Pecuniary Insurance
It is a type of insurance coverage for monetary loss due to a wide range of factors from external and internal influences. Specifically, under this coverage only money lost is payable upon proof of claim.
Fidelity Guarantee
It provides cover against the financial loss suffered by the Insured as a result of fraud/dishonesty of employees of the insured up to the maximum limit selected for insurance per employee.
Money in Safe and in Transit
It provides coverage against the theft or looting of cash and assets carried between businesses and banks or other businesses, which may arise due to armed robbery or theft as a consequence of gun threats or use of force by third parties.
Bonds
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Bid Bond: The product is a three party contract, in which the Insurer (Surety) by means of a bid bond covers the risk for the oblige of withdrawal of a winning bid by the Principal. It serves as collateral against withdrawal of a bid.
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Performance Bond: The contract document entered into by the contractor in writing with the employer is the source and is made part of the performance bond insurance. Issued after a bidder has been awarded a project.
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Advance Payment Bond: It is a Surety product that protects the money being advanced to a Contractor at the start of a project. The Bond will protect the Beneficiary for the full advanced amount should the Contractor default on the agreement.
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Maintenance Bond: It is a type of surety bond that protects the owner of a completed construction project for a specified time period against faults and defects in workmanship, materials, and design that could arise later if the work was done incorrectly.
