Life
Life insurance is a contractual agreement between a policyholder and a life insurance company. Policyholders agree to make premium payments to the company, and the company agrees to pay your beneficiaries a sum of money in case of death at any case. All life policies have a minimum of 4 parts: a premium, death benefit, term period, and/or cash value.
Personal Accident
Personal Accident insurance or PA insurance is an annual policy which provides compensation in the event of injuries, disability or death caused solely by violent, accidental, external and visible events.
Health
Health Insurance pays for medical and surgical expenses that are incurred by the insured. Health insurance can either reimburse the insured for expenses incurred from illness or injury or pay the care provider directly.
Expatriate Health Insurance
Expatriate health insurance is designed for those who are living and working abroad.
Financial
Metropolitan Insurance provide clients with the highest quality service in Commercial and Investment Banking Risk Management, Actuarial Consulting, Insurance Underwriting and Reinsurance Broking.
We provide innovative risk management solutions that pre-empt and mitigate risk effectively; facilitate in favor of Banks, Funds, Companies and
Portfolio Managers to insure their Financial Risks book of business.
Types of Policies Facilitated:
• Trade Finance
• Non-cancelable coverage of bank's trade finance loans
• Import Financing
• Pre-export financing
• Political risks or excess of loss credit insurance Trade Letters of Credit
• Comprehensive "Non-honoring" coverage
• Single or multiple issuing banks
• Confirming letters of credit
• Accepting, discounting or negotiating drafts or documents under letters of credit.
BOND INSURANCE POLICY
The policy protects the exporter against loss caused by:
• The unfair calling of the bond (or any related counter-guarantee)
• The fair calling of the bond (and any related counter-guarantee) due to certain political events
Types of bond which can be covered:
Bonds for contracts; tender or bid bonds, advance payment Guarantee bonds (APG) etc..
RISKS COVERED
The exporter is protected against the risks of:
• Unfair calls made on the bond by the buyer or on any related counter-guarantee by the local bank
• Fair calls under the bond or any related counter-guarantee, which are caused by certain political events such as government actions (including the cancellation or non-renewal of export licenses), war, hostilities, civil disturbances and similar events outside the EU.
FINANCIAL GUARANTEE AND INVESTMENT INSURANCE PRODUCTS-SERVICES:
• Advance Payment Guarantee (APG)
• Documentary Coverage parameters pertinent to the origination of Banks’ MT 700 and MT 760 (The Standby Letters of Credit (SBLC) & Bank Guarantee (BG) transactions)
• Documentary Credit Insurance Policy (DCIP); comprehensive non-payment i.e. the default is the cause of loss (FAILURE OF ISSUING BANKS TO HONOR LETTERS OF CREDIT)
• Investment Insurance Policy and financial guarantee for Financing Facility
• Surety Bonds for EPC’s - Construction Contractors (Public and Private Sectors)
• Bond Insurance Policy
• Trade Credit Insurance
• Financial Risk Insurance
• Political Risk Insurance
Terrorism and War
Act of Terrorism means an act, including the use of force or violence, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s), committed for political, religious or ideological purposes including the intention to influence any Government and/or to put the public in fear for such purposes.
An act of Sabotage means a subversive act or series of such acts committed for political, religious or ideological purposes including the intention to influence any government and/or to put the public in fear for such purposes.
• Malicious Damage
• Riot and Strike and Civil Commotion
• Insurrection, Revolution and Rebellion
• War
• Mutiny
Fire & Property All Risks
Fire Insurance
Fire Insurance is coverage against loss by fire and/or lightning. It may include coverage against loss by windstorm or earthquake and other allied risks, when such risks are covered by extension to fire insurance policies or under separate policies.
Allied Perils Insurance
• Explosion
• Aircraft
• Vehicle Impact
• Smoke
• Extended Cover
• Flood
• Tempest
• Earthquake
• Burglary
• Plate Glass
• Electronic Equipment Insurance
• Machinery Breakdown
• Deterioration of Stocks
• Business Interruption or Loss of Profit
• Strikes, Riots & Civil commotion / Malicious Damage
Property all Risk
This Insurance is designed to cover your properties against loss or damage caused by any accident or misfortune unless specifically excluded in the Policy.
The property to be insured may consist of the following physical assets:
• Building
• Furniture, fixtures and fittings
• Plant and equipment
• Office equipment
• Stock in trade from raw materials to finished products
Burglary Theft and Robbery Insurance
This policy provides insurance for the following:
• Movables (furniture, devices, stocks, small inventory, and equipment),
• Money and other means of payment, valuables,
• Money and other assets in transport,
• Items which belong to workers, items taken from third persons for repairs, sale, and lease, as pledge or for safekeeping.
• Hold up
This policy protects your property from burglary theft, robbery (taking away by use of force or threat), attempted or executed vandalism during burglary theft.
Cash In Safe
The cash in safe policy covers the cash (Banknotes, Cheques, Securities, and Bonds) secured in locked safe against any loss and/or damage caused by burglary only if forcible entry is proven to have occurred simultaneously to any external fences enclosures as well as to the closed safe itself.
Cash In Transit
The insurance company will pay if money is stolen or lost when it is being moved between two places, for example between a shop and a bank.
Fidelity Guarantee Insurance
An insurance policy 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 in the course of employment.
Motor
A motor insurance policy is a mandatory policy issued by an insurance company as part of prevention of public liability to protect the general public from any accident that might take place on the road.
Insurance purchased for cars, trucks, motorcycles, and other road vehicles (private & commercial)
Type of Insurance
All Risks including:
• Burglary
• Hold Up
• Partial Theft
• Replacement Car
• Medical Expenses for Passengers & Drivers
• Registration fees
• Airbag 100%
Third party Liabiliy including:
• Medical Expenses for Passengers & Drivers
• Death for passengers & drivers
Compulsory
Marine & Liabilities
MARINE INSURANCE / HULL & CARGO
Marine Insurance
Covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.
Yacht/Hull Insurance
Insurance that covers pleasure boats against collision, hull damage, and liability indemnity.
Liability Policies
Product Recall Insurance
Insurance that covers expenses associated with recalling a product from the market. Product recall insurance is typically purchased by manufacturers such as food and beverage, toy and electronics companies to cover costs such as customer notification, shipping costs and disposal costs. Coverage generally applies to the firm itself, though additional coverage can be purchased to cover the costs of third parties.
Public Liability Insurance
Public liability insurance is designed for professionals who interact with customers or members of the public. It protects against claims of personal injury or property damage that a third party suffers (or claims to have suffered) as a result of your business activities.
Third-party liability is an insurance policy purchased to pay the damages caused to another (a third) party by the insured's own fault. It is purchased by the insured (the first party) from an insurance company (the second party) for protection against claims made by another party (a third party)
It may include the consequential loss.
Professional Indemnity Insurance
Professional Indemnity insurance was designed for professionals who provide advice or a service to their customers. It is designed to protect you against legal costs and claims for damages to third parties which may arise out of an act, omission or breach of professional duty in the course of your business.
If a mistake or omission occurs in the course of your work that results in financial loss or injury to a third party (e.g. a customer)—that customer may take legal action against you to recover their losses. Professional Indemnity insurance seeks to protect both your assets and your reputation, should this occur.
Contractors all Risks
Contractors' All Risks (CAR)
An insurance policy that provides coverage for both damage to a property and third-party injury or damage claims. Contractors' all risk (CAR) insurance policies are considered non-standard insurance policies.
Construction projects typically involve two primary types of risk: damage to the property, and third-party claims of injury or damage. Damage to the property could include the structure not being properly constructed, or receiving damage during a renovation. Third-parties, including subcontractors, may become injured while working at the construction site. Contractors' all risk (CAR) insurance bridges these two risks into a common policy, and helps cover the gap between exclusions that would otherwise exist when using separate policies.
A Contractors All Risks insurance policy consists of 3 main sections of cover:
• Contract Works
• Public Liability Insurance
• Employers' Liability Insurance
Workmen Compensation
Workmen compensation is a form of insurance that taking in charge the responsibility of the employer towards its employees, providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence, as well as death & total permanent or partial disability.
Jewelers Block
Inland marine insurance designed to provide coverage for loss of or damage to jewelry that is the stock of jewelry retailers, wholesalers, manufacturers, and pawnbrokers.
Travel
Insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or within one's own country.