BOND

BOND

TENDER BOND

A bond that is required during the submission of a tender for a contract. This bond is to guarantee that the contractor will undertake the contract at the tendered terms and conditions if successful in winning the contract.

PERFORMANCE BOND

A bond that is required after the successful award of the contract and within 14 days of receipt of the Letter of Award. This is to guarantee the contractor will fulfil all obligations under the contract at the agreed terms and within the stipulated time frame.

ADVANCE PAYMENT BOND

A bond that acts as security for the advance on progress payment from the Principal, to guarantee that the contractor will fulfil his contractual obligations in progressing the project after receipt of said monies. Advance payment is usually recouped by deducting a portion of the scheduled progress payments.

SUPPLY BOND

A bond that acts as security to guarantee that the supplier will fulfil his obligations to deliver his products or services on the agreed contractual terms. This bond will reimburse the purchaser should the supplier default on the contract.

ENGINEER

CONTRACTORS' ALL RISK

Contractors' All Risk Insurance is designed to provide protection against such losses and damage to the works being carried out or any property damage or bodily injury to third parties in relation to the works carried out.

ERECTION ALL RISK

Similar to a Contractors' All Risk insurance, the Erection All Risk insurance offers protection for the erection, testing and commissioning of machines, industrial plants, steel works and/or structures.

CIVIL ENGINEERING COMPLETED RISKS

The Civil Engineering Completed Risks insurance is designed to protect your civil engineered structures against losses or damages caused by fire, lightning, explosion, storm and tempest, impact damage, landslides, and other malicious damage.

MACHINERY BREAKDOWN

The Machinery Breakdown insurance is designed to offer you protection against unforeseen and sudden breakdown of the expensive plants and machinery used for business.

MACHINERY BREAKDOWN LOSS OF PROFITS

While the Machinery Breakdown insurance was designed to protect against the loss or damage of machinery during operations, Machinery Breakdown Loss of Profits insurance is a complementing product to offer protection against the loss of profits and revenue arising from the cessation of production pending the repairs and/or replacement of production machinery.

ELECTRONIC EQUIPMENT

Computers, data processing and other such electronic equipment can sometimes be sensitive to interferences and other mishaps, be it electrical or human. Replacing and restoring lost data can be a very painful experience, however, with the Electronic Equipment insurance, it will lessen the pain by offering protection against material damage of said equipment.

BOILER PRESSURE VESSEL

Even with the best of care taken, when working with boilers and other pressure vessels there is always the danger of it exploding and consequently causing damage to own property and/or third parties. The Boiler & Pressure Vessel insurance was crafted to offer protection against such unforeseen losses and damage.

STORAGE TANK

Bulk storage tanks, by nature of its size and purpose, are susceptible to many forms of damage, such as bursting, rupturing, collapse, impact damage, etc. So protect yourself from the possibility of such unforeseen losses with the Storage Tank insurance.

DETERIORATION OF STOCKS

Saunas and heat treatments were meant for the enjoyment of humans, and frozen goods should be left in that state. However, that is not always the case, whether from power failure at the cold room or a breakdown of a freezer truck, frozen goods may be damaged or deteriorate. The Deterioration of Stock insurance was crafted to offer you protection against unforeseen material damage of goods as a result of temperature fluctuations.

FIRE

FIRE & ALLIED PERILS

This insurance policy protects you against losses incurred from loss or damage to your property by fire, lightning and explosion caused by gas used for domestic purposes. This policy can also be extended to cover against losses due to

Aircraft and other aerial devices and/or articles dropped therefrom

  • Earthquake and volcanic eruption
  • Storm tempest
  • Flood
  • Explosion
  • Impact damage
  • Bursting or overflowing of water tanks, apparatus or pipes
  • Electrical installation
  • Bush / lalang fire
  • Subsidence and Landslip
  • Riot, Strike and Malicious Damage
  • Spontaneous Combustion
  • Damage by Falling Tree or Branches
  • Leakage of Sprinkler system
  • FIRE CONSEQUENTIAL LOSS

    Losses suffered do not necessarily arise directly from the property destroyed by the fire but also as a consequence of the fire. This insurance policy will indemnify you against loss of profits or revenue, loss of rental and wages paid and other increase in costs of working due to business interruptions as a result of fire and/or the extended perils. This insurance policy acts to protect the insured from further losses in conjunction with their Fire & Allied Perils policy.

    HOUSEOWNERS & HOUSEHOLDERS

    HOUSEOWNERS insurance provides coverage for residential buildings only against loss or damage arising fire and the named perils with the addition of theft if there is evidence of forcible entry and liability to third parties for accidents on the premise.

    HOUSEHOLDERS insurance provides coverage for the contents and personal effects used in a residential environment only against loss or damage arising from fire and the named perils with the addition of theft if there is evidence of forcible entry and liability to third parties for accidents on the premise.

    PACKAGE INSURANCE FOR CONDOMINIUMS

    We can appreciate how overwhelming it can be to purchase and monitor the different kinds of insurance needed to cover the various risks of damages and losses that can be incurred in a day in the course of business. From liability towards guests and members of the public entering your premise to fire to theft and burglary, to the breakdown of lifts and machinery, to the fidelity of employees, there are a wide range of risks and policies that can and should be purchased. To ease the pain of monitoring and deciding what insurances to purchase and what not to, we have several customised package plans available that comprises of all these risks and more. One plan at one premium with multiple covers, how much more convenience can a person ask for?

    INDUSTRIAL ALL RISK

    Industrial All Risk insurance is offers a two pronged protection for businesses. The first part of the policy protects the entity from loss and damage arising from fire and its allied perils to its assets, i.e. non-residential buildings and its contents, furniture and fittings, equipment, stocks in trade, etc; while the second part protects against loss of income or profits caused by losses that the first part of the policy would respond to.

    Understanding that all businesses are not the same, nor do they have the same requirements, the standard cover given under this policy can be extended to meet your requirements.

    CROPS

    Just as buildings and other physical assets can be destroyed by fire, so too can trees, plants and other vegetation. With less resistance to fire than bricks and cement, fire hazard is a risk that is very real and spreads rapidly. The Fire Insurance for Crops was designed to protect against losses incurred in having to treat or replant damaged trees.

    FOREIGN WORKERS’ INSURANCE

    FOREIGN WORKERS INSURANCE GUARANTEE (FWIG)

    This insurance guarantee is a bond required by the Malaysian Immigration Department to cover any repatriation and penalty costs incurred should they require the worker to be returned to his/her country of origin before the completion of his/her work contract in Malaysia. These bonds should have a standard validity of eighteen (18) months or more in accordance to the worker’s nationality.

    FOREIGN WORKERS COMPENSATION SCHEME (FWCS)

    Under Section 26 of the Workmen’s Compensation (Amendment) Act, 1996, employers in Malaysia are required to insure their foreign workers under this insurance scheme. The FWCS coverage includes accidental death, permanent disablement, temporary disablement, hospitalisation and medical expenses, and repatriation expenses.

    FOREIGN WORKERS HOSPITALISATION & SURGICAL INSURANCE SCHEME (SPIKPA / FWHS)

    Employers are also required to insure their foreign workers under the FWHS / SPIKPA to assist with the burden of hospitalisation and surgical costs in the event of accident or illness during their stay in Malaysia. This policy carries a standard annual limit of RM10,000.00 and allows insured foreign workers cashless admission into government run hospitals nationwide.

    MARINE

    MARINE CARGO

    This insurance is to cover the risk of loss or damage to the goods during the movement, whether via sea or air transport, from one location to another worldwide including incidental storage. Unlike other insurances where insurable interest or proof of ownership needs to be presented in order to purchase the cover, Marine Cargo insurance can be purchased by either Buyer or Seller (or Owner when relocating) subject to the sales contract terms which can be Free On Board (FOB), Cost & Freight(C&F) or Cost, Insurance & Freight (CIF).

    INLAND TRANSIT

    Inland Transit insurance is similar to the Marine Cargo insurance, however, it is restricted to land conveyance only, be it by road or by rail.

    HULL & MACHINERY

    Having insured the cargo being carried on the vessel, owners of the vessels itself may protect themselves against the loss or damage to the ships and its equipment when in the open sea. Specialised cover can also be arranged for other offshore or support vessels or yachts and pleasure crafts. The policy can also be extended to cover liability on accidental material damage or bodily injury to third parties.

    SHIPBUILDERS’ ALL RISK / SHIP REPAIRERS’ ALL RISK

    As in all construction work, there is a risk of damage to the materials and work before completion and handing over to your client, and this is no different when building a house or a ship. The Shipbuilder’s All Risk Insurance is there to offer peace of mind from the laying of the keel to the final delivery and sea trials.

    MISCELLANEOUS

    MOBILE EQUIPMENT ALL RISKS

    All construction projects require the use of heavy and/or light machinery and other equipment, which may be stolen or damaged by the weather/elements and/or human negligence. Loss of use of the machinery and equipment during construction can be a major inconvenience at the least or a total nightmare at the worst; and such losses can be costly to your company even without the burden of the cost of repairs or replacement. Manage your losses by letting us bear some of that risk with an Equipment All Risk Insurance policy.

    BURGLARY

    In today’s society and environment, thieves do not only come under the cover of night but also in bright day light by force and violence. Protect yourself against such losses of your property, be it your home or your office, by purchasing a Burglary Insurance.

    FIDELITY GUARANTEE

    While we would like to believe in the honesty and integrity of our employees, there is always the risk of this trust being abused, leaving employers and business owners completely unprepared to face this negative situation. You can now protect yourself and/or your business from direct monetary or material losses due to the dishonesty and fraudulent acts of your employees with the Fidelity Guarantee insurance.

    GOLFER

    >Golfing may be a good form of exercise, however, it is not without its inherent risks either. Flying golf balls may make unfortunate contact with bystanders and other objects, clubs and equipment can be stolen or damaged, and accidents can happen. Putting aside the negatives, even the happy event of a hole-in- one can be a bit painful on the pocket when celebrating. So, protect your peace of mind and enjoyment of the game with a Golfer’s Insurance policy and let someone else feel the pinch. This policy can be extended to include your family too.

    MONEY

    Holding large amounts of money can be a situation of concern in today’s environment, even with fire proof safes and other such additional security measures not being a guaranteed deterrent against theft and burglary. Hence the Money insurance was created to protect you from unexpected financial losses from theft or burglary whether in transit to the bank or at your premise.

    ALL RISKS

    Just as your machinery and mobile equipment are vulnerable to being stolen or damaged by the weather/elements and/or human negligence, more so are the machines and mobile equipment in your office. The All Risks insurance protects you from losses due to damage of your property due to fire and its allied perils.

    PLATE GLASS

    While the main ingredient of glass may be sand, a relatively cheap substance, replacing glass windows, doors or walls in the event of accident is anything but. Hence, the Plate Glass insurance that protects you against any losses due to breakage or fracturing of these glass plates as a result of accidents.

    MULTI BIZ-PROTECTOR / SMART RETAIL

    With all the insurances available and should be purchased to protect yourself and your business from losses, choosing what to purchase, how much to purchase and monitoring the renewals of the policy covers for multiple insurance policies can be an overwhelming exercise. You can simplify matters with this package insurance that covers fire, burglary, money, plate glass, public liability and employers’ liability in one single policy.

    SAFE DEPOSIT BOX

    Do you know that moneys deposited in registered banks in Malaysia may be covered by PIDM, but the renter’s personal valuables kept in the banks’ safe deposit boxes are not protected by any entity? You protect your valuables from fire and burglary at your home by keeping them in a secured safe deposit box, now you can continue to protect and make them safer with the Safe Deposit Box insurance.

    MOTOR

    MOTOR INSURANCE

    Owning a vehicle can be a convenience, a luxury or a headache. Let our consultants assist to enhance the pleasure and ease the headache of owning a vehicle when encountering road accidents, and theft or loss of your valuable assets. From insurance and road tax renewal to claims management in the event of an accident, our team of experienced consultants are ever ready to assist you.

    1. Car & Motor Comprehensive Cover

  • Private Car
  • Motorcycle
  • Commercial Vehicle
  • Motor Trade
  • 2. Car & Motor Third Party Cover

  • Private Car
  • Motorcycle
  • Commercial Vehicle
  • Motor Trade
  • 3. Car & Motor Third Party, Fire & Theft Cover

  • Private Car
  • Motorcycle
  • Commercial Vehicle
  • Motor Trade
  • ROAD SIDE ASSISTANCE

    Accidents and breakdowns are situations we can’t totally prepare for. So don’t allow yourself to be caught unprepared and vulnerable to unscrupulous third parties and/or dangerous situations. Protect yourself and your loved ones by signing up with our 24 hour emergency road side assistance service. Flat tires, flat batteries or over heated radiators will no longer be cause to turn your hair white.

    1. Road Warrior

    2. Enhanced Road Warrior

    3. Bike Warrior

    LIABILITY

    PUBLIC LIABILITY

    Public Liability Insurance is a very highly recommended policy for businesses with their own premise and more than average traffic of visitors. This insurance covers liability to third parties due to your company’s negligence in terms of losses or damages to property or bodily injury suffered while on the premise.

    COMPREHENSIVE GENERAL LIABILITY

    Similar to the Public Liability policy, the Comprehensive General Liability policy indemnifies the insured against any liability to third parties for property damages or bodily injuries suffered not just on premise but also as a result of the insured’s performance of their contract work. In addition, this policy will also pay for the legal costs and expenses incurred in defence of the insured. This policy’s coverage can be further extended to include other liabilities such as contractual liability, etc if so required.

    DIRECTORS’ & OFFICERS’ LIABILITY

    Director’s and Officer's Liability insurance offers a measure of protection against any liabilities to the directors' and officers' arising from the directors' and officers' actions and words. Section 140(1) of The Malaysia Companies Act, 1965 prohibits a company from indemnifying their director's and officers' accused of wrongful acts until proven innocent. In the meantime, they'll have to bear their own legal costs and expenses. This insurance will cover these costs and expenses and help protect the directors' and officers’ personal assets.

    EMPLOYERS' LIABILITY

    This policy indemnifies employers against any legal liability to pay any compensation, cost and expenses to their employees who are not protected by The Workmen's Compensation Acts or SOCSO, in the event of accidental bodily injury or disease arising during the course of their employment. This policy covers all incidences arising from the insured’s and its employees' negligence.

    PRODUCT LIABILITY

    The Product Liability insurance indemnifies manufacturers and distributors against legal liabilities arising from the malfunction of their products. This policy coverage can also be extended to cover the cost of recalling the product from the market. In the event of a product failure, in addition to the cost of compensating the consumer for any damages and resultant damages, the costs incurred to recall said products could also be a costly exercise to the manufacturer.

    PROFESSIONAL INDEMNITY

    The Professional Indemnity (or Errors & Ommissions) insurance will indemnify the insured against any legal liability arising from any negligent act performed or wrongful advise given by their employees while acting on behalf of the company in their official capacity. This policy coverage includes defence costs, and damages/ settlements imposed by the courts.

    MEDICAL MALPRACTICE INSURANCE FOR MEDICAL ESTABLISHMENTS

    This insurance indemnifies medical establishments, be they private healthcare clinics or hospitals, against any legal liabilities arising from wrongful practices resulting in property damage, bodily injury, and medical expenses including the cost of defending the insured against such claims. Medical Professionals will need to purchase their own malpractice insurance.

    SPECIALISED RISKS

    ENERGY

    The global energy industry is a complex mix of risks in every step along the process chain, from exploration to production and processing to logistics and storage. Downstream, midstream or upstream, each stage and each company has its own unique risks and dangers, making each energy insurance policy unique in itself. Hence, the insurers have a team of risk professionals on hand ready to assist in assessing your risks and proposing a risk solution best suited to your needs.

    POWER & UTILITIES

    Society today, with all its advancements, is completely reliant on energy sources to sustain everyday activities, be it at home, at play or at work. Consequently, blackouts and power interruptions can be inconveniences at the very least or nightmares of critical proportions it continues for extended period of time, especially in the medical establishments. The insurer’s team of risks specialists, with first hand understanding of the industry and its inherent risks, are ready to assist with a risk assessment and customising a risk solution. Other value added services include business continuity and crisis management support.

    TRADE CREDIT

    It is every company’s goal to grow their business and profits. However, as the business grows, payment/credit risks to customers will increase and along with it the risk of irrecoverable bad debts. This in turn will have a negative effect on the company’s performance and growth. Trade Credit insurance offers the insured protection against the risk of insolvency due to irrecoverable bad debts, thereby improving its access to additional financing for further growth of the company.

    AVIATION

    Just as their marine and land cousins, aircrafts can and should be insured against possible and unforeseen losses. Also like other forms of passenger and cargo carrying conveyance, owners of aircrafts can suffer losses in the form of physical damage to the planes, and also liability to their passengers and other third parties who may suffer losses. In addition to the aircrafts themselves, aviation insurance can also cover the aircraft hangars, helipads, etc.

    EXTENDED WARRANTY

    Most new electrical and electronic goods and its components and parts today come with the standard 6 months or 12 months warranty period, which can sometimes be insufficient a time period. Hence, you now have the option to purchase the extended warranty insurance for your peace of mind.

    HOSPITAL & SURGICAL

    GROUP HOSPITAL & SURGICAL INSURANCE

    The most valuable assets in a company are its staff. You can protect them with an insurance policy to cover any unforeseen medical expenses that crop up. With a staff force of five and above, group policies are available upon request.

    PERSONAL HOSPITAL & SURGICAL INSURANCE

    While conscientious employers may cover their staff under their group policies, families are not always included. Do not leave your loved ones vulnerable and without protection. Individual and family policies are also available upon request.

    TOP UP HOSPITAL & SURGICAL INSURANCE

    For individuals who are concerned that their current hospital and surgical insurance coverage may not be sufficient, top up policies and boosters are available at request.

    PERSONAL ACCIDENT

    PERSONAL ACCIDENT

    This policy provides compensation in the event of bodily injuries, disabilities or death caused by accidents.

    TRAVEL PERSONAL ACCIDENT

    Travelling, whether for pleasure or for work, is not without its own set of headaches. Take some stress off yourself with a travel insurance that offers compensation in the event of accidental death, permanent disablement, medical expenses, travel and/or luggage delay. This policy also offers an emergency medical evacuation and repatriation programme benefit.