Employers Liability

Employers Liability Insurance Cover

This policy offers protection to employers for their legal liability (under Common Law), for damages and claimant’s costs and expenses of lawsuits filed by an employee. The Liability would arise if an employee in the insured’s immediate service dies or is injured out of or in the course of their work, through any perceived negligence on the employer’s part.

The policy also reimburses the insured for the expenses they may incur in the course of defending any such action/lawsuit.

It is important to note that the employee reserves the right to sue the employer for negligence despite having been compensated under the Workmen’s Compensation (Act) or a Group Personal Accident policies for a work-related injury or accident.

The cover is usually arranged on the basis of the employee’s earnings.

Goods in Transit

Goods In Transit

If you run a transport business, this insurance policy covers the goods in transit by a prescribed motor vehicle, either owned or hired, against all risks including road risks unless specifically excluded from the point of loading to unloading of the goods and temporal housing in the course of transit within the prescribed territorial limits.

This insurance cover must be taken with a motor comprehensive cover.

The policy runs between the point of loading of the risk and unloading of the risk at the point of destination.

Marine Insurance

Marine Insurance

Do you transport goods frequently via air, sea, road or rail to the point of destination?

Marine insurance is divided into three categories;

  • Marine Cargo Insurance
    Marine cargo policy is a transit risk policy covering the movement of cargo from a specified point to the point of discharge
  • Marine Hull Insurance
    Covers the vessel or craft from being stranded, sunk or capsized, over tuning or derailment, collision or contact of vessel or craft with any external object other than water, fire, lightning, and explosions
  • Third-Party Liabilities
    Covers the crew and passengers on board against any injuries or death while on board, this section also covers third party property against accidental damage but in most cases, all the cargo being carried in a ship the owners have already arranged for alternative insurance for the property.
Perils Covered
  • Perils of the Sea– fire, explosion, storm, sinking, collision with other objects in the sea other than water, earthquake, volcanic eruption or lightning
  • War & SRCC Perils-war, riot, strike and civil commotion
  • Extraneous Perils- non-delivery, rainwater damage, oil damage, overheating, denting, chipping, breaking.

Contractors All Risk

Contractors All Risk Cover

An all-risk cover best suitable for contractors undertaking building and civil engineering works, therefore, covering risks surrounding the construction process of an actual property being built or developed in a contract site.

Scope of Cover:
  • Contract works
  • Contractors Plant and machinery
  • Third-party liability

Fire and Perils

Fire and Perils

A Fire policy (basic cover) will provide cover for damage or destruction to insured property by Fire, lightning or explosion of domestic appliances.

The Fire & perils is an extension of the basic cover and will extend to include the following additional covers:-

  • Riot & Strike
  • malicious damage
  • Explosion
  • Special Perils (water perils of flood, blocked drains etc)
  • Earthquake
  • Bush Fire etc.

Important information required in assessing a fire risk will include:-

  • The value of property (Buildings, contents like furniture, stocks etc)
  • The nature of business / occupancy of the building
  • The nature of construction.
  • Location of the premises
  • State of housekeeping
  • Fire Fighting appliances available.

We recommended our clients obtain a professional valuation of properties such as buildings, plant & or machinery to ensure that they are adequately
covered.

Other items that can be insured under this policy include:-

  • Loss of rent following a fire
  • Loss of contents of underground tanks following an earthquake and earthquake cover for the swimming pool.

Burglary Cover

Burglary Cover

Covers damage arising from theft following upon an actual forcible and violent entry to or exit.

Attempt there to such building(s) for which the insured is responsible.

Benefits

The policy covers loss resulting from forcible entry or exit into or out of the insured’s building/ premises. All points of entry, therefore, must be protected by adequate security devices.  Great care should be taken to ensure that the proposal form is accurately and fully complete.

Livestock Insurance

Livestock Insurance

The insurance covers the insured for specified perils leading to the death of the insured animal.

The insured will be indemnified in the below circumstances;

  • Accidents: lightening, internal and external injuries, electrocution or flooding.
  • Illness or disease.
  • Epidemic: widespread outbreak of an infectious disease affecting many animals at the same time in a region.
  • Emergency slaughter on the advice of qualified veterinary surgeon following an accident, illness or disease.
Benefits

It’s an all-risk cover for livestock unless specifically excluded.

Crop Insurance

Crop Insurance

What is covered?

Physical loss of or damage to growing crop directly caused by:

  1. Drought.
  2. Uncontrollable pests and diseases.
  3. Hailstone damage.
  4. Flooding of the crop field.
  5. Fire and lightning.
  6. Malicious damage.
  7. Earthquake.
  8. Riot and strike.
  9. Explosion.
  10. Windstorm

The cover can be extended to include harvested yield whilst stored at the farm or any other place of temporary storage and in transit to any recognised buyer within the country.

Crops covered

Wheat, Barley, Oats, Rye corn, Triticale, Canary Seed, Millet, Panicum, Sorghum, Maize, and Rice among other monocotyledon crops.

Pea, Bean, Lentil, Vetch, Canola, Kale, Mustard, Lupin, Safflower, Sunflower and Linseed among other dicotyledonous crops.

Why should every farmer have this protection?
  1. Guarantees that your investment is not lost should any of the insured events occur
  2. Secures your income by making sure you get compensated
  3. Your bank will consider you a better customer to lend money knowing that their money will be repaid in all circumstances.

Domestic Package

Domestic Package

Are you a homeowner? This is the policy for you. Sidian Bank Domestic insurance covers damage to  residential premises (house/ apartments, walls, fences, and gates) caused by;

  • Fire, lightning, thunderbolt, earthquake or subterranean fire
  • Explosion
  • Riot & strike
  • Aircraft or another aerial device
  • Bursting or overflowing of a water tank apparatus or pipe
  • Theft accompanied by actual forcible and violent breaking
  • Impact with the buildings by any road vehicle or animal not belonging to the insured
  • Storm or tempest

The policy covers the contents, furniture, and fittings, all risk items such as phones, jewelry, laptops, and other portable items.

It also covers the domestic servants of the insured and, the liability of the insured to third parties as an owner or occupier of the premises.

Money Insurance

Money Insurance

Do you run a company that deals with money transfers? Sidian Bank Money Insurance is a risk policy that covers for loss of money in direct transit or on-premises including damage to safes or strong rooms caused by theft attempt.  Money which unless otherwise stated refers to cash, banknotes, cheques, money orders and postage stamps.

  • Money insurance cover is an accommodation class and must be taken with other insurances.
  • Scratch cards may be covered separately but on condition that they are put in a safe outside business hours.

Travel Insurance

Travel Insurance

Travel insurance is a 24-hour worldwide cover designed for travelers on honeymoon, business trips, education, medical grounds or leisure.

The policy covers for;

  • Worldwide medical and hospital expenses including medical evacuation
  • Accidental death and loss of limbs
  • Luggage compensation
  • Travel delay
  • Flight cancellation
  • Personal legal liability

Work Injury Benefits Act

Work Injury Benefits Act

Indemnity to the Employer against legal liability under the WIBA Act (2007) and awards for bodily injury, medical expenses and funeral cover arising by accident or disease caused to employees covered by WIBA only and occurring during the period of insurance and arising out of and in the course of that employment by the employer in the business, subject to the terms, jurisdiction clause, exceptions, conditions, and warranties, of the Company’s WIBA Policy.

WIBA policy covers both accidental and occupational risks.

Benefits
  • Death: 96 months (8 Years) salary subject to maximum limits
  • Permanent Total Disability: 96 months (8 Years) salary
  • Temporal Total Disability: Maximum 52 weeks
  • Medical Expenses: Actual Expenses incurred but limited to Kshs.100, 000/- Per employee
  • Funeral Expenses: Kshs. 30,000/- per death
Factors to consider in rating:
  • Trade
  • Specific occupation of the employees
  • Client, Proposer (for purposes of gauging moral hazards)
  • Location – pressure of ambulance chasers.
  • Experience (claims)
  • No. of employees.

All Risks Cover

All Risks Cover

Sidian Bank All Risk Insurance is a policy that covers loss arising from all the risks specified unless those that are specifically excluded. This class of insurance is designed to cover delicate or valuable items or movable office equipment, generators etc. This policy is on accommodation only.

Benefits

Protects property insured against all risks unless specifically excluded.

Health/Medical Insurance

Medical Insurance

The agency provides medical insurance for both corporates, individuals and groups and we can tailor make products to suit individual and corporate needs.

Sickness or injuries already weigh you down, the bills shouldn’t. Protect yourself and your family from out-of-pocket costs of illnesses or accidents with our expertly designed health insurance cover options.

  • Inpatient
  • Outpatient
  • Dental
  • Optical
  • Maternity Cover
  • Funeral Cover
  • Pre- existing and Chronic Condition covers

Benefits

Our group, individual and family medical insurance covers include all the benefits the healthcare requires. Plus, you get a plan backed by people who care about your well-being. You’re in control of the decision, and Sidian Insurance makes it easy to decide.

Depending on the nature of policy taken, a comprehensive medical cover pays for: Maternity costs for deliveries All doctors’ fees Bed charges including food in cases of hospitalization X-ray and laboratory costs Prescribed drugs and dressing Treatment of chronic conditions such as cancer. Optical Dental We are able to offer you a unique health tailored solution with the best insurance providers.

Personal Accident Cover

Personal Accident Cover

The policy will provide monetary payments in the event of bodily injury sustained by the insured. It covers injury caused by violent, accidental, external and visible means subject to the option selected by the insured.

Benefits

The cover is available as follows:

  • Death
  • Permanent total disability
  • Hospital cash
  • Medical expenses

Life Assurance

Life Assurance

Planning for the future is a hard task since it is unpredictable and nobody knows about tomorrow. Life insurance policy is a policy that provides financial safety to an individual’s beneficiaries in the event of untimely death or permanent disability.

Life Assurance Policies

Endowment Policy

In this policy, an individual has two options, in the unfortunate event of death within the stipulated time, the individual’s beneficiaries receive the sum assured; and if the individual lives beyond the time agreed on the policy the premiums paid plus the benefits and bonuses accrued are paid out to the assured.

Term Life Policy

The assured and the insurer agree that the assured shall pay a certain amount after a certain period in the unfortunate event of death. If the assured dies within that period of insurance, the insurer pays the sum agreed upon to the beneficiaries. If the individual lives past the agreed upon period, the premiums paid to maturity of the policy are not paid back to him/her.

Whole Life Policy

Under this policy, there is no agreed time and the individual continues to enjoy the benefits of the policy until his/her demise. In this type of policy there is no risk of losing premiums since the policy will run to maturity i.e. the death of the assured and hence a surety of sums agreed being paid out to the beneficiaries.

Money Back Policy

The beneficiaries receive periodic payments in the unfortunate event of death of an individual. If the death occurs within the policy, the beneficiaries receive full sum insured.

Benefits

Death comes unexpectedly and as a result of this many families face financial difficulties, especially if you are the bread winner. Our Life assurance products offer peace of the mind, knowing that your loved ones will be able to meet their financial obligations in the event of your untimely demise.

Sidian Farewell Plan

Sidian Farewell plan

This is a quick cash payout that helps families manage the burden of meeting funeral costs and debts you may have when you pass away.

Benefits

Provide funeral benefits for the main member, spouse and up to 4 children.

Payment done within 48hrs after claim has been launched  and relevant documents provided.

Credit Life

Credit Life

This is an insurance policy that you as a borrower can take out to pay your lender at a time when you can’t pay the loan installments due to death, retrenchment or when you are permanently disabled.

Benefits

Life is unpredictable and death comes unexpectedly as a result of this many families face financial difficulties, especially if one had a loan facility, having Sidian credit insurance policy pick up your loan payments can be a big help at a very stressful moments.

Motor Insurance

Motor business shall be categorized into:

  1. Motor private
  2. Motor commercial: PSVs, Lorries, Tractors, Trailers, and Motor Cycle.
Benefits

The motor comprehensive insurance policy can be extended to cover the below benefits

  • Windscreen cover
  • Riots and strikes and civil commotion cover
  • Special perils cover (Volcanic eruptions, floods, hurricanes, typhoons, earthquakes,
  • sub-terrene fires)
  • Medical expenses
  • Repair authority. Limit above excess up to which a customer is allowed to undertake
  • Terrorism
  • Bail Bond-Incase insured is arrested, insurance Company pays for his bond at police station.
  •  Emergency charges for transport to hospital
  • Insured’s legal liability – Amount insured is liable to pay in case of a claim
  • Passenger liability – Liability arising out of injuries sustained or property lost by
  • Passengers while lawfully traveling in the insured’s car.
  •  Loss of use cover – If insured gets a claim, underwriter provides car hire charges.
  • Personal accident cover
  • Radio cassette and other additional accessories cover e.g. alloy, rims and other extras.
  • Towing charges.

Third Party Only Cover

Covers the insured against accidental loss or damage and/or death, bodily injury or loss or damage to property of third parties arising out of use of motor vehicles owned and/or operated by the insured.

Third Party and Theft Cover

In addition to coverage provided under the third party only, this cover includes loss or damage arising from fire or theft only to the insured vehicle

Comprehensive Cover

In addition to the full third-party fire and theft, it covers accidental damage and malicious damage to the insured vehicle; however, the comprehensive cover does not imply that every conceivable risk is covered. Every policy has some perils that are not covered as per the exclusion under the policy e.g. terrorism, special perils, nuclear energy risks exclusion, riot, and strike.

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