Undwriting Training

THE UNITED INSURANCE COMPANY SC
TRAINING ON
03/20/24 <UNIC-ETHIOPIA> 1
MARINE
 Covers all risks of loss of or damage to the subject matter insured.
 Hull
 Sea Cargo
 Air Cargo
Exclusions
 Loss damage expense attributed to willful misconduct of the
assured.
 Ordinary leakage ordinary loss in weight or volume.
 Loss damage or expense caused by
insufficiency or unsuitability of
packing.
 Loss damage or expense caused by
inherent vice or nature of the subject
matter insured.
 Loss damage or expense arising from
financial default of the owner’s
Managers. Charter operators of the
vessel.
 Loss damage or expense arising from
the use of any weapon of war
employing atomic or unclear…etc.
Cover Period
 Sea Cargo 60 days after discharge
 Air Cargo 30 days after unloading
from the air craft

 Inland Transit voyage only
Time Bar
 Claims against Marine Carried

become time barred if an admission
of liability is not obtained within 12
months.
 Time limitation for road and Air
carrier is two years.
Inland Transit
Covers Interest against Theft and or

Fire and or damage all directly
caused by overturning or collision,
or derailment of the carrying
conveyance or collapse or Bridges
and embankment.
Air- Cargo
 Covers loss of or damage to the subject
matter insured against.
Exclusion
Strikes locked-out workmen’s or person
taking part in labour disturbances riots
or civil commotion’s.
Any terrorist or any person acting from a
political motive.
Claim
 Bill of lading/Air way Bill
 Masters Protest
Duties of the Assured and their Agents

Assured and their Agents are required to take
such measures as may be reasonable for the
purpose of averting or minimizing a loss to
ensue that all right are properly preserved and
exercised.
Claim immediately on the Carrier Port authorities

or other Bailees for any missing packages.
Apply immediately for survey by carriers or
other Bailees for any actual loss or
damage found at such survey..
Give notice in writing to the Carriers or
other Bailees within 3 days of delivery if
the loss or damage is not apparent at he
time of taking delivery.
Time Bar
Claims against ship owners become time
barred if an admission of liability is not
obtained within 12 months.
GROUP PERSONAL ACCIDENT
Group Personal Accident
Covers bodily injury caused by violent

accidental external and visible means
which injury shall independently of any
other cause be the direct and immediate
cause of death, loss or disablement.
Risks not covered
 Hunting, Racing, Riding motorcycles,
sports.
 Any accident resulting from attempt
of suicide or International self injury
or whilst the insured is in a state of
insanity or is under the influence of
intoxicants or drugs or from the
insured’s own criminal act or
engaged in mountaineering or the
insured committing breach of low.
 Any pre-existing physical defect
 Child birth of pregnancy in case of
woman.
 Expenses incurred in connection
with and /or incidental to normal or
abnormal pregnancy and child birth
except that one cesarean section is
allowed.
 Any illness arising whilst the insured
person is outside geographical limit
of Ethiopia.
 Eye testing or cost of eyeglasses or
hearing tests or cost of deaf aids or
dental treatment.
 Expenses incurred in connection
with venereal disease.

 Expenses attributed to HIV any HIV
related illness in including AIDS.
WORKMEN’S COMPENSATION
Workmen’s Compensation
 Covers a worker in insured’s immediate
service in a category of work shall sustain
death or bodily injury by accident of
occupational diseases occurring at the
place of work and during the time of his
work by the insured in the business and
if the insured shall be liable to pay
compensation for such death of bodily
injury of occupational disease under
Ethiopia law then the company shall
indemnify the insured against all sums of
which the insured shall be liable.
Uncovered Risks
 Intentional self injury suicide or
attempted suicide.
 Provoked violent attack
 Fighting except in self defense
 Venereal disease or indulgency in drink
narcotics or drugs.
 Accident or occupational diseases
resulting from any act contrary to a
regulation to which the worker’s attention
has been specially drawn in writing.
FIDELITY GUARANTEE
Fidelity Guarantee
 Covers losses sustained by the Employer
through any acts of fraud or dishonesty
committed by the employee, provided that fraud
or dishonesty committed by the employee
during his/her uninterrupted services.
Conditions
 Give written notice to the company immediately
of any act or acts of fraud or dishonest of any
employee covered under the policy.
 Give Information and assistance to enable the
company to sue for and obtain reimbursement
by defaulting employee
 Deduct and money payable by the employer to
the employee and pay to the company.
 Before any liability is incurred or payment is
made full and satisfactory particular and
proof of the complete and final loss shall be
delivered to the company.
 Unless otherwise endorsed on this policy
there shall be no claim.
1. In respect of acts committed by any employee
prior to he date of commencement of the risk.
2. For losses not discovered and reported to the
company within 3 calendar months of the
death, retirement resignation, or dismissal of
defaulting Employee.
3.For losses not discovered during the
currency of the policy but with
understanding that the employer shall
have 3 months to report after
termination the policy.
Money
 Covers loss of money belonging to the
insured or for which the insured is
responsible in the circumstances and
situation occurring during any period of
insurance.
 Indemnifies the insured in respect of loss
or damage to any safe or strong room
belonging to the insured caused by
burglars or thieves.
 Money means cash, bank notes,
currency notes, cheques (except crossed
cheques) postal orders, money orders,
current postage and revenue stamps.
Uncovered Risks
 Any loss arising from the dishonesty of
any messenger or employee of the
insured.
 Shortage due to errors or omissions.
 Loss due to depreciation in value.
 Any loss as a consequence whether

direct of indirect of war, invasion,
act of foreign enemy, hostilities or
warlike operation (whether war be
declared or not) civil war, riots,
strikes, civil commotion, rebellion,
revolution, etc.
 Any loss occurring elsewhere than
in Ethiopia.
BURGLARY & HOUSE BREAKING
 Covers property belonging to insured
held by insured in trust or on
commission whilst contained within the
premises (excluding any garden or
building occupied by the insured) shall
be lost by theft. But only if accompanied
by actual forcible and violent breaking
into or out of building, or any attempt
thereat or if there shall arise any damage
to the property of the insured.
Uncovered Risks
 Does not cover where any of the
insured’s family or business staff or any
person lawfully on the premises is
concerned as principal or accessory.
 If the insured, without the written
consent of the company shall make or
permit to be made any material
alternation to the premises or change or
relax any of the safe guard for securing
the premises.
 During progress of or following upon Fire
or explosion of otherwise which can be
insured against by Fire Insurance Policy.
 Livestock, Money, Cheque, Travelers,
Cheque or security for Money,
Promissory Notes, Stamps etc…
OTHERS
Bond
Contract Bond Claim may arise
 By accepting the contract under
unfavorable condition, particularly at an
insufficient price.
 Acceptance of a contract the size or type of
which is out of the ordinary for the
contractor concerned.
 Acceptance of a project in an area where the
local condition unfamiliar to the contractor.
 Exposures of plant machinery, tools etc, to
a number of risk against which there is
inadequate insurance cover: Fire, Burglary
etc.
 Inadequate third party liability and
workmen's compensation cover.
 Difficulty through in efficiency or
otherwise in obtaining correct materials
and suitable labour.
 Sudden blocking of credits by supplier or
bank that can cause an uncontrollable
chain reaction among the contractors
other auditors.
 Overexpansion of operations in relation
to the contractor capacity.
 When the contractor finds himself
unable to complete the contract at all
there may be two options:-
 The surety either finance the
contractor
 Call for other contractors to send
estimates to complete the work
Uninsurable
Loss of damage due to:-
 War and warlike operation, civil commotion,
cessation of work.
 Nuclear reaction and radio-active
contamination.
 Willful act or willful negligence.
 Consequential loss of any kind of
description what so ever (penalties losses
due to delay) loss of contract.
 Faults of defects for which third party is
responsible either by law or contract.
 Gradual developing events.

Undwriting Training

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Undwriting Training

Uploaded by

Copyright:

Available Formats

THE UNITED INSURANCE COMPANY SC

 Air Cargo 30 days after unloading

from the air craft

 Claims against Marine Carried

carrier is two years.

Covers Interest against Theft and or

Duties of the Assured and their Agents

Claim immediately on the Carrier Port authorities

GROUP PERSONAL ACCIDENT

Covers bodily injury caused by violent

with venereal disease.

related illness in including AIDS.

 Any loss as a consequence whether

BURGLARY & HOUSE BREAKING

estimates to complete the work

You might also like