Fire property Insurance

*Why you should buy Property Insurance?

The fire insurance policy of property insurance offers protection against any unforeseen damage due to fire or other perils covered under the policy. There are also policies under the section which gives comprehensive coverage, including protection to boilers and plants, computers, medical, biomedical, microprocessor, mechanical and electrical machinery and/or equipment, among other things.

 

Corporate Liability

Workmen

*What are the Policy covers of Workmen Insurance ?

This policy provides indemnity to the Insured if any employee in the Insured’s immediate service shall sustain bodily injury by accident or contracts disease arising out of and in the course of his employment by the Insured in the Business and if the Insured shall be liable to pay compensation for such injury either under.

 

What are not covered in Workmen Insurance ?

Any injury by accident or disease directly attributable to war, invasion, the act of a foreign enemy, hostilities (whether war be declared or not), civil war, mutiny, insurrection, rebellion, revolution or military or usurped power.

Any employee who is not a workman within the meaning of the Laws.

Any liability of the Insured which attaches by virtue of an agreement but which would not have attached in the absence of such agreement.

 

Liability

What are different types of Liability Insurance?

Directors & Officers Liability Insurance.

Product Liability Insurance.

Professional Indemnity Insurance.

Public Liability Insurance.

Public Liability Industrial & Storage Insurance.

Public Liability Non-Industrial Insurance.

 

Why you should buy Liability Insurance?

It is important to cover your business against all kinds of liabilities. QIIG’s offers wide range of liability products — Public liability (third party injury or property damage) from industrial and non-industrial operations, product liability, professional indemnity and D&O liability.

 

How much does a Liability Insurance cost?

The premium rates are calculated after taking into consideration several factors such as type of business, nature of business activities, tenure of business, level of coverage needed, etc.

 

Marine Cargo Insurance

Why you should buy Marine Insurance?

Our Marine Insurance policies offer indemnity & financial protection for loss of or damage to your cargo during transit by different modes of transport, including sea, air, rail and land. We not only offer the comprehensive coverage but also offer efficient claim handling services.

 

What documents are needed for claiming Marine Transit Loss?

The documents mentioned are indicative and based on the circumstances of the claim, insurer may request for additional documents:-

• Original Invoice & packing List – if forming part of Invoice.
• In case any damage is suspected in transit, open delivery should be insisted upon the carrier and their certificate should be obtained.
• Original Lorry receipt (LR)/ Bill of Lading (BL)- Qualified with remarks for the Quantity damaged or lost in the transit.
• In case of Declaration Policy – The consignment should be declared and the within the limit of balance Sum insured.
• In case of loss/damage in transit, a monetary claim should be lodged with the carrier within the time limit to protect recovery rights.
• Damage / Shortage Certificate from the carrier.
• A surveyor (mutually agreed by the Insurer) must be appointed to determine the nature, cause and extent of loss/damage.

 

General insurance

What are some important points to note while buying the Bankers Blanket Insurance policy?

That a proper statutory audit is carried out periodically.

In case of loss, we have full rights to examine your books.

All moneys payable to the guilty employee shall be ours to recover / the claim shall be reduced to the extent.

 

Why to buy Burglary and Housebreaking Risk Insurance?

QIIG’s General Insurance’s Burglary and Housebreaking Insurance Policy is just the right kind of cover for your business in such times of need.

At every step, there is an exposure to risk – at factories, offices, warehouse, shops etc. Occurrences like housebreaking, dacoity, robbery or burglary of contents at your office, warehouse, shop, industry can bring about a huge financial loss to your business.

Although it is not possible to completely insulate your business from all such occurrences, you can still take necessary safeguards against them.

 

Who can apply for Burglary and Housebreaking Risk Insurance?

This Policy is specially meant for those individuals or organizations who own valuable items or property exposed to the aforesaid risks, for which a comprehensive insurance coverage is required.

 

What will be the level of coverage in Burglary and Housebreaking Risk Insurance?

In Burglary Policy, the Sum Insured should be fixed on current market prices for stocks. For other items such as furniture, fixture, equipment, etc., it can be fixed either on Market Value (i.e. new replacement cost less depreciation) or on a Reinstatement Value basis.

Further, to cover the fluctuating stocks at one place or at many places or variations due to seasonality, you can choose from our Floater, Declaration or Floater Declaration Policies.

You can also opt for our First Loss Policy where the Sum Insured chosen by you is a percentage of the full value of property in respect of stocks of bulk nature, where it is impossible for the entire stocks/contents to be burgled at one time.

 

What are some of the exclusions in the Burglary and Housebreaking Risk Insurance policy?

Some of the important Exclusions under the Policy are listed below:

• When your family member or staff is a principal or accessory in the incident.
• Act of persons lawfully on the insured premises.
• Acts consequent to fire, explosion, riot, strike, convulsions of nature like earthquake etc.
• War and nuclear risks.
• Premises left unoccupied and unattended for over seven days.
• Loss of cash from safe using duplicate key, unless the key is obtained by threat or force.
• Any consequential loss.

 

Money Insurance

What the money insurance policy covers?

Money in Transit whilst being carried by an authorized representative by robbery, hold up or any other fortuitous cause.

Money in premises during or after business hours – in safe

Apart from the above, we also cover:

Loss of or damage to your Safe, Strong room or Cash boxes or franking machines or cash bag or waistcoat when such are used for the ‘carriage of Money subject to a maximum coverage.

Loss of personal Money or damage to clothing and personal effects of your Director or employee subject to a maximum

 

Engineering Insurance

What is Car/Contractors All Risk Insurance/Contractors Work Insurance?

From the inception of the works, construction sites face an array of perils that could cost the contractor and all the parties involved both time and money if they do not have the best resources in place. It is therefore important that our clients obtain the correct cover for their specific projects in order to ensure that they do not suffer any unnecessary loss following an incident.

 

What is a Performance Guarantee?

A Performance Guarantee is issued on behalf of a contractor to guarantee the full and due performance of the contract according to the plans and specifications of the project.

 

What is the purpose of taking the Machinery Break down Policy?

Machinery and Equipment used in various industries are exposed to risks of unforeseen and sudden mechanical or electrical breakdown resulting in loss or damage. Such losses may be repairable or sometimes need replacement.

 

Who all can take Machinery Insurance Policy ?

Machinery Insurance is an essential insurance for any client who relies upon machines for successful running of their business. Manufacturing, Industrial, Engineering, printing companies etc are the major buyers of this insurance.

 

What all machines can be covered under the policy?

Any machine successfully tested and commissioned for normal production/use can be covered under the Machinery Insurance Policy. All machines like Turbines, Compressors, Air conditioners, lathes, presses, pumps, Alternators & Generators, Switch Gears & Transformers can be covered.

 

Can I prefer to insure only a few critical machines & avoid taking insurance for other auxillary machines?

Yes. Selection of critical equipment is allowed but the machine needs to be insured as a whole.

 

Who can take the Erection All Risk policy?

The policy can be taken by any individual or organisation as Principal or Contractor of a project. It can be taken in joint names also.

 

Does Erection All Risk policy cover all risks as termed as All Risks policy?

No. The policy has few exclusions like War and nuclear perils, wear and tear, gradual deterioration, Damage due to faulty design, Consequential loss, etc.

 

Does the policy cover financial loss due to delay in completion of project?

No. The policy does not covers any consequential loss like loss of revenue due to delay in start-up or fines and penalties.

 

PERSONAL INSURANCE FAQ

Motor Insurance

What is Not Covered under Motor Insurance Policy?

General Wear and Tear

Drunk Driving or driving without a valid driving licence

Any intentional damage

Damage due to war or war like situations

 

What is a Motor Cover Note?

A cover note is a temporary certificate of insurance issued by the Insurer before the issuance of a policy after the Insured has given a duly filled in proposal form and has paid the premium in full.

A cover note is valid for a period of 60 days from the date of issue of the cover note and the insurer shall issue the Certificate of Insurance before the cover note expires.

 

What is meant by IDV?

IDV means the Insured’s Declared Value. It is the value of the vehicle, which is arrived at by adjusting the current manufacturer’s listed selling price of the vehicle with a depreciation percentage as prescribed in the Tariff. For the vehicles that are obsolete and aged over 5 years, the IDV will be the value agreed between the Insurer and the Insured.

 

What is the period for which a Motor policy is issued?

All motor policies are annual policies issued for a period of twelve months. However, extension to a further period less than 12 months can be allowed with the approval of the competent authority, for arriving the renewals of the customer on a common date or for any other reason convenient to the customer. Additional premium needs to be collected for such extensions. Period less than 12 months can be given on a Short Period basis only with the approval of the competent authority.

 

Travel Insurance

What documents are needed to file a Travel Insurance claim?

Travel insurance claiming is a very easy process. To claim your policy, you will need several documents. You can submit these documents to your insurer and get your claim settled. Following are a few documents that are required to file a travel insurance claim:

• Claim form
• Policy documents
• ID proof
• Travel trip tickets
• Discharge card and other hospital bills

 

How much medical coverage do I get with my travel insurance policy?

Your medical coverage will depend on the plan you choose. We offer different plan options and each of them offers varying coverage amounts for medical emergencies.

 

How much hospital allowance will I get with my travel insurance plan?

Not all our travel insurance plans offer the hospital allowance benefit. Therefore, you will be entitled to receive a hospital daily allowance only if your plan offers. This daily hospital allowance will be provided only if the insured is admitted for a period exceeding 48 hours and is limited to a maximum of 20 days of hospitalization.

 

Who is a travel assistance partner?

A travel assistance partner is a person who primarily helps in medical emergencies during travel.

A travel assistance partner is a term that is used for an individual who is tasked with assisting you in medical emergencies during travel. A travel assistance partner is crucial in bringing medical attention to your aid when you need it.

 

What kind of compensation will I get if I lose my passport?

The loss of your passport can result in significant financial losses. You might have to extend your stay, pay express passport processing fees, re-schedule your flights, etc. Keeping this in mind, our travel insurance policy can offer up to $ 200 in case you lose your passport on your trip.

 

Does this policy cover pre-existing diseases?

No, our travel insurance policies do not cover pre-existing illnesses. So, when you are travelling outside the country, you will not be able to use your travel insurance policy to get coverage for a pre-existing medical condition.

 

Home insurance

Who Can Buy Home Insurance?

Homeowners: If you are a homeowner, you can buy a house insurance policy to protect your home. Considering the fact that you’ve invested a lot of time, money and effort into buying and making a space your own, it makes sense to de-risk it from unfortunate events with the help of a good insurance policy.

 

Are domestic appliances covered in the policy?

Yes, our house insurance policies provide coverage for your damaged domestic appliances that are not older than 10 years as a result of a mechanical or electrical breakdown. We either provide coverage for its repairs or replacement, with certain exclusions in place.

 

Is accidental damage to contents covered?

Yes, our All-in-One-Home protector policy provides home cover for any unforeseen damage caused to your contents.

 

What are the risks covered under Home Insurance?

A home insurance plan provides financial coverage to your home against any natural calamities such as tornadoes, hurricanes, cyclones, storms, earthquakes, fires, lightning strikes, floods, landslides, damages caused by pipes, tanks, vehicles, or aircraft. It even covers the home from manmade calamities such as burglaries.

 

Does Home Insurance cover any loss to my Jewelry?

Yes, our home insurance plans provide coverage for the loss of jewellery due to robbery, burglary, or dacoit.

 

Medical insurance

What’s not covered by our Medical Health Insurance policy?

Our health insurance policy will not provide coverage for the following-

• Cosmetic or Obesity treatment
• Pregnancy-related conditions
• Injuries caused due to self-harm or suicide attempt
• Injuries suffered due to adventure sport, war, nuclear explosion, defence operations

 

How to claim a cashless facility in health insurance?

Getting cashless claims is extremely simple. All you have to do is seek treatment in one of the network hospitals covered under your medi-claim policy. Upon completion of the treatment, the hospital files a claim with the insurer, and the insurance company settles the bill directly with the hospital. Policyholders need not pay a single penny for cashless claims.

 

What happens when you don’t renew health insurance on time?

Your health insurance policy offers cover against medical expenses. If a person meets with a medical emergency, then they can file for a claim with health insurance. However, a policyholder will not get such benefits when the health insurance policy has expired. The person must pay the medical expenses out of their pocket. Therefore, it is extremely important that you remember the expiry date of your medical insurance policy and renew your health insurance plan on time to enjoy interrupted protection.

 

What factors determine the premium payable for health insurance ?

Under health insurance, the age and the amount of cover are two main factors that decide the premium. Usually, younger people are considered healthier and thus pay lower annual premiums. Older, people pay a higher health insurance premium as their risk of health problems or illness is higher. Similarly, smokers and those who consume alcohol have higher premiums. Even the nature of your job and where you stay can influence the premium of your medical insurance policy.

 

Can I buy more than one Health Insurance policy?

Yes, you can have more than one medical insurance policy. In case of a claim, you can choose which policy to use to cover your costs. The benefit of having 2 health insurance plans is that, once the Sum Insured of one policy is exhausted, the remaining medical expenses, if any, can be claimed through the second health insurance policy.

 

What is a TPA and what is its role?

TPA is short for Third Party Administrator. TPAs are IRDAI authorized entities that act as intermediaries between the general insurance company & the policyholder. They provide policyholders with numerous services such as claim guidance, issuance of photo identity cards, providing approval for cashless claims, guidance for rejected claims, and so on.

 

Marine Cargo Insurance

What does it cover?

Marine Cargo Insurance covers goods that have been sold and are being shipped to a buyer through different modes of transportation.

What types of coverage are available?

Depending on the nature of cargo, there are varieties of coverages:
All Risks as per the Institute Cargo Clauses (Air & Sea)
Land Transits

What is the basis of valuation of the sum insured under a marine cargo policy?

The conditions of sale between the seller and buyer affect the basis of valuation. Sales are usually on either a FOB (free on board), C & F (cost and freight) or CIF (cost, insurance and freight); and taking these into consideration cargo insurance is usually provided for an agreed value.

What is the period of insurance under cargo insurance?

Cargo insurance is usually provided by a voyage policy.

 

Workmen’s Compensation Insurance

What is the coverage provided by a workmen’s compensation insurance policy?

This policy covers employers’ liability towards their employees to pay benefits to employees injured, or killed in the course of or arising out of their employment, as stipulated in Articles 59 and 60 of the Labour Law of the State of Qatar.

 

Property Insurance

What type of property does the policy cover?

We may distinguish between two types of property:
Private Property which includes private households and their contents.
Commercial or Business Property which includes buildings, machinery, plants and stock.

What coverages are available for Private Property?

This type of property is provided by a householder’s Comprehensive Insurance Policy which combines protection for the house and its contents and covers damage from fire and other perils sush as: explosion, natural perils, impact damage, burglary, loss of rent, public liability, etc.

What coverages are available for Commercial or Business Property?

Commercial or Business property may require wider coverage than what is provided by the Standard Fire Insurance Policy and the Allied or Additional Perils. Various types of All Risks Insurance policies are available, which provide protection against a range of losses (although there are still important exclusions).

What is Engineering Insurance?

This is a very highly specialized type of insurance which provides coverage for contractors engaged in building infrastructural projects such as roads, residential and commercial complexes, ports, tunnels power stations, etc.

What does it cover?

Engineering insurance provides compensation for Material Damage and Third Party Liability under various insurance policies like:
Contractors All Risks
Erection All Risks
Contractors Plant & Machinery
Machinery Breakdown

 

Fidelity Guarantee Insurance

What does a Fidelity Guarantee Insurance policy cover?

This policy provides reimbursements to employers for losses caused by dishonest or fraudulent acts of employees.

 

Takaful

Earlier in the Takaful section it was mentioned that the Aman Investment & Savings Program is an insurance & investment Plan in one. How does this work?

The following example shows how the insurance & investment processes work together in parallel in one plan.
Mohammed wishes to obtain a “Aman Investment & Savings ” policy based on the following criteria:

Sum Insured	QR. 120,000
Period of insurance	10 years
Age at the time of issue	36 years
Commencement date of the policy	1st Januery, 2008
Monthly contribution (insurance premium)	QR. 1 000 comprising: QR. 53 being the part of the premium covering death and disability,  under the “AMAN” Life policy; QR. 947 being the investment amount.

1. On the policy expiry date (1-1-2018) QIIC pays

	QR
The accumulated investment amount	113,640
Expected profit on the investment amount*	43,524
Total	157,164

In addition Mohammed was entitled to annual cash dividends on the AMAN (Life) contribution (18% in 2007).

2. In the event of death or permanent total disability
QllC pays to the policyholder (in case of disability) or his/her heirs or beneficiary named in the policy (in case of death) the unpaid contributions (premium) of the Sum Insured plus the amount of contributions (premiums) that were actually made, together with the investment profits on them up to the date of death.

Assuming Mohammed passes away 24 months after the commencement date of the policy, QIIC pays to his heirs/beneficiaries:

	QR
The unpaid portion of the Sum Insured	96,000
The accumulated investment amount actually paid by Mohammed	22,728
Expected profit on the investment amount	795
Total	119,523

* Assuming an average rate of return of 7% (net of QIIC’s share of such profits)