القائمة الرئيسية
info@pic-pal.ps
1800666222
Non-Motor Insurance
Non-Motor Insurance

Non-Motor Insurance (General Insurance)

Palestine Insurance Company offers a variety of insurance programs designed to meet the needs of individuals and institutions. This includes:

Banker's Blanket Bond insurance

This policy provides a bundle of comprehensive insurance covers for banks and financial institutions to protect them against financial losses that may arise during financial operations, including:

  • Cash in safe / on premises (including securities and precious metals)
  • Cash (and cash equivalent) while on the counter
  • Cash in transit (excluding loss, misplacement or damage caused by the presence of funds in the possession of mail or customs or fortified cars because they have another type of insurance)
  • Infidelity of Employees (Forgery, dishonesty, misconduct, theft, damage to content…etc.)
  • Forgery (Forged currency, checks, securities)

Legal or Public Liability Insurance

Covers the Legal Liability of the insured that may arise towards Third Parties as a result of an accident during the insurance period. Which may cause bodily injury and/or material damage to the property of a Third Party. However, the accident must take place at the insured location of the insured

Limit of Indemnity: normally, there is a limit of indemnity for Any One Accident and a limit for the insurance period. The limit is determined based on the nature of business of the insured, the location and the potential risk. This type of insurance can be used by commercial stores, showrooms, companies and institution to cover the visitors.

Deterioration of Stock

This coverage is provided to companies that operate refrigerating warehouses (cooling) or to restaurants. It indemnifies the insured for the damage or deterioration that could occur to the stored goods in the refrigerators as a result of malfunction or breakdown in the machinery of the refrigerating equipment. This cover is contingent and given along with a Machinery Breakdown insurance policy for refrigerators and cooling machinery.

Plate Glass Insurance

This insurance indemnifies the insured against any loss or damage to the Plate Glass installed on buildings, as a result of sudden and unforeseen accident up to the limit declared by the insured.

Accidents covered may include: storms, earthquakes, fire, lightening, external explosions, burglary and riots.

The insured is indemnified in case of glass damage up to the limits stated in the schedule as follows:

  • Reimbursement or replacement of the damaged glass
  • Or; covering the cost of fixing the damaged glass temporarily until replaced

The Annual Premium is determined as a percentage of the Total Insured Value and/ or the limit of indemnity during the insurance period 

Electronic Equipment Insurance (EEI)

EEI indemnifies the insured for any material damage to electronic equipment and computers against any all sudden and unforeseen losses. Coverage also includes fire, lightening, water damage, burglary and damage that results from electrical disturbance during installations and maintenance.

Cover can be extended to include increased cost of working and the cost of restoring lost data as a result of a covered accident.

The sum insured is calculated based on “new replacement value” of the same equipment in addition to shipping, clearance and installation costs

Product Liability Insurance

This insurance covers the legal / civil liability of producers, distributors or organizations that are responsible for testing products, against bodily injury or material damage towards Third Parties as a result of using the subject products or goods.

Against workers' injuries Insurance

This type of insurance covers the compensation of employees and workers of the insured for bodily injury, death, permanent total disability, permanent partial disability and / or temporary disability as a result of accidental accident suffered during the insurance period during:

  1.  Practicing his / her work during the official working hours.
  2. During his / her assignment on any official work assignment outside his place of work during official working hours.
  3.   While traveling / to and from work, provided that he conducts the usual methods.

The insurance coverage may also be extended to include overtime, public holidays and holidays if explicitly stated in the insurance and an additional premium is charged

Engineering insurance

Engineering Insurance consists of several insurance types, including:

  • Contractor's All Risk (Project or construction) insurance

Provides necessary financial protection to owners and/or contractors of a "project" if the project requires repairs or replacements as a result of a sudden unforeseen loss or damage during the implementation and/or maintenance. Coverage includes:

 

  • Insurance of project works, materials, equipment and machines from comprehensive hazards such as fire, breakage, damage, theft, landslides, floods, rain, earthquakes and volcanoes.
  • Workmen's Compensation insurance
  • Removal of Debris: covers the removal of debris and remains as a result of a covered accident
  • Third Party Liability (public liability)

 

Coverage can be extended to include Sub-contractor (Plumber Contractor, Electrical Works, main Contractor Structural Construction Contractor)

 

  • Erection All Risk Insurance
  • Machinery Breakdown Insurance
  • Contractor's Plant and Machinery Insurance
  • Electronic Equipment Insurance
  • Deterioration of Stock Insurance
  • Loss of Profit following Engineering insurance

Marine insurance

This insurance is considered one of the oldest types of insurance. Marine insurance can be classified to two main types:

  1. Marine Hull Insurance:
  • The ship hull
  • Liabilities of the ship
  1. Marine Cargo Insurance

Insuring goods transportation by sea, land and air.

 

Money insurance (Cash in Transit and in Safe)

The workplace may be subject to burglary during or outside working hours, or money may be stolen while in transit from the insured's offices to the bank or vice versa.

Money insurance policy, whether in transit, in safe or in the drawers, compensates the insured for their losses.

 

Premium Calculation

The premium is calculated on the basis of the estimated annual amounts held in safe and in transit, and prices vary according to the size, nature, risk location, security measure, and claims history.

Fidelity Guarantee Insurance

This policy provides compensation to the insured in case they suffer a direct financial loss as a result of acts of infidelity from one of their employees as a result of:

  • Fraud in accounts
  • Embezzlement
  • Illicit seizure
  • mismanagement and misconduct
  • Fraudulent fabrication, allegation and lying

Losses include cash, checks, securities, number forgery, manipulation and theft of inventory.

 

Professional Indemnity insurance

This insurance provides coverage for legal liability made by third parties against the insured under the following circumstances:

  • For accidental loss or damage to property that belong to a third party
  • Bodily injury or death to a third party.

 

This policy provides insurance coverage for licensed professionals or specialists such as:

  • Engineers and architects
  • Lawyers, accountants and auditors
  • Professionals and service providers in media and technology
  • Medical professionals, hospital workers.

Travel insurance

With Travel insurance, we give you a peace of mind at reasonable prices! In case of an emergency abroad the country, whether for work or pleasure and recreation. The company has signed an agreement with AFRO ASIAN  assistance company to provide the service you need if you are injured or sick in any country you may go to around the world 24 hours a day. In addition to other beneifts

Household Comprehensive insurance

Household Comprehensive insurance provides insurance coverage to suit your needs.  Coverage includes buildings, house contents, personal accidents, rental costs and alternative homes in the case of an emergency. In addition to the public liability of the insured.

Personal Accident Insurance

Through this program offers insurance against personal incidents for individuals and compensation to subscribers (policyholder) for disabilities resulting from accidents. Compensation is made to subscribers or beneficiaries in case of subscribers’ death taking into consideration the flexibility required to meeting any special insurance needs.

Property insurance (Fire and Natural Perils)

This policy provides wide insurance coverage against risks, and is the ideal choice for commercial and industrial establishments, for your buildings and contents against the following risks:

  • Fire, lighting and explosions
  • Storms, tempest, floods and earthquakes
  • Insurance against damage from road accidents and objects falling from the sky and water leakage
  • The policy provides insurance coverage against loss of profits that may result from insured incidents, including the following:

  • Net profit
  • Insured fixed general expenses
  •  

    Premium Calculation:

    The premium is calculated based on a percentage (per-mill) of the total sum insured, determined based on the nature of the building and elements of hazards and safety measures.

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