Business Insurance

Business insurance policies have been developed to cover virtually any risk that a business could possibly face. While most businesses will not need every type of policy, each company will need several, or a “package policy”. Depending on the type of operation that is being insured, rates and coverage limits may vary.

Aircraft/Aviation Insurance
Additional cover for all risks involving aircraft and aviation business, includes liability to third party of ground service, group insurance for crew/airline management, loss-of-aviation-license insurance, war risk insurance, deductible insurance. Special products are available for light and personal aircraft which are sometimes used by tour companies, hotels and high net worth individuals.

Bail Bond Insurance
This provides bail-value guarantee when insured is a suspect or defendant or in criminally charged.

Cancellation Insurance
If you have incurred significant cost or are dependent on revenue relating to an event, then event cancellation insurance may just be the right choice for you. Cover includes compensation from cancellation or partial or complete change of plan affecting your seminars or events. Additional cover compensates loss of income for business disruption and terrorism cover is also available.

Commercial Auto Insurance
If a business uses vehicles in the normal course of business, they will require commercial auto insurance. In addition to covering personal injury and property damage, commercial auto insurance covers the business for loss of use in the case of an accident.

Boiler and Pressure Vessel Insurance
Cover includes damage to boiler and pressurized tank arising from defects or mishandling. The insurance also provides compensation in case of death and damage to third party property.

Business Interruption Insurance
If a disaster or catastrophic event does occur, a business’s operations are likely to be interrupted. During this time, your business will suffer from lost income due to your staff’s inability to work in the office, manufacture products or make sales calls. Many fixed costs will continue to drain your resources. This type of insurance is especially applicable to companies that require a physical location to do business, have supply chain obligations and have significant fixed costs. Business Interruption Insurance compensates a business for its lost income during these events and is one of the most under-insured areas of businesses in Thailand.

Commercial Crime
A modern and enhanced continuation of Fidelity Guarantee Insurance. This should be considered by companies with a high risk of “insider fraud”, or companies that hold third party funds.

Constructor’s Plant Equipment All Risk Insurance
If you own construction machinery such as earth moving machine, mobile cranes, conveyor system concrete batching plants, we suggest getting your machinery insured against loss or damage. Period of cover can be adjusted to fit a specific project period on an annual basis.

Boat Insurance – Personal Accident
Compulsory insurance for any public boat operating with the capability to carry over 12 passengers on board. This insurance includes medical as well as death and disability cover to all passengers.

Business Owner’s Policy (BOP)
A BOP packages all required coverage a business owner would need. Often, BOP’s will include business interruption insurance, property insurance, vehicle coverage, liability insurance, and crime insurance. Based on your company’s specific needs, you can alter what is included in a BOP. Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverages.

Cargo Insurance
An essential element for exporters and international businesses, cargo insurance covers loss or damage to shipment during sea, air, land, rail or post transportation as a result of accidents or unforeseen circumstances. Cover can be purchased “door to door” from the supplier to the recipient, or limited to part of the journey.

Contract Work Insurance
This covers risks which may arise during a course of construction, including machine installation or erection and third party liability as a result of accidents.

Commercial Property Insurance
Commercial property insurance policies are available for businesses that operate out of standard commercial buildings. These policies cover loss and damage to company property because of theft, fire, smoke, wind, hail, vandalism, and other covered events. Company property is usually defined as buildings, equipment, documents, business interruptions, lost income, and money. A home-based business can purchase similar coverage in addition to their home owner’s policy. In some case, riders can be added to a traditional home owner’s policy to cover certain losses, but it is generally not as extensive as separate coverage.

Cyber Insurance
Cyber insurance offers protection to your business and your customers in the event of an online threat, such as a ‘denial of service’ attack. This policy should be considered by companies whose online presence is critical to their business.

Educators Liability
An educator’s liability policy is a packaged liability product designed for schools, and covers defence costs and damages relating to the school’s liability. Areas of cover can include professional negligence, discrimination, “failure to educate” and sexually related events. This will cover not only teachers but all staff.

Erection All Risks Insurance
Insurance for manufacturers or suppliers of machines responsible for installation or erection at specific projects. Cover includes damage to machine itself and installation equipment. Cover period starts from transportation to installation location until testing of the installed machine is complete.

Fleet Motor Insurance
Less of a headache for businesses owning many vehicles or car rental business.

Golfer’s Indemnity Insurance
When it comes to injuries, amateur or professional golf players should be protected. The insurance covers self- inflicted injuries, liability to bodily harm or property damage inflicted to third -person, and damages to golf equipment. We also offer special bonus if you hit a “hole-in-one”.

Hull
Insurance covers damage to any part of the ship, cover also includes power generation units, heat and lighting units and conditioning units.

Industrial All Risks Insurance
Cover includes damage to or loss of insured property from accidents or forces of nature such as fire, theft, submersion in water, or any other accidents not indicated as exclusions in the policy.

Data Breach
If the business stores sensitive or non-public information about employees or clients on their computers, servers or in paper files they are responsible for protecting that information. If a breach occurs either electronically or from a paper file a Data Breach policy will provide protection against the loss.

Electronic Equipment Insurance
When electronic equipment is an indispensable part of your business continuity, do not let accidents such as short- circuits or operational errors get the better of you. The insurance covers compensation for physical damage to equipment and information retrieval or storage.

Event Cancellation Insurance
If the one thing that could go wrong is something you could not afford, then event cancellation insurance may just be the right choice for you. Cover includes compensation from cancellation or partial or complete change of plan affecting your seminars or events. Additional cover compensates loss of income for business disruption and terrorism cover is also available.

Gold Shop Insurance
Theft, burglary and robbery are rampant these days. Gold Shop Insurance to cover loss of or damage to good or property of your business as well as medical expense compensation for you and your staff in case of death or injuries.

Health & Personal Accident (PA) Group Insurance
PA and Health Group insurance primarily offers in-patient accident and health cover for a group of insured. Additional cover as out-patient for common illnesses also available. You can also claim tax back on this kind of insurance.

Jewellery Block Insurance
Cover includes loss of or damage to jewellery or gem stones as a result of accident or theft at your premises, during transportation or when on display.

Directors and Officers Insurance
This type of insurance protects the directors and officers of a company against their actions that affect the profitability or operations of the company. If a director or officer of your company, as a direct result of their actions on the job, finds him or herself in a legal situation, this type of insurance can cover costs or damages lost as a result of a lawsuit.

Engineering Insurance
Highly recommended for construction project owners or contractors, especially for building or plant construction or civil works. Insurance covers project completion value, construction machinery, construction tools and equipment, debris removal cost and consultation cost which may arise from accidents occurred during construction period.

Fidelity Guarantee Insurance
There is not much difference between theft and fraud at work. Protect your business now.

General Liability Insurance
No business should go one day without general liability coverage. This type of policy covers the business in the case of a claim or lawsuit that arises from injuries, accidents, or negligence. Covered claims may include bodily injury, personal injury, property damage, slander, or false advertisement. The insurance provider covers all covered expenses including legal representation except for punitive damages.

Home-Based Business Insurance
Contrary to popular belief, homeowners’ insurance policies do not generally cover home-based business losses. Depending on risks to your business, you may add riders to your homeowners’ policy to cover normal business risks such as property damage. However, homeowners’ policies only go so far in covering home -based businesses and you may need to purchase additional policies to cover other risks, such as general and professional liability.

Keyman Insurance
Key person insurance is simply life and/or disability insurance on the key person(s) in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business –the ones whose absence would sink the company. You definitely need to consider key person insurance on those people. Basically, the company pays the premiums and is the beneficiary if there is a claim.

Prize indemnity
Prize indemnity allows your business to offer a prize (for example at an event or for a promotional campaign) which is well beyond your budget, so long as there is a high element of chance or skill involved. For example, you could hold a lucky draw and the winner gets to pick a ball from 100 balls, with one ball winning them a million dollars. Should the lucky ball be picked the insurer will pay the prize, and you pay a fraction of the prize as the premium, irrespective of the result. Full adjudication applies.

Terrorism & Political Violence Insurance
This cover extends a property policy to cover acts of terrorism, civil unrest, coup de tat, civil war and other political or terrorist related events which cause a physical loss. Some recent events in Thailand have caused damage to businesses which would not be covered under a normal property policy. You should consider this policy if you operate in areas prone to such events.

Travel Accident Insurance for tour groups/travel agencies
Nothing is better for your group travel than group accident travel insurance with medical expenses and accident cover for everyone. Whether it is your corporate outing or tour groups, be sure to be protected.

Life Insurance
Life insurance protects an individual against death. If you have life insurance, the insurer pays a certain amount of money to a beneficiary upon your death. You pay a premium in exchange for the payment of benefits to the beneficiary. This type of insurance is very important because it allows for peace of mind. Having life insurance allows you to know that your loved ones and also work colleagues/business partners will not be burdened financially upon your death.

Product Liability Insurance
If a company makes, sells, or distributes a product, they can be held liable for its safety. Product liability insurance covers claims that arise from defective products that cause injury or harm. Coverage should vary with the type of product that is made. For example, a pharmaceutical company is exposed to higher product liability risks than a clothing manufacturer.

Prospectus liability
IPO insurance covers a company against misrepresentation and other potential liabilities relating to a listing.

Umbrella Policies
An umbrella policy is a catch-all for anything that slips through or exceeds the limits of any other policy. These policies are relatively inexpensive, but often require business owners to purchase the maximum limits on all other policies

Machinery Breakdown Insurance
For plants in which the production line is primarily dependable on machines such as generators, anything that could go wrong with that machine is the least you want to happen. Cover of machinery insurance includes accidents from design defects, short circuit, physics explosions, or malicious acts.

Professional Liability Insurance
This type of liability policy is also known as Errors and Omissions insurance and is most often purchased by businesses that provide professional services. It covers the professional business owner from malpractice, errors, or negligence in the services provided to customers. Some states require certain professions, such as doctors, to carry this type of policy.

Trade Credit Insurance
Trade Credit Insurance protects you against loss of income arising from commercial difficulties such buyer going bankrupt or refusing to pay, or increased political uncertainties. This is also a creative option for domestic and international business for risk management as well as improving cash flow and expanding credit line. Now you can spend less time worrying about non-payment from your customers.

Wage Compensation Insurance
This insurance can help you provide wage compensation to your staff in case of accidents or illnesses such as required by law as an employer.

X factor insurance
For weird and wonderful insurance requirements it is possible to obtain tailor made cover for a specific requirement or specialised business.

Workman’s Compensation Insurance
Any business that hires employees outside of the owner’s immediate family should purchase a workman’s compensation policy. In fact, most states require this coverage. If an employee is injured on the job, this policy covers their medical expenses and loss of income. In the case of permanent disability, a workman’s compensation policy can provide benefits until the employee reaches retirement age. Most business owners are not required to cover themselves or any workers in their immediate family. If they opt-out of coverage for themselves, they should look into personal disability insurance. Rates are based on hours worked and the average injury rate for a specific industry. For example, residential construction workers who work on roofs are rated higher than those who install interior trim because of the increased chance of falls from high work areas.

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