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Archive for April, 2011

RHB Contractor All Risk & Workmen’s Compensation

Category: Group & Commercial Insurance,Insurance

RHB CAR & WC

Contractor’s All Risk Insurance

Contractor’s All Risk Insurance provides comprehensive coverage to all works to be executed in accordance with the contractor’s contract, temporary works, material, construction plant and equipment brought into the site and liabilities arising out of the performance of the contract. The policy covers against accidental and unforeseen physical loss or damage to the property insured occurring during the period of insurance.

Under the material damage section of the policy, any sudden and unforeseen physical loss or damage caused by fire, lightning, explosion, flood, inundation, windstorm of any kind, earthquake, theft, burglary, bad workmanship, negligence, lack of skill, lack of experience, malicious acts or human error, or any other sudden and unforeseen event such as loss or damage due to collapse, foreign objects and on-site transport of items to be constructed are covered.

The liability section of the policy provides indemnity in respect of third party liability which the insured shall become legally liable to pay as damages consequent upon :

Accidental bodily injury to or illness of third parties; or
Accidental loss of or damage to property belonging to third parties
Occurring in direct connection with the construction of the contract works and happening at or in the immediate vicinity of the construction site.

Workmen’s Compensation Insurance

Specially designed to meet requirements of compensation as spelt out in the Workmen’s Compensation Act 1952. All employers are legally obligated to insure workmen against accidents at work or occupational illness.

Foreign Workers Compensation Scheme

Foreign Workers Compensation Scheme (FWCS) was created to protect the interest and welfare of all foreign workers in Malaysia. This scheme provides for the payment of compensation benefits to a foreign worker, who possesses valid employment documents, for death or injuries sustained due to accident arising out of or in the course of employment.

RHB Insurance Berhad is one of the panel insurance companies appointed and approved by the Ministry of Human Resources to underwrite the FWCS. Under Section 26 of the Workmen’s Compensation (Amendment) Act 1996, it is mandatory for employers to insure all the foreign workers employed by them under the FWCS.

Machinery Breakdown Insurance

Machinery Breakdown Insurance is arranged to provide coverage for all plant, machinery and mechanical equipment whether at work, at rest or during maintenance operations against sudden and unforeseen electrical and mechanical breakdown and accidental damage from extraneous causes.

Such damages may be caused by faulty design, construction or erection, defects in casting and material, bad workmanship, faulty operation, lack of skill, malicious acts, negligence, physical explosion, short circuit and other causes not specifically excluded under the policy.

Erection All Risk Insurance

Erection All Risk Insurance offers comprehensive protection against all the risks involved in the erection of plant and machinery as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of an erection project. Coverage may also be extended beyond the erection period to include all testing and commissioning works.

The material damage section provides cover against any sudden and unforeseen physical loss or damage occurring to the property insured on the erection site during the period of insurance will be indemnified.

This liability section of the policy provides indemnity in respect of third party liabilities which the insured shall become legally liable to pay as damages consequent upon :

Boilers & Pressure Vessels Insurance

Boilers & Pressure Vessels Insurance is designed to cover loss or damage as a result of explosion or collapse of boilers and other pressure vessels caused by the force of internal steam or fluid pressure.

Apart from damage to the boilers and pressure vessels, the policy also covers for damage to surrounding property and legal liability of the Insured for any death, bodily injury or damage to third party properties.

Electronic Equipment Insurance

Electronic Equipment Insurance is specially designed to cover all electronic equipment such as computers, including external data media, against loss or damage due to sudden and unforeseen causes provided such causes are not specifically excluded in the policy.

The policy also covers mechanical and electrical breakdown of the equipment caused by mechanical or electrical deficiencies, faulty material, faulty design, implosion, short-circuiting, over voltage, lightning-included traveling waves, magnetic fields or electrostatic inductions. The policies comprises 3 sections as follows :

Section 1 (Material Damage)
Covers all hardware installation including peripheral equipment and accessories against any unforeseen and sudden physical loss or damage from any causes other than those specifically excluded

Section 2 (External Data Media)
Covers the Data Media such as disks, tapes external to the computer system. Coverage is the same as Section 1 and it applies while the Insured data media are kept on the premises

Section 3 (Increased Cost of Working)
Provides indemnity for increased cost of working following a material loss or damage. If the material damage indemnifiable under Section 1 gives rise to a total or partial interruption of operation of the insured Information Technologies (IT) equipment, the cost of hiring another computer to maintain the insured’s business operations is payable under this Section. This substitute IT system must not be a subject matter of insurance under the policy. The policy pays the agreed indemnification per day and not exceeding the sum insured in any one period of the insurance.

RHB Car Insurance | Private & Commercial Car Insurance

Category: Group & Commercial Insurance

Private Car Insurance

Private Car Insurance provides coverage for loss of money from any cause not specifically excluded by the policy. The policy covers money during transit, whilst on the insured’s premises and whilst in the personal custody of any authorized employee.

Loss or damage to locked safe or strongroom resulting from theft or any attempt thereat and Personal Accident cover to carrier may also be covered under this policy.

The types of coverage available for Motor Insurance are :

Comprehensive Cover

Loss or damage to the insured vehicle and its accessories and spare parts
Legal Liability for death or bodily injury to any third party person
Legal liability for loss or damage to third party property
The following benefits are available for extension of the Comprehensive Cover at an additional premium :
Windscreen
Strike, Riot & Civil Commotion (SRCC)
Flood, typhoon or other convulsion of nature
Legal Liability of Passengers (LLP)
Legal Liability to non-fare paying passengers (LLNP)
Additional Driver

Third Party, Fire & Theft Cover
Legal Liability for death or bodily injury to any third party
Legal liability for loss or damage to third party property
Loss or damage to the insured vehicle as a result of fire and theft

Third Party Cover
Legal Liability for death or bodily injury to any third party
Legal liability for loss or damage to third party property

Commercial Vehicle Insurance

Commercial Vehicle Insurance provides coverage for loss of money from any cause not specifically excluded by the policy. The policy covers money during transit, whilst on the insured’s premises and whilst in the personal custody of any authorized employee.