Property Insurance
Running a business requires substantial capital investment, and safeguarding your assets, including buildings, machinery, stock, and other contents, is paramount for the long-term health and sustainability of your organization. Our property insurance solutions not only offer you peace of mind but also ensure that you receive the right coverage and timely claims support in case of any unforeseen accidents or incidents.
Our products within this segment include:
URIIC’s Fire Insurance Policy safeguards both immovable and movable property. This coverage is vital for mitigating the financial impact of fire-related loss and damage, helping entrepreneurs rebuild and restore their assets and business operations to normalcy. The policy covers a wide range of property, including buildings, machinery, furniture, contents, and stocks. It also protects against various perils like lightning, explosion, riot, and more. In cases of partial loss, repair and replacement costs are covered, and with a reinstatement value clause, the cost of reinstatement is reimbursed. Premium rates depend on property type and features, among other factors. Please contact our Technical Staff for policy details and quotations. Note that there are exceptions and exclusions, including theft by employees and war-related losses.
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This insurance indemnifies the insured for accidental physical loss or damage to the insured property at the specified premises. Coverage includes a wide range of perils such as fire, theft, and more. Typically, this coverage lasts for one year but can be extended up to two years if needed. The sum insured can be based on the actual or new replacement value and should adequately cover the property. It’s important to determine the sum insured properly to avoid under-insurance in case of a claim.
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Personal Accident Insurance, particularly Group Personal Accident Insurance, is ideal for companies and firms. Accidents, which can lead to disabilities or fatalities, are a common occurrence. This insurance provides compensation in such unfortunate events and is well-suited for organizations looking to cover their employees and members under a single policy. It covers a range of scenarios, including accidental death, permanent total disability, medical expenses, and more. Tailored policies can be created to meet specific group requirements, with premiums based on factors like sum insured, age, nature of work, and optional benefits chosen.
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Businesses can face losses due to fire and its aftermath, including fixed expenses like salaries and rent. Business Interruption cover is vital, requiring a Property All Risks or Fire Insurance Policy. It factors in elements like gross and net profit, standing charges, and annual turnover. The indemnity period varies based on recovery time. Deductibles apply, and there are exceptions and exclusions.
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This is a package policy covering loss and/or damage to the hotel property.
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URIIC provides insurance protection under the Money Insurance Policy, safeguarding cash, checks, and securities from losses and damage. This “all risks” cover applies when money is in transit, in a safe, during working hours, in a bank’s safe, or in the care of designated staff. Customized extensions are available. Factors considered include limits on annual carrying and maximum safe-keeping amounts. The rate is applied on a “Per Mille” basis and depends on risk nature, location, and security measures. Key exclusions include theft by employees, losses from using a key, and war-related incidents. For comprehensive details, refer to the policy or consult our Technical Staff.
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URIIC’s uniquely designed Fidelity Guarantee Insurance Policy protects employers from exposures like employee misappropriation and embezzlement. Employers should consider factors like the number of employees handling valuables and their credibility. The policy covers losses due to employee forgery, embezzlement, larceny, and fraudulent conversion during their duties. Premium rates depend on the aggregate limit of indemnity and per capita basis.
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The Banker’s Blanket Bond is tailored for banks and financial institutions, offering comprehensive insurance protection for their assets and liabilities. It includes various insuring clauses to cover different contingencies, such as employee dishonesty and property damage. Premium rates vary based on coverage scope, security measures, and past records. Contact us for more information.
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URIIC’s Jeweler Block Insurance is specifically designed for gold and jewel merchants. It protects against loss and damage to stock, furniture, and fixtures. The rate is based on the Total Sum Insured and coverage scope, security measures, and housekeeping. For comprehensive details, refer to the policy or contact us.
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Ideal for a wide range of businesses, including stationers, grocers, and various shops, this package insurance covers multiple risks, such as fire, burglary, money, and more. Additional insurances like Business Interruption, Goods in transit, and Plate Glass can be added as needed.
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Ideal for homeowners and tenants, this package insurance covers various risks for homes. It includes protection against fire, liability to the public, and more. Premiums are based on the sum insured and policy limits, which can be customized to suit individual needs. Contact us for detailed information.
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URIIC offers a Workmen’s Compensation Policy that indemnifies employers against all sums payable under Iraqi law. This policy covers compensation to employees for accidents during employment. Extensions include medical expenses and employer’s liability. Premiums are based on estimated annual earnings and the nature of work. For comprehensive details, refer to the policy.
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URIIC offers Employer’s Liability Insurance as an extension under Workmen’s Compensation Insurance or as a standalone policy as per the requirements of customers
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This policy is suitable for all entrepreneurs exposed to liability due to negligence arising out of accidents in the course of their business operations.
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URIIC provides coverage to medical establishments, doctors, and professionals against liability suits for negligence or malpractice. This insurance safeguards against damages resulting from bodily injury, mental injury, illness, disease, or death of patients due to the Assured’s negligent acts. Premium rates depend on factors like the limit of indemnity, turnover, and the nature of medical services. For detailed terms and conditions, refer to the policy wording.
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