the policy holder whilst cleaning, carrying or using a gun resulting in: | |
| Death | RM10,000.00 |
| Loss of two limbs or both eyes or one limb and one eye | RM10,000.00 |
| Loss of one limb or one eye | RM 5,000.00 |
| Temporary total disablement (limited to 52 weeks) | RM 50.00 per week |
1) Under Section I loss occasioned by any process of cleaning or wear and
tear.
2) Under Section II the Insured’s own family or property
Within Peninsular Malaysia and East Malaysia Only. For persons between the age of 21 and 55.
Minimum premium - RM100.00
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This policy caters for people who require cover against accidents for the period of their holiday or business trip.
The policy provides compensation if the Insured person suffers death or disablement arising whilst travelling and also affords a 24 hour protection whilst in any country. The policy is similar to the other PA policies. It provides cover against bodily injury caused by violent, accidental, external and visible means.
1) Medical benefits
2) Sickness benefits
3) Hijacking inconvenience
4) War risk
5) Strike, riot and civil commotion
6) Intoxication, insanity, venereal disease or pregnancy
7) Whilst engaged in manual labour or hazardous sports or past-times
8) Insured person engaging in aviation other than as a fare-paying passenger
1) Medical benefits
As there may be quite expensive overseas, the amount payable under this extension is
limited up to RM1,000 for each and every claim.
2) Hijacking extensions
3) Strike, riot and civil commotion
The occupational classification of the Insured is not a factor in determining the exposure in this Insurance. The duration of travel and the capital sum insured are the determining factors in arriving at the premium.
16 to 65 years
Minimum premium - RM20.00
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This is a specially designed personal accident insurance plan for owners of private car or private passenger van seeking comprehensive yet economical cover for occupants travelling in their vehicles.
It provides cover for payment of benefits against death or permanent disablement including reimbursement of medical expenses resulting from an accident while travelling in the vehicle named in the policy.
All occupants (whether driver or passengers) between the ages of 3 years to 65 years are covered when travelling with the permission of the insured. Children between the ages of 3 to 15 are entitled to only 50% of the benefits of the policy.
When injury results in death (loss of life) of the driver and/or passengers in the named vehicle within 12 months from the date of the accident the Company will pay 100% of the capital sum insured per person to the legal personal representative of each deceased person.
When injury does not result in death (loss of life) of the driver and/or passengers in the named vehicle within twelve (12) months from the date of the accident but does result in any of the following losses within the said twelve (12) months, the Company will pay for:
| Percentage of the Capital Sum Insured | |
| Loss of both hands or both feet | 100% |
| Loss of sight of both eyes | 100% |
| Loss of sight of one eye and one hand or one foot | 100% |
| Total paralysis | 100% |
| Loss of one hand or one foot | 50% |
| Loss of sight of one eye | 50% |
Loss as above used with reference to hand or foot means complete severance through or above the wrist or ankle joint, and used with reference to sight of eyes means the entire and irrecoverable loss of sight.
The occurrence of any specific loss for which compensation is payable under Section I & II shall at once terminate all insurance under this policy, but such termination shall be without prejudice to any claim originating out of the accident causing such loss.
No compensation will be paid under any circumstances for more than one of the losses, the greatest, for which provision is made in this section.
When by reason of injury, the insured shall require treatment by a legally qualified physician or surgeon, confinement in a hospital or the employment of a licensed or graduate nurse, the Company will pay the actual expense incurred within twelve (12) months from the date of the accident for such treatment, hospital charges and nurses fees, but not to exceed the aggregate amount payable of RM500.00 per person as the result of any one accident.
This insurance shall not apply:
1) to loss caused directly or indirectly, wholly or partly
a) by bacterial infections (except pyogenic infections which shall occur through an accidental cut or wound)
b) by any other kind of disease
c) by medical or surgical treatment (except such as may be necessary as a result of injuries covered by this policy and performed within the time provided in the policy).
d) by childbirth or miscarriage
e) while the driver is under the influence of liquor or drugs (unless administered under the orders of a hospital or qualified medical practitioner)
f) while the vehicle is used for illegal business pursuit or as an unlicensed common carrier.
g) while the driver is in a state of insanity.
2. to any bodily injury which shall result in hernia
3. to suicide or any attempt thereat (sane or insane)
4. to loss occasioned by war, invasion, act of foreign enemy, hostilities or warlike
operation (whether war be declared or not), civil war, rebellion, revolution,
insurrection, military or usurped power, urban guerilla activities, act of terrorism,
martial law or state siege.
5. to loss occasioned by hijacking (whether politically or criminally motivated)
kidnapping, murder and assault.
6. to death or bodily injury directly or indirectly caused by or contributed to by or
arising from ionising radiation or contamination by radioactivity from any nuclear fuel or
waste from the combustion of nuclear fuel or from nuclear weapons material.
7. to loss occasioned while the vehicle is used for hire, racing, road rally,
pacemaking,
speed testing or use for any purpose in connection with motor trade.
8. to the driver if such driver does not hold a valid driver’s license to drive the
vehicle or is disqualified from holding or obtaining such a valid driver’s license
under the regulations of Malaysia or Singapore Road Transport Ordinances or Acts. This
insurance also shall not apply to the passengers in the named vehicle whilst the vehicle
is being driven by such driver.
9. to person under the age of 3 and over the age of 65.
10.to death or disablement directly or indirectly arising out of or consequent upon or
contributed to by Acquired Immune Deficiency Syndrome (AIDS) or AIDS Related Complex (ARC)
howsoever this syndrome has been acquired or may be named.
| VOI 1 Private Car/Passenger Van (RM10,000.00) |
VOI 2 Private Car/Passenger Van (RM20,000.00) |
||
| Seating Capacity(Including Driver) | Annual Premium | Seating Capacity(Including Driver) | Annual Premium |
| 4 | RM 50.00 | 4 | RM 95.00 |
| 5 | RM 60.00 | 5 | RM 115.00 |
| 6 | RM 70.00 | 6 | RM 135.00 |
| Each additional seat | RM10.00 | Each additional seat | RM20.00 |
Note: Medical expenses per person on both schemes is limited to RM500.00 only
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The policy is issued to comply with section 26 of the Workmen’s Compensation Ordinance 1952. The Ordinance lays out rule & regulations for the employer and his liability to insure the workers. The law also lays down Scale of Compensation which an employer is legally obliged to pay his employees or dependents as the case may be. This cover is compulsory for all employers in Malaysia who do not subscribe to SOCSO.
1) If during the period of insurance any employee in the Insured’s immediate service sustains personal injury by accident or disease arising out of and in the course of employment and if the Insured is liable to compensate for such injury either under the Workmen’s Compensation Ordinance or at Common Law, THEN, the Company will indemnify against all such sums and in addition will be responsible for costs and expenses.
2) An employer can be held liable at Common Law if it can be proved that the injury was caused by the employer’s negligence.
If negligence can be established a workman has the option of either seeking relief or compensation under the Ordinance OR under Common Law. He CANNOT, however, elect to claim both. Common Law compensation can only be successful if negligence can be attributed to the employer and the quantum is based on the injuries sustained and loss of earning capacity. Compensation under the Ordinance is payable regardless of who is negligent
1) WORKMAN
‘Workman’ means any person who has entered into or works under a contract of service or of apprenticeship with an employer whether by way of manual labour or otherwise.
Excluded from this definition are:
a) non-manual workers whose earning exceed RM1,000
b) casual workers
c) domestic servants
d) armed and police forces personnel
e) any member of the family of the employer who lives with him
In the case of (c) above cmpensation laid down in the Ordinance can be obtained by
charging the appropriate tariff rate for such employees.
2) EARNINGS
‘Earnings’ shall include actual money earned, any privilege or benefit being converted into money value excluding:
a) travelling allowances or concessions
b) employer’s contributions towards any provident fund or pension funds
c) any sum to cover special expenses incurred by reason of the nature of his employment
3) VEHICLE NOS
On workmen whose occupation is confined to vehicles e.g. Lorry drivers, attendants and labourers.
4) PROJECT INSURANCES
Contracts are to be insured on the basis of each contract value.
1) War
2) Employees of sub-contractors
3) An employee who is not a ‘workman’ within the meaning of the Ordinance.
1) Public authorities contracts
2) Employees of sub-contractors
3) Joint policies
4) Public works contracts
5) Principal’s liability to insured’s employees.
The premium chargeable is based on a tariff rate stipulated by the WCI tariff and is applied to the wages, declared in the proposal. The tariff classifies occupational trades in alphabetical order and shows what rate to charge, the endorsement applicable and the classification under which falls.
Note: Currently the WCI rate has been reduced by 15% across the board.
Minimum premium - RM35.00
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The insurance cover in respect of loss, damage expenses or liability to the vessel (pleasure craft) and any attachment property, personal accident to owner and passenger defined by Section 1, 2, 3 and 4.
Vessel: The vessel described in the Schedule including her machinery, standard integral components equipment, gear, outboard motors and accessories which would normally be sold with her when changing hands.
Vessel hull: Hull deck, cabin, deck hardware and fixtures and fittings for the use and/or safety of the vessel and below deck normally not remountable and would be sold with the vessel including generators, refrigerators and desalinators, air conditions and hull equipment.
Vessel machinery: Inboard or outboard motors and their drive units whether stern-driven or jet and their transmission boxes, jet units, shafts, propellers, skegs, wiring and control cables.
Vessel equipment: Instruments and electrical equipment not remountale and safety equipment and other equipment intended for the use of the vessel including canopies and covers, anchors, oars, extra fuel tanks, batteries, tools and other equipment normally remountable excluding however property of a personal nature.
Personal effects: Personal belongings of the assured or assured’s family resident at the same address and assured’s guests that do not form part of the vessel’s inventory up to a maximum of RM250 on any one item unless declared to and accepted by the Company.
In commission: When the vessel is fitted and ready for use.
Laid up out of commission: When the vessel is not fitted out or available for use.
Anti theft device: Any effective locking system including alarm or other precautionary measures taken by the assured to maximise the safety and security of the subject matter insured.
Commencement of cover: Cover commences at 0001 hours on the attachment date shown in the Schedule or any renewal notice.
Covers physical loss of or damage to the vessel (hull, machinery, masts, spars, rigging and sails caused by:
1) Fire and explosion
2) Jettison, malicious acts and negligence
3) Theft of vessel, outboard motor, boats or any trailer if insured.
4) Perils of the sea, piracy, earthquake, volcanic eruption or lighting, latent defect.
Cover in respect of legal liability incurred arising out of an accident which given rise to claim for:
1) Bodily injury to or death
2) Loss of or damage to any vessel or property
3) Any attempted or actual raising, removal of wreck of the vessel or any failure to do
so.
(Up to a limit of RM50,000.00)
Covering personal accident to the owner and any extended person (passenger) on death and permanent disablement as result of:
1) Death and/or bodily injury caused directly by violent, accidental and external and visible (sustained whilst embarking, disembarking and whilst on board of the vessel).
(Up to a limit of RM50,000.00 and may be extended to cover any passenger).
Covers against direct physical loss or damage to personal belongings while the property is aboard or being loaded onto the vessel. Applicable only to vessels with lockable accommodations.
(Up to a limit of RM1,000.00)
Institute Yacht Clauses 1-11-85 (CL 328)
Radioactive contamination exclusion clause 1-10-90 (CL 356)
Leased equipment clauses
Racing risk (Sailboat only)
Transit risk
Personal accident for passengers
Dropping of outboard motor
War risk
Speedboat
1) Wear and tear
2) Stratching, bruising and chafing occurring in the course of any transit by road, rail,
air and ferry.
3) Loss or damage to consumable stores, vessel’s own mooring or fishing gear.
4) Racing
5) Accident to or illness of workmen
6) Act of deliberate act or reckless
7) War, civil war, revolution and rebellion.
8) Nuclear and/or ionizing radiation from or contamination by radioactivity from any
nuclear fuel or waste, toxic and explosive.
Subject to an excess as specified to the policy.
Refer to the Company
Minimum premium - RM500.00
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Copyright ©
2001 by Pacific & Orient Berhad
Company Privacy
Statement
Pacific & Orient Insurance Co. Berhad
(No. 12557-W)
11th Floor, Wisma Bumi Raya
No 10, Jalan Raja Laut
50350 Kuala Lumpur, Malaysia
Teleinsurance: 1-800-88-2121
Telephone Number: 03 2698 5033 Fax Number : 03 2693 8145 (General)
Fax: 03 2692 6700 (Marketing) Fax: 03 2693 8490 (Finance) Fax: 03 2694 0936
(Claims)
Email: poi@pacific-orient.com