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UgandaBuy Britam Biashara Policy tailored for SME's online in Kenya | Britam - Kenya
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Biashara Insurance Plan
Britam Biashara
Biashara Insurance Plan
Britam Biashara insurance policy is a simplified combined solution tailored for SME’s.
The product offers a combined Solution covering-:
- Fire (compulsory section)
- Burglary (optional)
- All Risks (optional)
- Money (optional)
- Goods in Transit – GIT (optional)
- Work Injury Benefit - WIBA (optional)
- Public Liability (optional)
The product is designed as a self-rated product, where the customer chooses the different solutions. Political Violence & Terrorism Cover extended up to a limit. The product also offers relaxed Warranties & Conditions.
Fire & Perils (compulsory section)
This is a compulsory section in this cover. Below are some features and benefits.
- Covers ALL occupations other than the EXCLUDED
- Political Risk Cover extended up to a limit of Kes.2M
- Accidental Damage Cover extended up to a limit of Kes.1M
- Max Limits (as per schedule)
- Applicable Excess
- Eq Excess
- Accidental Damage Excess of Kes.5,000
- Premium Rate 0.175% (1.75%o)
A client can choose an of below addition benefits
- Theft (Burglary) (optional)
- Money Section (optional)
- Property in Transit (optional)
- Work Injury Benefit Combined (optional)
- Public Liability (optional)
- All Risk (optional)
Theft (Burglary) (optional)
- Hold-up cover inclusive
- Political Risks extension up to Kes.2M
- Personal Effects cover of Kes.20,000
- Premium Rate on Full cover-0.55%
- Pre-calculated First Loss Sum Insured options
- Excess Kes.5,000
Money Section (optional)
- Covers: Limit any one Claim/Year
- Covers money in ‘Premises’, ‘Transit’, with ‘staff/directors’.
- Max Limit of cover Kes.500,000
- Cover on ‘reducing’ basis –reinstatement
- No EAC thus No Declaration Condition
- No Transit or Escort Warranty
- Personal Effects cover up to Kes.20,000
- Forced ATM withdrawal up to Kes.20,000
- Airtime/scratch card limit Kes.20,000
- Political Risks extension up to Kes.0.5M
- Territorial limit: Kenya
- Automatic Reinstatement (prem. from claim)
- Premium Rate- 5%
- Excess 10% eel minimum Kes.10,000
Property in Transit (optional)
- Cover: Limit any one claim/year
- No EAC thus no Declaration Condition
- Cover on ‘Reinstatement Basis’
- Coverage: Road Risk Cover ‘Collision, Overturning, Fire, Burglary, Hijack, R&S’
- Goods belonging to Insured but carried by own or hired vehicles
- Territorial Limit : Kenya (road, rail, sea, air)
- Max Limit of over Kes.5,000,000
- Political Risks extension up to Kes.0.5M
- Personal Effects Cover (own crew) -20,000
- Automatic Reinstatement (premium from claim)
- Premium Rate- 3%
- Excess 10% eel min. Kes. 10,000/-
Work Injury Benefit Combined (optional)
- Combines both WIBA & EL covers
- Limit of Liability: 4M/25M/50M
- Insures ‘All Employees incl. working Directors’
- No need to categorize occupations
- Only Annual wage-roll required
- Simplified Rating- 3% of wage-roll
- Excess Kes.5,000
- Incorporates Political Risks & Terrorism Ext.
Public Liability (optional)
- Follows the stand cover
- Extension for ‘Medical Treatment’-50,000
- Premium Rate 0.1%
- Excess- Nil
- Simplified proposal-form
- Rationalized Warranties & Conditions
- Simplified Rating
- No Quotation Required
- Min Sections: Fire plus 2 others
- Minimum Policy Premium Kes.7,500
- Commission 20%
All Risks (optional)
- Specified Business portable electronic items
- Geographical area-Worldwide
- ‘New for Old’-Items up to 12 Months
- Political Risks extension up to Kes.0.5M
- Max Limit of cover Kes.1M
- Premium Rate on Full cover-15%0 (1.5%)
- Excess 10% eel minimum Kes.5,000
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