Corporate Plus
Business entities are prone to lots of risks as opposed by many factors.
Corporate Plus is a comprehensive policy that blankets many of the diverse requirements, as listed below, of the Corporate.
Business entities can choose various combinations of risks that will be applicable to them and can enjoy the benefits of a reduced premium as compared to the premium chargeable on individual risks.
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Asset All Risks
This is an umbrella policy which caters to the entire gamut of insurance requirements of large
corporations and provides a much wider cover than the corporate plus policy.
Material Damage - All loss or damage to the property insured occurring during the period of
insurance by an event not excluded specifically under the policy.
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Fire Policy
Scope of cover
The policy covers fire and lightning on the property insured.
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Business Interruption
Loss incurred due to the interruption or interference with the business activities, in consequences of
damage to the property insured at the premises are covered under this risk utility.
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Money Insurance
The policy indemnifies the insured against loss of money arising in transit or on the premises at sites of
contract or as may be specified subject to the limit any one loss set out in the policy in respect of
anyone occurrence.
The policy may also be extended to cover cash in safe, cash in the premises,
infidelity of the employee carrying the money and so on.
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Fidelity Guarantee
The policy will indemnify the employer against all direct pecuniary loss which the employer shall sustain
by an act of fraud or dishonesty committed by an employee at any time covered by the guarantee.
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Burglary
The policy indemnifies the following:
(a) The property or any part thereof whilst within the premises shall be stolen or damaged by any
person not being an employee of the insured who
- breaks and enters the premises while they are securely locked with intent to commit a crime therein or
- breaks out of premises, they have been securely locked, after having committed a crime therein or
-at the premises commits theft accompanied by violence or threat of violence.
(b) Arson due to an external entity not connected with the organization
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Goods in Transit Policy
If any goods and/or merchandise of the insured be lost or destroyed or damaged at any time whilst
being loaded upon ,carried by road or unloaded from any vehicle within the limits of Tanzania , Alliance
will pay the insured the value of the property at the time of such loss or destruction or the amount of
such damage .
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Workmen’s Compensation policy
The policy indemnifies the insured against liability only under workmen’s compensation law/sin respect of bodily injury arising out of and in the course of employment.
The policy may be extended to cover up to certain limit the employer’s liability under common law.
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Marine (Cargo)
The policy covers loss or damage to cargo during single voyage as well as multiple voyages during a
given period-usually annual-when carried by water, air and/or land.
This policy can be particularly useful for the import or export of cargo.
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Marine (Hull)
Insurance Cover: The purpose of hull insurance is to cover ship owners various insurable interests and
these include:
- Hull & Machinery Insurance
- Insurance of freight
- Builders Risk policy
- Loss of hire insurance
- Loss of profit Insurance
The policy covers all risks of physical loss or damage to the vessel (Hull &Machinery) caused by any
fortuitous cause including latent defect or by the negligent or malicious act of any person, or by theft, or
by the act of any governmental authority done for the purpose of preventing or mitigating pollution or
risk of pollution resulting from loss or damage to the vessel. The vessel may include passenger and
cargo ships, fishing boats, yachts and so on.
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Bid Bonds
We provide various types of Bonds like Bid Bond, Advance Payment Bond, Performance Bond, Transit
Bond, Customs Bond and others.
Bond is issued subject to the furnishing of Collateral/Counter
Guarantee by the Surety.
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Professional Indemnity
The policy indemnifies the insured unto the limit opted for which the insured may become legally liable
to pay for the breach of duty in his profession by reason of any negligent act, error or omission
committed or alleged to have been committed during the insured period.
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Motor Insurance
Alliance covers both private and commercial vehicles of different types on third party as well as
comprehensive basis.
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Contractor’s All Risks
This is an umbrella policy covering most comprehensively various types of risks that a civil contract may
be exposed to.
The policy covers different types of civil contracts like buildings, roads, bridges, etc. The
policy may also cover contractor’s plant and machinery as well as third party liability.
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Erection All Risks
This is an umbrella policy covering most comprehensively various types of risks to which an erection
project may be exposed to.
The policy covers any unforeseen and sudden physical loss or damage to
the insured property from any cause ,other than those specifically excluded ,in a manner necessitating
repair or replacement .
The loss or damage arising out of fire, lightning ,accidental damage ,burglary
,Act of God, and so on are covered. The policy also covers testing and commissioning.
A limit has to be opted for the third party liability.
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Machinery Insurance
The policy covers the loss or damage to the items whilst on the premises mentioned therein ,if they
suffer any unforeseen and sudden physical loss or damage from causes such as defects in casting and
material ,faulty design, faults at workshop or in erection, bad workmanship, lack of skill, carelessness,
shortage of water in boilers, physical explosion, tearing apart on account of centrifugal force, short
circuit, storm, or from any other cause not specifically excluded.
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Electronic Equipment Policy
The policy covers unforeseen and sudden physical loss or damage from any cause other than those
specifically excluded, in a manner necessitating repair or replacement.
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