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JEWELLERS BLOCK INSURANCE POLICY

Our Jewellers Block Insurance policy is specially designed for jewellers and specialist jewellers such as diamantaires (diamond dealers), pearlers (pearl traders) and antique jewellery dealers.

CASH INSURANCE
POLICY

This policy provides cover for loss of money in transit between the insured’s premises and other specified places as well as for loss of money in the business premises, safe or vault, etc.

FIDELITY GUARANTEE INSURANCE POLICY

This policy is designed to indemnify the Insured (the employer) for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee.

PROFESSIONAL INDEMNITY INSURANCE POLICY

Covers legal costs as well damages that may be awarded, if you are alleged to have provided inadequate advice or services that causes your client to lose money.

GROUP PERSONAL ACCIDENT

The cover provides compensation for death or bodily injury caused by accidental, violent, external and visible means, to any principal or employee specified in the schedule.

[JEWELLERS BLOCK INSURANCE POLICY]

Our Jewellers Block Insurance policy is specially designed for jewellers and specialist jewellers such as diamantaires (diamond dealers), pearlers (pearl traders) and antique jewellery dealers.

Scope

The policy comprises four sections which are optional except for Section I which is compulsory.

Section 1

Covers loss or damage to jewellery , gold and silver ornaments or plates , pearls, precious stones, cash and currency notes whilst contained in the premises insured, by fire,explosion, lightning,burglary,house breaking, theft, hold up, robbery, riot, strike and malicious damage.

Section 2

Covers loss or damage to jewellery, gold etc. as described in Section I whilst it is in the custody of the insured, his/her partners, employees, directors, sorters of diamonds or whilst such property (excluding cash and currency notes) is in the custody of brokers, agents, cutters and goldsmiths.

Section 3

Covers loss or damage to property described in Section I whilst in transit by registered parcel post, air freight or through unofficial couriers (Angadias).

Section 4

Covers loss or damage to trade and office furniture and fixtures in insured premises due to fire, explosion, lightning, burglary, house breaking, theft, hold up, robbery, riot, strike and malicious damage.

Who should take the policy?

The policy can be taken by jewellers who are wholesalers or retailers. The policy cannot be given to establishments whose work is predominantly manufacturing like cutters and goldsmiths. The policy also cannot be given to jewellery couriers, brokers or pawn brokers etc.

How to select the sum insured?

The sum insured under Section 1 and 2 should represent the cost price of the jewellery items. The sum insured under Section 3 should represent the maximum loss likely, arising out of any one incident. The sum insured under Section 4 should represent the market value of the property.

How do I purchase this policy?

For detailed information:

You can also fill out the Proposal Form below and send it to us. One of our agents will be in touch.

[CASH INSURANCE POLICY]

This policy provides cover for loss of money in transit between the insured’s premises and other specified places as well as for loss of money in the business premises, safe or vault, etc.

Unless otherwise stated, CASH would mean Bank Notes, Current Coins, Cheques, Postal & Money orders and Current Postage Stamps.

Coverage

Policy shall indemnify the insured for loss of cash due to any reason except that the cause comes under one of the Exception. In other words it is an ALL RISKS POLICY.

Items Covered

The Policy Schedule provides for coverage under different items which normally relate to the following: Cash in Safe and Transit for amounts relating to payment of wages and salaries.

  • Cash held in a locked safe on over-night basis or extended to 24 hours basis.
  • Cash on premises when the premises is open for business against the risks of Robbery & Hold up
  • Cash in Transit whilst in the custody of a regular employee from one point to another.
  • The Limit of Company’s Liability are clearly stated against each item of the schedule.
  • Conditions with regard to safe used by the insured are imposed as to its location, size and weight etc. Policy cover is also subject to KEY ENDORSEMENT
  • Cash on premises (in Table Drawer, Cash Register, etc.) is covered against Robbery & Hold-up when the insured or his staff is put under a threat of physical violence by use of weapons.
  • Cash in Transit cover is also subject to extra conditions relating to how the cash shall be carried such as by Company Car, Engaged Taxi, on foot etc. etc. with clear and expressed conditions stating under what circumstances the loss is not covered. 

A few Exclusions are listed below

Please refer to the main policy for full comprehensive list of exclusions.

  • Shortage due to errors
  • Cash entrusted to any person other than the Insured or employees of the insured.
  • Loss due to Fraud / Dishonesty of Employee
  • If loss is payable under any other policy
  • Nuclear & Radiation risks
  • War & War like situations
  • Any consequential loss.

How do I purchase this policy?

For detailed information:

You can also fill out the Proposal Form below and send it to us. One of our agents will be in touch.

[FIDELITY GUARANTEE INSURANCE POLICY]

This policy is designed to indemnify the Insured (the employer) for the loss of money or property sustained as a direct result of acts of fraud, theft or dishonesty by an employee. Such acts include FORGERY, EMBEZZLEMENT, LARCENY or FRAUDULENT CONVERSION of money or goods of the employer.

The Policy is issued for a fixed period of one year but is extended to a DISCOVERY PERIOD as under:
“Loss due to above but discovered within six calendar months of the expiry of the policy in case of death, dismissal or retirement of the employee, whichever of these events shall happen first”

Policies can be issued as under:

  • Named Individual Employee – Limit of Indemnity as agreed.
  • Group of Employees – Named Employees for Limit of Indemnity specified against each.
  • Floater or Floating Policy – Covers all employees on Employer’s roll upto a specified limit of annual indemnity for acts committed by anyone or all employees during the Policy Period (Employees are to be named).

Special Features

  • Employer shall maintain and shall not change the systems of control, checking, reconciliation or accuracy of accounts and stocks dealt with by the employee.
  • Relationship of employee and employer must exist.
  • Upon discovery of any of the acts giving rise to a claim, the indemnity in respect of that particular employee shall come to an end.
  • Policies are issued for a determined geographical limit agreed for the places of employment.

A few Exclusions are listed below

Please refer to the main policy for full comprehensive list of exclusions.

  • Computer virus or programming errors.
  • Claims made with fraudulent intentions
  • Inventory and profit loss.
  • Consequential loss of any kind.
  • Loss of trade secrets or confidential information of any kind.
  • Any kind of professional liability.
  • Directors, Owners and Partners.
  • Any loss due to negligence
  • Non-payment or default of loans given to the employee.

How do I purchase this policy?

For detailed information:

You can also fill out the Proposal Form below and send it to us. One of our agents will be in touch.

[PROFESSIONAL INDEMNITY INSURANCE POLICY]

This insurance is specially designed to cover the legal liability arising out of the profession of the insured individual or the insured Company / Firm due to professional misconduct or acts of negligence / omission or commission resulting into monetary loss to insured’s clients.

The Policy covers legal costs and expenses incurred as well damages that may be awarded, if you are alleged to have provided inadequate advice or services that causes your client to lose money.

Risks Covered

  • Legal liability arising out of the profession of the insured individual or the insured Company / Firm due to professional misconduct or acts of negligence / omission or commission resulting into monetary loss to insured’s clients.
  • Reimbursement of Legal costs & expenses to defend claims, if incurred with the prior consent and approval of insurers.

A few Exclusions are listed below

Please refer to the main policy for full comprehensive list of exclusions.

  • Claims arising outside the period of insurance or retro-active period of policy.
  • Any claim upto the amount of Excess imposed.
  • Any claim for personal injury due to libel, slander, defamation, false arrest, mental injury, anguish or shock arising therefrom.
  • Infringement of copy rights, patents, trademarks or other intellectual properties.
  • Any claim made fraudulently or with criminal or malicious intent.
  • Loss of data documents or trade information.
  • Death and bodily injury to anyone.
  • Fines, Penalties and similar damages
  • War & War-like situations, convulsions of nature, pollution risks etc.
  • Nuclear weapons and materials.

How do I purchase this policy?

For detailed information:

You can also fill out the Proposal Form below and send it to us. One of our agents will be in touch.

[GROUP PERSONAL ACCIDENT]

Let’s face it. No matter what safety precautions you may have in place, accidents will happen and can result in disablement, loss of limbs or even death of your employees.

Oriental Insurance offers Group Personal Accident Insurance for just such events as it covers any principal or employee specified in the schedule against death or disability due to an accident. 

This policy provides compensation in the event of insured sustaining injuries, solely and directly from an accident caused by violent, visible and external means, resulting into death or disablement be it temporary or permanent.

There are also some additional benefits available without payment of additional premium like such as reimbursement of expenses for the repatriation of the dead body.

Details on what our Group Personal Accident Insurance Policy covers.

The policy is to provide compensation in the event of accidental injuries and death. What are termed as capital sums are paid in the event of death or certain specified injuries, such as the loss of limbs or sight as may be defined in the policy.

A typical benefits schedule will be as shown below:

No SECTIONS WHAT IS COVERED
1
Accidental Death
100% of the sum insured
2
Permanent Total Disability
100% of the sum insured
3
Loss of 2 limbs, 2 eyes or one limb and one eye (Permanent Partial Disability).​
100% of the sum insured
4
Loss of one limb or one eye (Permanent Partial Disability)​​
50% of the sum insured
5
Other permanent disabilities as per Scale given in the Policy​​​
As per schedule given in the Policy
6
Temporary total disabilities due to accident not resulting into any of the​​​​ above
1% of the sum insured per week for 52 weeks. Maximum Benefit 100% of Sum Insured​
7
Medical Expenses (Diseases and sickness not covered)​​​​
The policy shall cover medical expenses upto Dhs.5,000/- per person/per year for treatment of accidental injuries in hospital and clinics.​
8
Repatriation Expenses (In case of death only)​​​​
Actual expenses payable upto maximum Dhs. 7,500/- per person.​

The cover will be on World Wide/ 24 hours basis.
This policy provides compensation in the event of insured sustaining injuries, solely and directly from an accident​​. 

What is not covered under Personal Accident Policy​​.

In the interest of complete transparency, which is one of our main principles towards gaining customer trust and loyalty, we would like to bring to your kind attention the following ‘exclusions’ under this policy.

a) Intentional self injury
b) Suicide or attempted suicide
c) Death or disablement resulting from child birth and pregnancy
​d) Accident while the insured is under the influence of intoxicating liquor or drugs
e) War and allied perils.​ 

How do I purchase this policy?

For detailed information:

You can also fill out the Proposal Form below and send it to us. One of our agents will be in touch.