1) Fire Insurance

• Insured Person – company and individual.

• Covers against loss of or damage to property against:

- Fire

- Lightning

- Explosion of gas for domestic purposes

- Other extensions are available and some of these are:

- Explosion

- Extraneous Perils

- Smoke Damage

- Sprinkler Leakage

- Professional Fees

- Removal of Debris

• Sum Insured is to be arranged on the current prevailing value of the property, fixed assets are usually arranged on reinstatement or replacement value basis.

2) Consequential Loss Or Business Interruption Insurance

• Insured Person  –  strictly for the company only.

• Cover is usually arranged in conjunction with a fire policy.

• Whilst the fire policy provides indemnity for the material damage this policy provides the loss of expected income due to stoppage or interruption of the business following a fire.

• The policy covers:

- Loss of net profit

- Payment of standing charges

- Increase in cost of working

- Auditors’ Fees incurred in connection with preparation of the claim

3) Houseowners Insurance – Building only

• Insured Person – owners of private buildings occupied as dwellings.

• Covers the following:

Section I - Loss of or damage to the building

Section II - Additional expenses of alternative accommodation and loss of rent

Section III - Liability to the public

• Sum insured is to be arranged on prevailing reinstatement cost of the building.

4) Householders Insurance – Contents

• Insured Person -an individual or company who owns the contents (furniture, fixture and fittings and personal effect etc) whilst the building is leased to him.

• Covers the following:

Section I -a) Loss of or damage to the contents

               b) Breakage of mirrors other than hand mirror

Section II - Loss of or damage to servant’s property

Section III - Additional expenses of alternative accommodation and loss of rent

Section IV - Liability to the public

Section V - Compensation for death of the insured due to an accident whilst at

                 the insured location

Contact : Silis Sirun, 6322-4607  

Email:     sompoqa@sompojapanasia.com

 Marine Cargo Insurance

• Insured Person – mainly for trading company and also, individual who is sending his personal belongs to elsewhere.

• Covers the goods or merchandises whilst in transit from one place to another by air, land or sea transport

• Usually subject to the following clauses:

- Institute Cargo Clauses (All Risks); (A)

- Institute Cargo Clauses (W.A.); (B)

- Institute Cargo Clauses (FPA); (C)

- Inland Transport Clauses (All Risks)

• Extensions:

- Institute War Clauses

- Institute Strikes Riots and Civil Commotion Clauses

Contact : Silis Sirun, 6322-4607  

Email:     sompoqa@sompojapanasia.com

1. All Risks Insurance

• Insured Person – company or individual who owns electronics equipment or machinery.

• Covers loss of or damage to the insured equipment or machinery from any accidental cause.

• Sum Insured can be arranged on indemnity or replacement value basis.

2. Burglary/Theft Insurance

• Insured Person – company or individual who wishes to protect their property against such loss.

• Covers loss of or damage to the insured property or premises due to theft following forcible and violent entry to or exit from the premises.

• Sum Insured can be arranged on full value or first loss basis.

3. Personal Accident Insurance

• Insured Person – the company can insure their staff on a group basis and for individual it is a protection on their life against accident.

• Covers death or permanent disablement to the insured person due to bodily injury resulting from accident.

• Cover is worldwide and 24-hours basis.

• Sum Assured is usually arranged based on the financial earning of the person.

4. Travel Accident Package

• Insured Person – mainly for individual travelling abroad and also, the company can  insure their staff who travels overseas.

• Tailored package for travelling overseas

• Covers amongst other things include

- Personal Accident

- Medical Expenses

- Medical & Emergency repatriation

- Loss of baggage etc.

5. Public Liability Insurance

• Insured Person – this insurance is primarily meant for company.

• Covers legal liability to pay compensation for bodily injury to or loss of or damage to property of third party due to an accident arising from insured’s business.

• Sum Insured/Limit of Indemnity is arranged as required by the insured in accordance with his exposure.

6.Hospitalization and Surgical Insurance

• Insured Person – can be arranged by the Company on a group basis or an individual with good medical history.

• Covers surgical, medical & hospital expenses incurred by the insured person due to accidental bodily injuries, disease or sickness.

7. Money Insurance

• Insured Person – this insurance is meant for the company covering the money in transit and on premises.

• Covers –

a) loss of money by any cause whatsoever.

b) the cost of repair or replacement of the safe or strongroom not otherwise insured directly associated with any theft or attempted.

Contact : Silis Sirun, 6322-4607  

Email:     sompoqa@sompojapanasia.com

Covers insured’s legal liability under the Work Injury Compensation Insurance Regulation 1975 and Work Injury Compensation Insurance Act (Amendment) 1980 and at Common Law to pay compensation to employees for bodily injury due to an accident arising out of and in the course of his employment.

• Insured Person – besides the company any individual who employs maid or servant.

• Limit of Compensation

- Amount of Liability is defined in the Work Injury Compensation Act.

- SGD10,000,000.00 for liability under Common Law.

• Compulsory insurance for all employer to insure these workers:

- All employees whose individual monthly earnings is below SGD1,600.

 

Contact : Silis Sirun, 6322-4607  

Email:     sompoqa@sompojapanasia.com

This covers broadly two categories of vehicles:

1. Private Vehicle

2. Commercial Vehicle

• For Private Vehicle, covers available are:

i) Comprehensive Cover

- Loss of or damage to insured vehicle

- Protection and removal of insured vehicle after an accident

- Liability to third parties

ii) Third Party Cover

- covers liability to third parties only

• For Commercial Vehicle, covers available are:

i) Comprehensive Cover

- Loss of or damage to insured vehicle

- Liability to third parties

ii) Third Party Cover

- covers liability to third parties only

• Insured Person – owners of motor vehicles

• For Comprehensive Cover

- Sum Insured is to be arranged on prevailing market value of insured vehicle

Contact : Silis Sirun, 6322-4607  

Email:     sompoqa@sompojapanasia.com