Union Insurance’s Property insurance coverage has been comprehensively designed based on the understanding that your properties are a valuable investment, whether they are second homes, office equipment, or even furniture. The coverage under these policies are tailored to suit your requirements and budget, to protect your interests in the event of damaged or lost property.
Business Interruption insurance, also known as time loss, consequential loss, and loss of profits insurance, provides coverage against financial losses caused by interruptions to a business due to property damage. This includes factories damaged by fires, for instance, but it also extends to the loss of business income due to this damage, such as renting alternative premises until repairs are made.
Certain expenses may be incurred following loss or damage to try to maintain business activity, such as renting alternative premises, hiring additional staff and additional advertising. A business interruption policy provides cover for such risks, so long as there is an equivalent saving in the loss of gross profit claim that would otherwise be paid.
The cover includes the cost of accountants' or auditors' fees incurred in preparing a claim.
Our team is dedicated to providing tailor-made insurance and risk management services that cater to both individuals and corporates. Our priority is to deliver creative and cost-effective risk management and transfer solutions, as well as innovative products to meet the needs of individuals, corporate clients and other stakeholders.
We have dedicated client service and claims management teams to be at your service 24/7, and ensure a smooth and transparent claims process whenever you require it.
Insurance is a means of protection from financial loss. It is a form of risk management against unexpected events. Insurance companies collect premiums to provide this protection. Losses are covered by these premiums.
Insurance protects you financially in a number of ways. Unforeseen accidents and disasters are inevitable; without adequate insurance, they can lead to financial ruin. Insurance mitigates risks by providing a financial cushion against these disasters.
General insurance refers to any insurance that is not life insurance. It provides you with protection against sudden accidents, illnesses, property damage, and financial threats.
General insurance contracts usually last for a year. You will be required to renew the policy every year.
It is important to identify risks and insure yourself against them at the earliest because they can materialize at any time.
You can contact the customer service cell of the insurance company.
Should that fail, you can approach your local insurance authorities or the judiciary.
You may also contact the above if you feel your provider is unfairly refusing to renew your policy.
Insurance is primarily sold through the following:
The proposal form is an important step in the contract between insurance providers and policyholders. It also contains all the information required for preparing the policy in question.
A premium refers to the fixed sum paid over an agreed period of time by the person insured, to their insurance provider.
The deductible is the amount paid out of pocket by the person insured before their insurance provider pays any expenses.
Underwriting refers to the process by which the insurance provider determines whether to approve the policy holder’s application, including the rate of premium.
There is no fixed sum, it varies from product to product.
In the case of death covers, there is no possible way to ascertain the monetary value of human life. However, the usual coverage goes up to match the estimated gross monthly salary of the deceased. In the case of travel insurance, the sum depends upon the medical price index of the country traveled to.
It is crucial to ensure that you are adequately covered by each insurance policy you buy. For asset or property insurance, the market value or reinstatement value of the asset should be taken into question before deciding on the sum insured. If the sum is not adequate, a percentage representing the uncovered portion of the asset is to be borne by the policyholder.
Discounts are usually available on renewed policies with good/no claim history records and low risk factors, but offers vary among individual insurance providers.
Your broker can deposit a cheque from you to your insurance provider, they cannot issue a receipt.
Reinsurance refers to the arrangement undertaken by insurance companies to spread and mitigate risk with other underwriters or reinsurance companies.
UIC's private health insurance offers you both choice and flexibility to help you find a healthcare plan that suits your requirements perfectly, as well as those of your family. From diagnosis to medical treatment, our coverage is carefully designed to secure your health and with it, your peace of mind.
Nothing is more important than being able to provide for your loved ones despite any eventuality. Regardless of your situation in life, you're guaranteed to find a life insurance plan that is perfectly tailored to your needs among the extensive range on offer below.
Whether it's the theft of your personal belongings or structural damage caused by a natural disaster, our comprehensive coverage addresses every single contingency that poses a potential threat to your home, and takes steps to protect you from it.
UIC's group health insurance plans are designed for companies of all sizes, providing employers with straightforward solutions that are guaranteed to protect the interests of their employees as well as their organisation.
UIC's property insurance addresses a wide range of risks, ranging from accidental mishaps to natural calamities. Regardless of the size of your business, we have addressed every measure you need to consider to protect it, as you can see from the array of plans available below.
Whether you want to secure your vessel from external risks or protect the valuable cargo on board, UIC's marine insurance plans offer coverage for every risk you've thought of - as well as some you haven't - to ensure your security at sea.
UIC's fully tailored engineering insurance plans are designed to meet specific risks faced by the engineering industry. We offer security to you and your employees by addressing the particular requirements of your company and protecting you from legal costs, compensation, and expenses.
UIC offers an extensive range of plans to secure yourself, as well as your business, from any sort of liability that may arise suddenly and unexpectedly. This is supplemented by round the clock customer care that will provide you with immediate assistance and make your journey with us as smooth as possible.