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Special Risks

Special Risks

We strive at providing the right protection according to your needs. Depending on your own specificities and circumstances, you may require the protection available under special risks policies. A non-exhaustive list is as follows:

Banker’s Indemnity

The Banker’s Indemnity policy is intended for banks and other financial institutions involved in the storage, handling and management of money. The policy is a comprehensive cover providing indemnity for financial loss due to the following risks:

  • Dishonest or fraudulent acts by employees
  • Loss or damage to property while the property is on the Insured’s premises or in transit
  • Forgery or alteration
  • Counterfeit currency
  • Threats to property and persons
  • Loss following action on securities

Bonds
A bond is a written guarantee by the surety, the Insurer, that he will guarantee the performance of the obligations of the applicant. Bonds are often required in conjunction with tendering for a contract, the performance of duties as required from land surveyors, notaries, attorney-at-laws.

Crime Insurance
Crime Insurance offers protection against losses following employee dishonesty including theft, forgery, fraud, embezzlement, computer fraud, counterfeiting and other such criminal acts.

Directors and Officers Liability
Directors and officers of a company are bound by their duty in their corporate positions. The Directors and Officers Liability insurance provides financial protection for the directors and officers in case they are sued following any breach or non-performance of their duty.

Additional cover is available in respect of wrongful employment practices such as wrongful dismissal, harassment and failure to promote.

Outside directorship of an employee in another company can also be covered. The Companies Act 2001 provides that the Directors and Officers Liability insurance can be effected subject to its constitution and to Board approval.

Kidnap and Ransom
A Kidnap &Ransom policy reimburses insured losses suffered during a Kidnap, Extortion, Products Extortion, Detention or Hijack.

Products Liability
This policy covers legal liability to third parties arising out of injury or damage caused by a product sold, manufactured, repaired, supplied, altered, treated or installed by the Insured in the course of its business. 

Professional Indemnity
If in the course of your business you have to provide professional advice, designs or services to clients, you may have to pay damages if your client suffers financial loss as a result of your negligence, errors or omission. The Professional Indemnity insurance will indemnify you if you have to pay such damages. 

Terrorism and Sabotage
Terrorism and Sabotage are usually standard exclusions under Property insurances.  Cover is available in respect of these perils under the specialized Terrorism and Sabotage insurance.

Other insurances

  • Livestock
  • Event Cancellation
  • Extended Warranty

Other insurances can be tailor-made according to your specific risk exposure. 

For more details
Call us on 203 8400 or email us at sicomgin@sicom.intnet.mu and we shall guide you through the application process