Environmental Impairment Liability

Environmental impairment insurance provides protection against claims and legal action that result when a business’s operations cause injury or property damage to a third party through the release of pollutants.

A typical environmental impairment policy pays costs related to bodily injuries, property damage, clean up and legal action that result from an insured business’s release of pollutants.

Covers parties involved in commercial transactions in relation to the delivery of contractual obligations.


Kidnap & Ransom Insurance

World over, terrorist activities have been increasing substantially over the last few years. Kidnapping for ransom money is also on the upswing. Whilst certain countries are more notorious for their criminal and terrorist activity, today no part of the world is immune from this threat. Kidnap, Extortion and Detention are real dangers for companies today. They are, however, often overlooked by managements on the grounds that “it won’t ever happen to us”, but the damage this can inflict on a business can be very severe – as the annual roll call of corporate and individual victims around the world testifies.

While no insurance cover can ease the emotional and physical pain, Kidnap & Ransom cover can help ease the financial burden and resolve issues smoothly. Kidnap and Ransom insurance provides assistance to the family and business with regard to independent investigations, negotiations, arrangement and delivery of funds, and numerous other services vital to a safe, speedy and satisfactory resolution.

Extortion Insurance will help you manage the costs associated with an extortion threat against your products, proprietary information, computer system or your people – these costs can be enough to push a small to medium-sized company to its financial limits. Consequently, adequate protection against these events in the form of specialist advice and the safety net of an insurance policy has quickly become essential for vulnerable families and an integral part of every company’s risk management portfolio. The specific policy details may be tailored to meet specific needs. Access to a specialist crisis management company is a key benefit under the policy.

The coverage includes:

*Ransom and extortion payments as a result of kidnapping, extortion and hijacking

*Loss of the payment while being delivered

*Expenses incurred as a result of the demand, including independent negotiators fees and expenses.


Events & Exhibition

Event Cancellation and Abandonment Insurance

Cancellation & Abandonment Insurance covers all aspects of financial loss, increased expenditure, or even loss of surplus to owners, organisers and stakeholders, if any of the insured perils cause the event or any part thereof to be cancelled, postponed, abandoned, relocated, interrupted or curtailed.  The team at IDQhave unrivalled knowledge and are recognised as professionals in this class.

Cancellation of Event due to Transmission Failure

Failure to transmit a key match or event could result in significant financial losses for owners and organisers. We can arrange this type of cover also.


Airport Operators Liability

An insurance policy providing coverage to the owners and operators of an airport in the event that a person or property is damaged while on the airport’s premises. That is, if a person slips and falls in an airport bathroom, or if a plane crashes into another on the runway, airport liability coverage would protect the airport from any consequent lawsuits.

Aviation insurance is geared specifically to the operation of an aircraft and the risks involved in aviation. It is divided into several types of insurance coverage including public liability insurance, passenger liability insurance, combined single limit insurance, ground risk hull insurance not in motion, ground risk hull insurance in motion (taxiing) and in-flight insurance, etc.


Credit Insurance

The credit insurance helps business owners insulate themselves from the risk of non-paying customers.

Sweeping changes in the international political landscape and widespread market deregulation have made trading the driving force in our worldwide economy. But expanding sales and building new customer relationships can leave balance sheets vulnerable. Economic downturns, privatization of public entities and inconvertibility or non-transfer of currency can leave your customers unable to pay what they owe. And often by the time customer insolvency or credit loss if foreseen, it’s too late to protect the company’s account receivable. Accounts receivable can make up nearly 75 percent of a company’s current assets. And like all major balance sheet assets, they require insurance protection.

Credit Insurance provides the security companies need to compete in today’s global market and this policy typically covers:

*Non-payment/ Realization of Invoice due to the failure of the buyer to pay.

*Any Legal costs incurred (with prior consent of the Insurer) for Recoveries.

Please be aware that this specialty cover is not freely granted by the Insurers on account of its vulnerability of losses and moral hazards of the Customers.


Delay in Start Up (DSU) / ALOP

While undertaking any project, the cash flows form a vital part of the strategy. The projections are made for the revenue flow from the date of project completion / commissioning. Invariably there may arise situations where in the entire project gets delayed due to a mishap in the project site or due to accident to the vessel carrying machinery vital to the commissioning of the plant. Both principals and contractors are being confronted with increasing financial risk exposure.

As a result of private finance, protecting the revenue stream with appropriate insurance is increasingly regarded as of equal, if not greater importance, than protecting the assets themselves.

Commonly referred to as Delay in Start-up insurance (DSU) or Advance Loss of Profits insurance (ALOP), the insurance of revenue for projects under construction has gained significant importance over the last decade or so.

DSU is the terminology used by the Marine insurance market for the consequential loss risk arising from loss or damage to materials whilst in transit en – route to the contract site from the place of origin.

ALOP similarly is the cover provided during the construction stage for consequential losses incurred in being unable to complete or commissioning the project due an insured peril.


Machinery Loss of Profit

Protecting a company’s income flow has been a major cause of concern in the recent past and this has become constant source of worry for risk managers. While almost everyone is aware that insurance to a great extent helps putting back a company on its feet after the loss, it is the intangible or the consequential loss which is difficult to perceive and in several cases forces the company to shut down without even making an attempt to recover.

While a normal fire or machinery insurance policy does help the company recover the material loss sustained, it does not protect them against all the losses incurred due to the fire or breakdown. The financial loss due to the loss of profits and the standing charges still being incurred after the loss with reduced or no income now being generated is what gets covered under the machinery loss of profits insurance.

Machinery loss of profit policy gives cover against consequential losses following loss or damage to the property insured under machinery breakdown and/or boiler and pressure plant insurance. This policy covers actual financial losses suffered by the insured due to business interruption arising from:

a) Reduction in turnover and

b) Increase in cost of working

A machinery LOP policy can be purchased only in conjunction with a Machinery Breakdown policy and cannot be taken as a stand alone policy. While it is a suitable means of protecting oneself completely against relevant losses, care should be taken in ascertaining the sum insured. The criticality of each machinery in the way it contributes to the overall turnover needs to be studied carefully as also the period required to get back to normal work.


Fire Loss of Profit

Insuring your property, buildings, fixtures and fittings, stock and equipment are obviously important but so too is the need for adequate cover for loss of profits following loss or damage at your premises. Business interruptions do happen! Apart from the direct losses that arise from a fire, there are also losses that result from the interruption of a business. If damage to your business’ premises force you to close while repairs are made, you will still need to pay employees, mortgages, leases and other debts. These ongoing expenses can mount up quickly for a business that has reduced income–or no income at all. This policy could act as a vital lifeline for businesses.

You shouldn’t assume your policy includes business interruption coverage. Many business owners don’t even think about it until such coverage is needed. But remember that the cover under this policy is available only when the cover under the basic fire policy is triggered. This insurance usually is sold in tandem with property coverage. Coverage is generally provided for the “period of restoration”, which is usually considered to be the period which would be required to rebuild, repair or replace the damaged property at the described premises with reasonable speed and similar quality. It usually commences with the date of such damage or destruction and it is not usually limited by the date of expiration of the policy.


Key Man Insurance

Every organization has certain key individuals who form the backbone of the organization and whose presence is vital for the profitable running of the organization.  In any company only a few individuals make the important decisions. The implementation of these decisions down the line makes or breaks the business. Thanks to their specialized knowledge, skills, vision and business acumen, these are the people who bring higher revenues, profits and loyalty. Skills of a person may not be replaceable, but the business can certainly compensate the financial loss by providing insurance to its key person – THE KEY MAN. The brand power of individuals can sometimes be bigger than that of their organizations. These are individuals who are the most indispensable human asset of an organization.

Thus, it is only natural that the sudden exit of such individuals (for whatever reasons) will not only cause financial distress but also a loss of goodwill – if not permanently, then at least temporarily – till such time that a suitable candidate of the same calibre is found, trained and acclimatized to the work culture of the organization.

Key-man insurance is a life insurance policy taken on the life of a key-man with a view to providing liquidity, financial strength and indemnity to the business organization in case of losses on account of death, absence or exit otherwise of its key-men from the business.

We will be able to arrange appropriate risk covers to ensure that the organization can recover the loss associated to the sudden departure of the Key man.  Our technical experts will be able to provide you with the advantages of having a Key Men insurance.


Group Business Travel

Going abroad? Busy with packing and making arrangements? But in this busy schedule have you ever thought about the contingencies/risks you may face while you are abroad. Contingencies can be a medical emergency or an accident or personal liability? Interestingly, if you look at the insurance packages, what is being offered today is not just health but a comprehensive package that ensures compensation and peace of mind when travelling abroad. Any pretty good travel insurance policy should provide coverage like medical expenses, expenses regarding travel delay, emergency return from journey, 24 hour emergency service assistance, rented car damage, accidental death during the trip, legal assistance or compensation to any baggage delay etc.

Benefits of Travel Insurance cover are:

*Affordable Protection

*Free 24/7 travel advice

*Activity extensions as standard

*Discounts for 2 people travelling together

*UK, Europe, worldwide destinations

*Up to 45 days individual trip duration

Travel Insurance can be obtained by Expatriates as Individual Travel cover or by the Corporates as Business Travel covering all their Employees. The policy for corporates is issued for a period of 1 year covering any number of visits within a year with each visit extending to a maximum of 30 to 45 days. However maximum period up to which one can be covered varies from company to company

Our experts will be able to guide you through the various types of travel cover that the insurer may require and this includes, cancellation, travel delay, baggage delay, missed flights, passport assistance, hijack, robbery, emergency medical expenses.