Commercial Risk
Commercial Risk is the risk where business owners are exposed to in running their operation. A business owner needs to protect their assets of the business such as building, stock, plant & machineries, company owned vehicles including uncollected debts in the event of unforeseen losses such as fire, flood and other incidents that may affect their operations.
| Industrial All Risks Insurance (IAR) is an all risks insurance, which has wider coverage than traditional Standard Fire and Special Perils Insurance policies. Buildings, Furniture, Fixtures and Fittings, Machineries & Equipment and Stocks (Raw materials / Finished goods / Semi-Finished Goods) with combined value exceeding RM100 million can be insured under IAR Insurance. |
| A Business Interruption Insurance or consequential loss is an indirect adverse impact caused by damages to business property or equipment. A business owner may purchase insurance to cover any damage to property and equipment, and may also obtain coverage for secondary losses. A consequential loss policy or clause will compensate the owner for lost of business income including wages. |
| Equipment All Risks policy covers loss of or damage to the mobile equipment, its accessories and parts whilst attached thereon as a result from accidental collision or overturning, fire, flood, riot, strike and malicious damage, external explosion, self-ignition or lightning and theft. |
| Assets applies to building, stock, plant & machinery. Assets Insurance is also known as fire insurance in Malaysia and is a legal contract between an insurance company and the policyholder which guarantees that any loss or damages caused to the policyholder's property in a fire will be paid by the insurance company subject to policy terms and conditions. Fire insurance provides coverage against incidents of accidental fire, lightning, explosion, flood, storm, impact damage, bursting of water pipes and tanks etc. |
| Commonly known as Contractors All Risk Insurance, this insurance typically includes cover for the project or contract work undertaken and provides cover for the building works itself, whether completed or in progress. It also includes cover for all materials which are stored on or immediately next to the site on which you are working. |
| Commercial Vehicle Insurance covers vehicles used for business against repair cost arising from accidents and total loss of the vehicle. It also includes a third-party liability insurance against bodily injury and property damage. |
| During the recent pandemic, we have seen many business shutting down its operations and many business owners are highly concern on collecting their money from debtors as the world is hit by economic crisis. Trade Credit Insurance is an insurance that insures you against your buyer in the event that they fail to pay due to insolvency or default in payment. This insurance covers both exports and domestic sales. |