Master in commerce

Semester:
4th Regular
Sir Muhammad Shahid R
Noon Business School
Submission Date: 13 JUNE, 2021

The United Insurance Company of Pakistan Limited (UIC).

History:
The United Insurance Company of Pakistan Limited was established in the year
1959 on the Twentieth day of October. It was operational in Pakistan including
East Pakistan (now Bangladesh). UIC operating more than 100 branches all over
Pakistan. UIC doing General business including Group Health Insurance, Travel
Insurance (Health), Travel Bonds & Guarantees, Livestock and Crop Insurance.
 Type of Company:
It is a public limited company listed in Pakistan Stock Exchange
Limited (Formerly Karachi Stock Exchange Limited). UIC directors hail from
various vocations & professions.

Status of Company:
PIC – Public Interest Company

Insurer Financial Strength:

“AA” by PACRA – Press Release

Rating Agency:
The Pakistan Credit Rating Agency Limited (PACRA)

Rules and Regulations:

 Companies Act, 2017
 Insurance Ordinance 2000
 Income Tax Ordinance 2001
 Pakistan Stock Exchange Rules & Regulations

Head Office:
 UIG House,
6-D, Upper Mall,
Lahore, Pakistan.
U.A.N.: (+92-42) 111-000-014
Tel.: (+92-42) 35776475 to 83, 042-35776485
Fax: (+92-42) 35776486 – 87
E-mail: uicp@theunitedinsurance.com

Trade Membership:
 Karachi Chamber of Commerce & Industry (KCCI)
 Insurance Association of Pakistan (IAP)
 Lahore Chamber of Commerce & Industry (LCCI)
 Pak Afghan Chamber (PAJCCI)
 Company Enlisted with:
ZTBL RUDA, NHA,  DHA,  PHA,  IATA,  LDA LAYARI DEVELOPENT
AUTHORITY,  FHA, FWO,  NPHP,  WARSA,  POWER AND  ENERGY
PROJECTS &  CPEC.

PRODUCTS

FOR INDIVIDUALS:
 1)-TRAVEL INSURANCE:
Travel insurance provides medical and financial assistance during
traveling. Before starting a trip make sure that traveler must be properly
and securely covered for any emergency aid. There are many travel
insurance companies in Pakistan for providing these services. The United
Insurance Company of Pakistan Limited provides its client with the best.
The UIC is rated AA by PACRA.

Buy Travel Insurance Online:

Clients comfort is our first priority. The UIC initiated the hassle free provision
of buy travel insurance online that can be acquired at anytime from anywhere.

Let “AA’’ rated national insurer provide you:

 Maximum coverage in lesser price.
 Services without any hidden charges & taxes etc.
 Support of European companies for Re-insurance & Assistance Services.
 Transparent premium refund policy.
 Service at your doorstep with nation wide network of 100+ branches.

COVERAGE
PREMIUM
For person aged between 66 and 75 years, increase 50%
For person aged between 76 and 80 years, increase 75%
For person aged between 81 and 85 years, increase 100%
Family Size: Husband + Wife + 3 Children (Less than 18 years)
* 15% premium will be charged extra in case of COVID-19 coverage only.

EXCLUSION
 Pre-Existing medical conditions.
 War, Invasion/terrorism.
 Fire Penalties/ punitive damages.
 For more detail on exclusions refer to policy wording.

COMPENSATION FOR VOVID 19

 Post-Treatment Screening/Test taken in abroad is only covered when /if
resulted Positive.
 Self-quarantine/ quarantine in Private Hotels or Hospitals or at home is not
covered under the said policy terms & condition.
 U.S $100 deductible on loss arising from COVID-19.
 Follow-up treatment is only covered when/if a followed up test is Positive
and prescribed by a medical practitioner of recognized hospital.
 In Case the Insured Person tested positive with COVID-19 during a trip
covered, the Insurance Cover only medical Expenses & Hospitalization Abroad.
 All claims related to COVID-19 will only be considered after the submission
of Negative test report undertaken within 96 hours before travel.
 All claims related to COVID-19 will be settled on Re-imbursement basis in
PKR only.
 Maximum Insured’s age 70 years to obtain COVID-19 Coverage

2)-MOTOR, VEHICLE INSURANCE

 The United Insurance Company of Pakistan Limited facilitate its clients with
best motor- auto sure plan. United Insurance provides affordable packages with
great benefits and services which are as follows:

RISK COVERED
 Accidental External means
 Riots, Strikes & Malicious Damages
 Theft
 Fire, External explosion, self-ignition or lightning or frost
 Third Party Liability

VALUE ADDED FEATURES

 Free towing to the nearest workshop
 Get your car repaired from the workshop of your own choice
 UIC claims experts will help in getting the final police Investigation Report
 Free PA/PTD covers of Rs.30,000/- to the deceased paid driver. (In case of
insured car accident only)
 Free death repatriation of the driver within Pakistan
 Funeral expenses & arrangements for the said person will be borne by UIC
 No hidden taxes & charges
 We commit to settle all theft and total loss Claims within 30 days after
reporting/submission of requisite documents

3)-CORPORATE HEALTH INSURANCE

 The best gift to anyone is the secure future and present with good health insurance
policy. UIC gives you the best health insurance plans and affordable quotes. The
details of the health insurance is following:
 

Overview – Taking all health worries off you

 Comprehensive branded scheme offering value added features and complete
solution for all health worries.
 A vital tool in hassle free delivery of health care services; we will be there
when you need someone to help.
 Offsetting huge medical expenses that have large bearing on health and its
maintenance.
 Conceived and customized plan uniquely designed to address all health
exigencies requiring hospitalization.
 Among very few national companies to cover around the world with direct
settlement of medical expenses worth Rs2.3 million abroad.
 Fulfills all requirements envisioned in government policy of healthcare for
all.
 Insurance arrangements with world’s top re insurers.

Benefits
 Curtails administrative and financial burden of the employer.
 Because of branding we offer more than the market.
 Employer wins loyalty of the employees thereby enhancing efficiency and
productivity…motivating to work more proactively.
 Extensive nationwide branch network of over 100 branches; almost every
reputable hospital is on our panel in every town.

VALUE ADDED FEATURES

 Dreaded diseases. (Cancer, Heart Attack, Kidney Failure, Stroke, Cirrhosis,
of Liver, AIDS – due to blood transfusion).
 Pre & Post hospitalization benefits – Any expenses incurred on medical
consultation or tests within 15 days prior to or after Hospitalization would also be
covered.
 Death repatriation within Pakistan.
 Funeral expenses and arrangements.
 Service at your doorstep with elaborate network of 105 branches.
 Win-win-win position —- employee-employer & company.

WHAT’S COVERED

OPD Benefits
 G P and Specialist Consultation fees.
 Prescribed medicines.
 Laboratory and other Investigations. (e.g. X-Rays, ECGS & Ultrasound etc).
 Dental care benefits.
 Besides doctors, Consultations with registered Hakims and Practicing
alternative medicine specialist is also admissible.


Hospitalization
 Hospital Expenses Per Person Per Confinement Per Ailment. (Pregnancy &
Dreaded Diseases excluded ).
 Room Rent, Nursing expenses.
 Hospital Expenses includes Surgical expenses, Anesthesia.
 O.T. Charges, Consultation Fee, Nursing Charges etc.
 Investigation and Medicines, Blood, Oxygen Supplies, Dialyses
Chemotherapy / Radiotherapy cost of pacemakers ( subject to Hospitalization
Unit).
 Miscellaneous Expenses Pre & pos
t hospitalization expenses.
 Note: 24 Hrs. In-Patient confinement as a resident Patient is compulsory.

Specialized Investigation

Specialized investigation on outpatient basis on recommendation of a specialist

only, which does not require hospitalization.
These include the following tests only:
 CAT-SCAN
 MRI
 NUCLEAR SCANS
 ANGIOGRAPHIES
 EEG, EMG, ETT & ECHO

Dreaded Diseases
 Management of acute Myocardial infarction (Heart Attack)
 By-pass grafting
 Cancer
 CVA- Stroke
 Kidney Failure
 Renal and other major organ transplants
 Major burns
 AIDS
 Knee joint replacement
 Chemotherapy
 Multiple Fractures
 Hip bone Replacement

 Dental Cover
Following are the benefits under ‘Dental Care’ cover.
 Dental care is included in the prescribed OPD (Per family).
 Dental Care include consultation and medicine, treatment of acute dental
conditions and diseases of gums.
 All orthodontic procedures, making & placement of prosthesis (e.g.
dentures), scaling & polishing are excluded.
 Total payable cumulative dental bills should not exceed 40% of the total
OPD limit (per family).


Maternity Benefit
 Gynaecologist fee
 Anaesthetic fee
 Diagnostic tests
 Miscarriage
 Medicines
 Baby’s Nursing Care
 Labour Room charges
 Operation Theater charges etc.

WHO’S COVERED
 Corporate sector employees up to the age of 65.
 Special modules are designed to cover dependent parents.
 Age of daughter can be relaxed up to her marriage.
 Age of son can be relaxed up to till 25.

CLAIM SETTLEMET PROCEDURE

 All claims are filed on a simple easy to fill Performa by the employee duly
endorsed
 by the employer or nominee.
 Original prescription bills, receipt etc should be attached.
 Direct settlement of claims with panel hospital.
 All claims should be filed within four (4) weeks.

4)-Home Secure Plan

Home insurance is same as property insurance and it covers all the losses and
damages occur at individual’s house. Now a days, Pakistan is facing many crises in
such condition everyone should need a proper security for its home and business.
The United Insurance Company of Pakistan Limited is one of the best insurance
company, providing best services for home insurance. UIC protect your dreams
through home secure plan.

COVERED
Home Secure Plan covers loss or damage caused by:
 Armed robbery, burglary and house breaking
 Earthquake
 Rain, Flood, Cyclone & Severe Storms
 Riot & Strike damage
 Acts of Malicious Persons
 Fire and Lightning
 Explosion
 Falling Aircraft and other Aerial Devices
 Water damage due to bust pipes
 Impact of Motor Vehicle
 Impact of falling trees
 Accidental loss breakage (glazing)
 Accidental damage to underground tanks
 Loss of Rent
The Loss of Rent feature covers the loss of rental income or additional expense of
renting substitute housing incase and insured peril renders your home
 uninhabitable. It’s is only applicable if building is covered under Home
Secure Plan, up to 10% of Sum Insured for Building.

Your Valuables
This unique insurance plan covers high value items including jewelry and cash.
Jewelry needs special protection not just because of its high intrinsic value but
because of the sentimental attachment. Women so often have with their ornaments.
Accordingly Home Secure Plan is designed to cover jewelry in the following
situation.

5)-Personal Accident  Policy for Students

Student insurance covers the students when they are out for studying. Insurance for
students is the biggest satisfaction to the parents. The United Insurance Company
of Pakistan Limited provides the best packages for personal accident insurance for
students. Every student should avail accidental student insurance so it can become
a helping hand at the time of emergency.

Student Travel Insurance

Co-curricular activities are the best way of learning. Trip and tours provide
students more opportunities for mind development but on the other hand safety and
 security is always at first priority. In case of emergency student travel insurance
must be there. UIC serve with the best coverage for student travel insurance.
Blanket School Coverage protects the school students against all kind of
accidentsPersonal Accident insurance provides benefits in the events of loss of life,
limb, sight, hearing, speech, and loss of use/paralysis because of an accident. Cash
amount is payable in cases of hospitalization due to an accident.
The way, future of Pakistan is being transported, from home to school and back,
most of the transporters are not professionals. As the traffic is increasing on the
roads, changes of accidents are increasing day by day. Just spare Rs. 25/- PM from
kids fee or ask the parents to contribute this minor amount and avail A PEACE OF
MIND

This policy will cover risks

 From home to school & back.
 Only on the working day of school and the child who attended the school on
the day of accident & are on the way.
 In the play area of the school if it is within the premises of school.
 During a trip if they are being escort by a Sr. Official of school.
Only Rs. 25/- Per month for a child up to age of 16 years can provide you a cover
for Rs. 100,000/- against all kind of accidents in or out side the school.
 6)-Shop Secure Plan Plus

You are the breadwinner for your family. But your shop is the breadwinner for
you! It offers you the opportunity to earn on your own terms, to be your own boss.
The rising trend in consumer expenditure promises handsome returns on your
investment. However these are also anxious times with uncertain law and order and
ever increasing natural calamities.
Regardless of all the precautions you may take, your shop still remain vulnerable
to armed robbery, riots, strikes, fire, natural disasters and freak weather conditions
among other risks. Loss of income coupled with high costs of construction renders
in next to impossible to repair, restore or replace your commercial property.
UIC endeavors to cushion the financial impact of loss related to your shop and
stock by offering a customized insurance program for your “bread and butter”
assets.

COVERS:
Shop Secure Plan Plus protection covers loss or damage caused by:
 Armed robbery, burglary
 Riot & Strike damage
 Earthquake
 Rain, Flood, Cyclone & Severe Storms
 Acts of Malicious Persons
 Fire and Lightning
 Explosion
 Falling Aircraft and other Aerial Devices
 Impact of Motor Vehicle
 Loss of Rent
The Loss of Rent feature covers the loss of rental income or additional expense of
renting alternate shop in case an insured peril renders your shop unusable. It is only
applicable if Building is covered under Shop Secure Plan Plus up to maximum of
10% of Sum Insured for Building.

YOUR CASH:

This unique insurance plan includes FREE cover for Cash amounting to 5% of
Sum insured for Contents upto maximum of Rs. 10,000. Cash within the limit is
protected while kept in a safe on shop premises.

7)-Self Secure Plan Plus

This old saying has never been as true as its today. In this age of sky rocketing
medical cost, poor health weather cost by natural causes or by accident not only
results in physical misery but also immense financial burden. Loss of health spells
loss of wealth.Unfortunately, illnesses and accidents are apart of life. No matter
how many preventative you take, you are still exposed to a certain level of risk at
all times. Health insurance appears to be the logical solution. But these plans, in
general are available to groups.UIC brings you all the benefits of group health
insurance in a plan designed specifically for individuals.

COVERS:
 Self Secure Plan plus provides for distinct protection segments with benefits
depending on the plan you select:
 Aggregate benefits for accidental death or Permanent Disability
 Medical Expenses (Accident only)
 Inpatient Surgical Expenses (illness only)
 Burial and Repatriation

PROTECTIVE SEGMENT:
 SEGMENT 1 provides financial protection against death, permanent total
and permanent partial disability caused by and occurring within 12 months of an
accident.
 SEGMENT 2 provides for medical expenses arising out of an accident any
where in the world.
 SEGMENT 3 provides for medical expenses of surgical operations due to
illness. The procedure must involve an overnight stay at a registered hospital or
clinic in Pakistan. This segment excludes any expenses in respect of health
conditions existing at inception of cover.
 SEGMENT 4 provides or repatriation and burial expenses following death
due to natural causes anywhere in the world. This Segment excludes death due to
health conditions existing at inception of cover.
 The maximum age for new cover SSP-49 years. However in case of existing
covers age starting at least 3 years before the 50th birthday the cover may continue
till 55 years.

8)-Education Insurance in Pakistan

THE CHILD EDUCATION INSURANCE is gives total coverages for child
education expenses. In Pakistan 37% children are illiterate it shows that these
 children can’t get any opportunity to show their skills. Up and down is a part of life
everyone should always be prepared for any type of emergency. The precautions
for the secure future of a child is child education insurance. UIC provides flexible
education insurance plans.

Vision behind the plan

CHILDREN ARE OUR FUTURE. We are not into this business just to make
money; rather we have taken upon ourselves the responsibility of contributing to
the welfare of our children. Many a time, our most talented children are left
behind, often sidelined in the event of a mishap. We insure a child is not left
behind for want of resources or become victim of an eventuality. Our Education
Secure Plan is precisely tailor-made to protect future of our children.

BENEFITS:
 Curtails financial burden of school and parents.
 Because of branding we offer more than the market.
 School management wins trust of the parents thereby enhancing image and
credibility of institution.
 Extensive nationwide branch network of over 105 branches; almost every
reputable hospital is on our panel in every town.
A WIN WINWIN SITUATION
A marketing edge for the institution offering valuable services and incentives for
the students.

WHO IS COVERED
Emergency Accidental medical cover for students during school time.
 Personal Accidental Death (PA) and Permanent Total Disability (PTD)
cover for the Parents/Guardians.
 All Educational expenses i.e Exam Fee, Tuition Fee, Computer Fee, Sports
and Lab Charges, Books, Uniforms etc. Upto Grade 10.
 Emergency accidental medical cover for students during school times.

VALUE ADDED FEATURES

 No Additional Taxes and charges.

 Hassle free claim settlement.
 Emergency accidental medical cover.
 Special discount in UIC product line for parents

CLAIM SETTLEMENT PROCEDURE

 All claims are filed on a simple easy to fill Performa duly endorsed by the
school management.
 Original prescription bills, receipt etc. should be attached.
 Direct settlement of claims with panel hospital is also available.
 All claims should be filed within two (2) weeks.

B)-FOR BUSINESS:

1)-FIRE INSURANCE PLAN

What’s Covered
The safety of customers is our first priority. United Insurance provides large range
of Fire Insurance coverages to facilitate our clients. The coverages are given
below:

Riot and Strike Damage

This policy provides coverage against loss or damage caused due to riot & strike or civil

commotion or malicious damage due to any persons who are members of an

organization whose aim is to over-throw any legal or defacto Government by terrorism

or violence.

Allied Perils
This is the most important and basic form of insurance and is essential for all types
of business concerns. Fire and Allied Perils Insurance provides comprehensive
cover in respect of loss of or damage to your property against fire and lightning. To
further safeguard the interest of our valued clients the policy can be extended to
cover riot and strike damage, malicious damage, atmospheric disturbance,
earthquake (fire and shock), explosion, impact damage, aircraft damage etc.

Home Insurance Plan

To live in one’s own home is cherished by every one of us. In these tough times, it
is very hard to retain a house, which is exposed to several risks such as riot and
strike damage, malicious damage, atmospheric disturbance, earthquake (fire and
shock), explosion, impact damage and aircraft damage. The United Insurance
provides a policy to cover the interest of homeowners. The plan provides coverage
on building as well as contents against the risks the property may be exposed to.
The coverage for buildings includes the risks of fire and all dry/wet perils.
Contents (including jewellery and cash) are similarly covered including the risks of
burglary and dacoity.
Besides material damage, UIC’s Home Insurance also provides for loss or rent,
legal liability to public and domestic servants.
Hotel Owner All Risk
As the name of policy signifies, it is specially designed to cater to all the insurance
needs of a hotel owner. This policy has been adapted from the wording prevalent in
international markets, as such coverage provided by it meets the requirements of
management agreements, which owners usually enter with international chains of
hotels. This policy is divided into 8 sections covering fire and supplemental Perils
Insurance. Business interruption following Fire and Supplemental Perils,
Comprehensive Plate Glass Insurance, Boiler and Machinery Breakdown
Insurance, Business Interruption following Machinery Breakdown, Comprehensive
General Liability, Comprehensive 3D Bond Insurance and Workmen’s
Compensation Insurance.

Terrorism Cover
We live in an altogether different world after September 11, 2001. Post 9/11
scenario resulted in removal of terrorism cover globally, leaving the insured and
the insurer at a difficult juncture. We, at The United Insurance Company of
Pakistan Ltd. created niche for our valued clients by designing a policy exclusively
for the risk of Terrorism. This policy is issued in conjunction with Fire and Allied
Perils Policy protecting the interest of insured up to a specified limit.
 2)-LIVESTOCK INSURANCE PLAN

An insurance policy having coverages for losses and damages due to the death or
injuries of livestock. Pakistan is an agricultural country more than 50% of
population are resides on farming and our economy is based on it which is directly
or indirectly linked with livestock. For the protection of one’s livelihood livestock
insurance companies in Pakistan provide their services.
The United Insurance Company of Pakistan Limited main aim is to serve with the
best.

Risk Covered
United Insurance provide suitable coverage plans for the livestock insurance.
These coverages are as following:
Financial protection against mortality, theft & disability of the insured
animals including the risk of calving.

Importance of Livestock Industry

 Contributes approximately 11.39% to National GDP.
 Provides important dietary products like milk, meat and processed dairy
items.
 Provides hides and skins for the leather industry.
 Has the potential of repaid growth and fast economic returns.
 Benefits
 Proper awareness & care of livestock.
 Financial assistance in case of death of livestock.
 Increase in profit due to healthy livestock.
 Proper guidance & supports in case of livestock’s sickness.
 Provision & use of modern method of care taking of livestock.


Eligibility
Mandatory for all farmers receiving livestock loan from the bank.

Livestock Covered
All livestock for which the bank is advancing loan to its borrowers.

Perils Covered
Mortality due to natural perils, fire, theft, poisoning, diseases and risk of calving.

Indemnification
The comprehensive coverage is extended upto 80% indemnity .i.e insured shall
bear 20% of loss and cost of skin of dead animal.

 Claims Settlement Procedure

 Intimation letter in writing within 24 to 48 hours.
 Claim form.
 Attested photocopy of NIC card of Owner/Borrower.
 Veterinary certificate.
 Postmortem examination report.
 VA will take 4 photographs clarifying the tag number & cut the tag.
 The skin amount will be deducted from the claim as per policy terms &
conditions. Animal skin will not be removed in case of deceases like anthrax.
The borrower should take the following steps:
1. 4 photographs clearly showing the tag number & cut the tag.
2. The dead animal may be deeply buried.
3. The cost will be reimbursed to the insured.
4.

Payment of Claim
 Mandatory for all livestock advances.
 The Bank will provide all possible details on specified proposal form along
with Demand Draft to the Insurance Company.
 The Bank Manager is required to issue undertaking incase of delay in
payment of Premium for New/Renewal cases.
 The Bank Manager may take signature of the borrower on respective Iqrar
Nama on disbursement of loan.

Issuance of Policy / Proposal Form

The Insurance Company will issue policy subject to:
 Receipt of complete information.
 Payment of premium.
 VA will visit the site for tagging and verification on the basis of the
information provided by the bank manager.
 If TAG /Ring got drop, broken or misplaced, the borrower should
immediately inform to the company as well as the bank branch in order for VA to
retag the animal.
 The livestock policy will be valid for one year.
 3)-CROP INSURANCE PLAN

Crop Insurance
Crop insurance deals with the financial protection against natural disasters, fire &
lightening and insect / pets attack on standing crop. According to the survey,
Pakistani economy is based on agricultural production so that’s why for the safety
of farmer’s investment agriculture insurance become essential. Here for your help
the UNITED INSURANCE provides you the best services for Crop Insurance.

Farmer Insurance
The care of human life is our first priority. Life is more worth than anything. From
this point of view farmer insurance become equivalent important. The UIC offers
you affordable farmer insurance packages with great benefits.
The crop insurance details are given below:
Farmer
– Project his source of credit and debit carrying capacity.
– Low premium rates.
Lender (Bank)
Protected against default when crops fail.
Insurer
Selling and administration cost is greatly reduced due to larger business volume /
turnover.
 Farmer
Mandatory for all borrower farmers.

Crops Covered
All field Crops.
Types of Cover
The consortium provides two types of cover:
– Catastrophe Area Loss Cover (CALC)
– Catastrophe Individual Loss Cover (CILC)
Note: CILC will be determined in conjunction with CALC.
Perils Covered
Excessive rain, floods, drought, hailstorm, cyclones, insect/pest attack,Frost, wind
storm and fire & lightening.
Period Covered
From sowing/transplanting till harvest i.e. standing crop.
Sum Insured
Amount of inputs or the outstanding amount of loan including mark-up.
(Upto the amount shown on the Crop Policy).

Indemnification
The Indemnity shall become payable provided:
 The insured crops situated in an area declared as “Calamity affected” by the
government and the damage to the crop was due to any of the insured perils.
 The declaration is notified in the Gazette.
 The Insured farmer is exempted from the ushr / land revenue, etc as a result
of such
declaration.
 The name of the farmer and the insured crop has been entered in the USHR /
LAND REVENUE Khasra gardawari.

Compensation
 Identified crop losses upto 25% will not be claimed.
 Losses from 25% – 50% will be compensated as 50% of the outstanding
loan.
 Losses >50% or yield loss up to 75% will be compensated as 100% of the
outstanding loan.
Reference Yield
Reference Yield means the average yield (kg/Acer or kg/hectare) of the insured
crop of same variety for the last three years (excluding any abnormal year) for the
smallest of union council, tehsil or district for which the official yield records are
available with Agri / Revenue Department.

Procedure of Payment of Premium 

 Compulsory for all borrowers.
 The Bank will provide all possible details on specified proposal form along
with Demand Draft to the Insurance Company.
 The Bank Manager is required to issue undertaking in case of delay in
payment of
premium for New/Renewal cases.
 The Bank Manager may take signature of the borrower on respective Iqrar
Nama on
disbursement of loan.

Particulars required for Crop Policy

 Particulars required for renewal
 Number(s) and date(s) of the Pay Order, Demand Draft(s).
 Branch Name & Code.
 Name(s) of the Borrower(s).
 Father’s Name of the Borrower(s).
 Complete Address.
 Photocopies of the CNIC(s) or CNIC Number.
 Loan Account Number & Financed Amount.
 Date when loan Granted.

Issuance of Policy / Proposal Form

The Insurance Company will issue policy subject to:
 Receipt of complete information.
 Payment of premium.
 The Crops Policy will be valid from sowing/transplanting till harvest.
Claim Settlement

 Payment of Crop Catastrophe Claim

 Intimation letter within 72 hours.
 Attested copy the Gazette notification by the Government.
 The Ushr/Land revenue Jamabandi / Girdawari at the village/teh/chak level
showing the Farmer’s name & Crop.
 Copy of field map (Shajra Kishtwari / Aks Shajra).
 Copy of Insurance Policy and CNIC.
 Attested computerized Loan statement.
 Attested copy of the application &/or agreement between the borrower & the
Bank.
 Outstanding Bank Balance certificate at the time of calamity.
 Any other documents to establish the incident attracting the loss.
 Surveyor’s assessment report.

4)-ENGINEERING INSURANCE PLAN

Engineering insurance covers wide range of threats associated with engineering.
For the recovery of these risks engineering insurance companies become saving
hand. The United Insurance Company of Pakistan Limited gives you the best
services and packages for engineering insurance because during construction it
become an essential.

Machinery Breakdown Insurance

Machinery breakdown insurance covers machinery damage and losses. As safety is
our business, UIC protect all your needs during construction in engineering
insurance. The detail of packages are following:

Bonds
Bid bond is issued on behalf of contractors in connection with the submission of
tenders for contracts with public authorities and private owners.
Contractor’s All Risk Insurance
The basic concept is to offer comprehensive and adequate protection against loss
or damage in respect of the contract works, construction plant and equipment
and/or construction machinery, as well as against third party claims in respect of
property damage and/or bodily injury arising in connection with the execution of a
construction project.

Contractor’s Plant and Machinery Insurance

This is an insurance of contractors’ plant and machinery on an annual basis. It
covers any loss or damage occurring at work, at rest of during maintenance
operations and is limited to a specific construction site.
Electronic Equipment Insurance
This insurance provides cover for all electrical systems which generally have only
a moderate power requirement while such equipments are at work, at rest or during
maintenance operations

Erection All Risk Insurance

This branch of Engineering Insurance offers comprehensive and adequate
protection against all the risks involved in the erection of machinery, plant and
steel structures of any kind as well as third party claims in respect of property
damage or bodily injury arising in connection with the execution of an erection
project.

Guarantees
This bond is issued on behalf of a contractor and in favour of the project owner to
guarantee the full and due performance of the contract.
Machinery breakdown
It was developed to grant industry effective insurance cover for plant, machinery
and mechanical equipment at work, at rest or during maintenance operations.

5)-MARINE INSURANCE PLAN

MARINE CARGO AND HULL INSURANCE

The United Insurance Company of Pakistan Limited provide two type of coverages
for its clients comfort. Marine cargo insurance covers all your investment and
marine hull insurance covers all types of vessel operating. The details are
following:

Marine Cargo Insurance

Marine Cargo insurance protects all goods while in transit depending upon the
needs of client. Three broad types of cover are available i.e. Institute Cargo
Clauses “A”, “B” & “C”. The cover takes care of risks associated with different
modes of transportation.
Marine Hull Insurance
This cover is available for ocean going vessels, barges, tugs, dredgers, fishing
trawlers, yachts, wooden dhows, pleasure/speed boats etc., under Institute Time
Clauses Hulls. Cover is also provided for last breakup voyages from Karachi
anchorage to Gadani.
 MISCELLENEOUS INSURANCE PLAN

Miscellaneous insurance that provide benefits to the staff and covers variety of
risks. This mixed insurance policy is one of the most important insurance that is
necessary for secure future. The United Insurance Company of Pakistan Limited
gives the superior services for miscellaneous insurance.

Workmen’s Compensation
Employees are the most precious assets and result in the growth and prosperity for
any organization. To protect the rights of this invaluable asset Workmen
Compensation / Employer Liability Insurance provides coverage for any legal
liabilities of the employers arising out of and in the course of employment as per
Workmen Compensation Act, Fatal Accident Act, or at Common Law.
Accident Coverage
This cover operates 24 hours and on worldwide basis. It Provides for payment of
specified capital benefits following accidental death, bodily injury, permanent total
disablement, permanent partial disablement, temporary total and temporary partial
disablement caused by an accident.
In addition the cover also provides reimbursement of emergency transportation to
the nearest Hospital and also expenses incurred for preparation and transportation
of the mortal remains of the insured person from the place of death to home and
can also be extended to cover medical expenses.

Cash in Transit Insurance

This policy provides coverage against loss of money whilst in transit due to
forcible, violent, external and visible means.
COCLUSION:
It is concluded that, The United Insurance co. Pakistan limited (UIC) is a wide
range company in the market of insurance which cover all risk related to our life,
our property, our health and our business.