Extended Warranty Insurance for Electric Appliance and Equipment
This insurance is developed in order to provide with protection against expenditure on repair of an electric appliance or electric equipment, which is damaged due to normal use, arising after expiry of the manufacturer’s warranty, whereby the protection shall be in accordance with the warranty conditions prescribed by the manufacturer for such appliance or equipment. This insurance also extends to cover the following perils:
- Damage resulting from fire or lightning;
- Damage resulting from an irregular electric current such as short circuit as well as overcurrent or brownout;
- Theft with forcible entry into the building where the property is kept;
- Fracture resulting from an accident arising in the premise where the property is kept or located.
Fidelity Guarantee Insurance
This insurance provides with protection for a property or cash of the insured, resulting from intentional corruption, embezzlement or theft by an employee of the Insured. Aside from risk to a property, the business has also a chance of risk resulting from an insider of the organization such as corruption or fraud, whereas, at the present situations, such damage possibly occurs beyond the circumspect protection of the organization. Thus, this insurance is another option to reduce loss of the business.
Employer’s Liability Insurance
This insurance provides with the protection for Employers’ Liability under the Thai Civil and Commercial Code. It shall indemnify Employees who suffer an accident or illness or death while on the job duty for the employer caused by negligence, neglect to take care of the employees’ safety e.g. buildings, equipment, tools, machinery do not get maintenance in good condition and safety as a result the employee has an accident.
Legal Liability Insurance from Unsafe Product
This insurance provides with protection for a manufacturer, distributor, packager etc. against a bodily injury or damage, which is inflicted upon a consumer, in a case unsafe of goods, whether because of a defect in manufacture or design, or absence of a handling instruction, or an incorrect or unclear handling instruction.
Public Liability Insurance
The Public Liability Insurance covers loss of or damage to Third Party which the Insured shall become legally liable as consequence or result of an accident arising from operation in connection with the insured business during the period of insurance, subject to the scope of risks and coverage territory, for
- Loss of life, bodily injury, illness or health of third party.
- Loss of or damage to property of third party
- Defense costs and expenses
Employee Bond Insurance
This insurance is developed for supporting a newly recruited or promoted employee in any organization, who is not convenient for affording a surety or a cash amount as a guarantee for his/her employment. The insurance company shall be a surety or provide with such guarantee instead.
This insurance has two coverage sections as follows.
Section 1 : Coverage for Employee Fidelity
The Company shall pay compensation to the employer for the amount of actual damages, resulting from an act of fraud, embezzlement or corruption by the Insured, during the validity period of the insurance, whereas the damage must be found during the period of insurance.
Section 2 : Coverage for Employment Contractual Liability
The Company shall pay compensation on behalf of the Insured to the employer for the amount not exceeding the damage against the employer’s property, resulting from an act of the Insured, in the course of employment or assignment, for which the employment contract prescribes that the Insured must pay compensation to the employer.
This insurance provides with the protection for loss of money, which is kept in a place, or loss of money during transportation, including damage upon the safe, safety vault or building, in which the money is kept, as a result of theft, burglary, robbery.
Motor Gap Insurance
As the motor insurance Class 1 provide with the sum insured net in full of the actual value of the car (normally, the sum insured is provide at of 80% – 90% of the car value), this policy is developed in order to cover the difference between the car value and the sum insured of the voluntary motor insurance policy (Class 1), in a case where the car is theft or total loss.