This is a comprehensive cover specifically designed for Hotel risks combining various insurance covers into one policy. This policy is more suitable for five and four star hotels. Given below are the various covers provided under the package policy.
Property All Risks
This is an ‘All Risks’ cover which covers property (i.e. Buildings, contents) against all accidental loss or damage unless the situation is specifically excluded.
Covers against loss of Gross Profit resulting from reduction in turnover and any increase in the cost of working following a loss covered by the Property section. Cover can be taken for the maximum period of the anticipated interruption to normal business activities.
The policyholder is indemnified in respect of all sums they are legally liable to pay as damages and claimant’s costs and expenses arising from accidental bodily injury and/or property damage occurring during the period of insurance in connection with the business within the geographical limits.
Cover is provided as per the provisions of the UAE Federal labour Law No. 8 of 1980 (Chapter VIII) and subsequent amendments thereto &/or Shariah law.
The policyholder is indemnified in respect of loss of money (i.e. whilst in the premises and in transit) plus any damage to safe, strongroom, container or waistcoat which occurs during the course of theft or attempted theft.
The policyholder is indemnified in respect of loss by reason of any act of fraud or dishonesty by any employee (with the clear intention of obtaining an improper financial gain for themselves or any other person intended by them).
The policy holder is indemnified against sudden and unforeseen damages like accidental damage, breakdown, explosion and collapse of the insured property.
Deterioration of Stock
The policy holder is indemnified in respect of loss or damage to goods by deterioration, putrefaction or contamination due to rise or fall in temperature as a result of fault or damage to refrigerating machinery, failure of electricity etc.
Sums insured for each class / item along with fully completed proposal form (class wise).
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