Business Insurance Cover in Kenya  is an insurance policy which protects your business from losses due to events that may occur during the normal operations of your business.
Below are the common types of Business Insurance covers in Kenya
 

1. Fire & Perils Insurance

 
Fire & Perils Insurance cover protects you against the damage to the business property insured caused by the following;

• Fire
• Lightening
• Earthquake

Special Perils Covered

• Explosion
• Riot & strike
• Burst sewer and pipes
• Aircraft or another Aerial Device or any article dropped there from is also covered
• Storm
• Subsidence
• Flood
• Impact

 Benefits Covered by business insurance cover in Kenya

• Buildings
• Furniture and office Equipment and machinery
• Stock in trade

What is Required

• Your occupation,
• Values of your property,
• Type of construction of the building
• Location of your property

2. Burglary Insurance

Burglary Insurance cover protects you against loss or damage to the property insured caused by:

• Theft following actual forcible and violent entry into or from premises.
• Damage to premises as a result of such entry or exit
• Hold up or attempt thereat

Benefits covered

• Furniture and office Equipment and machinery
• Stock in trade

Requirements

• Your occupation,
• Values of the property,
• Type of construction of the building/location
• Security measures in place

3. Fidelity guarantee insurance

Fidelity guarantee insurance protects you against the loss of money, stocks or property arising from an act of fraud by your employees while on duty.
Fidelity guarantee insurance protects you against the loss of money, stocks or property belonging to you as a result of:
Act of fraud or dishonesty committed by an employee covered in the policy during the indemnity period.

4. Employers Liability Insurance

The employers Liability insurance covers the employees of the insured for bodily injury by an accident or disease arising out of and in the course of his employment directly related to negligence or breach of common law or a statutory duty by the employer.
 
Benefits
The policy indemnifies the insured   against legal liability under common law in respect of the following

• damages and claimants’ costs
• expenses of litigation
• all costs incurred with the consent of the insurer

5. Public Liability Insurance

Public liability insurance policy protects the insured against sums he may become legally liable to pay for damages to third parties. in respect of the following;

• Accidental Death to a third-party person
• Accidental Bodily   Injury to third party person
• Illness to a third party
• Loss or damage to property belonging to a third party
• Legal costs and expenses incurred to defend such matters or awarded against the insured.

6. Group Personal Accident Insurance

Group personal accident insurance policy covers the persons stated in the policy schedule in respect of   Death, permanent disability and temporary disability caused by violent, accidental, eternal and visible means   while on duty or off duty (24-hour basis).
Benefits covered

• Death 5 years salary
• Permanent Disability 5 years’ salary
• Temporary disability – actual weekly salary for 104 weeks

7. Work Injury Benefit Act (WIBA)

This policy covers the employees of the insured for Accidental bodily injury or disease arising out of and in the course of their employment.
The benefits as stipulated by the WIBA Act 2007 are as below: –

• Death- 8 Years Earnings
• PTD – 8 Years Earnings
• TTD – Actual weekly Earning up to 104 weeks
• Medical 100,000/-
• Last Expenses 30,000/

8. Machinery breakdown insurance

Machinery breakdown insurance provide cover against unforeseen and sudden physical loss or damage to the machinery by any cause subject to excepted risks.
Machines are an integral part of all manufacturing and industrial units engaged in production of industrial/household goods.
These may be large industrial establishments or small and medium enterprises and any unexpected accident/breakdown to their critical machinery brings it to a standstill adversely affecting business and causing a financial strain towards repair or replacement of the affected machinery.
The Machinery Breakdown Insurance offers coverage to your organization against these sudden unforeseen accidents/events
 

9. Machinery Breakdown Loss of Profit Insurance

The Machinery Breakdown Loss of Profit Insurance protects the loss of gross profit and/or increased cost of working due to a continuing interruption to business caused by a breakdown covered by the Machinery Breakdown insurance.
The interruption usually comes in the form of time spent in arranging repairs, awaiting delivery of repaired or replacement parts (sometimes from overseas), starting up the plant and re-activating the business.
It is a requirement that the insured have a Machinery breakdown policy in force. In addition, for a loss of profits claim to be admissible, the material damage claim must also have been valid.
 
Eventually if you do have any further questions or you would like assistance in assessing your business insurance cover in Kenya needs, please be sure to contact us for help on insure@gakenya.com
Disclaimer;
The opinions expressed in this publication are those of the author. The full information of the cover is contained in the policy document. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of GA Insurance concerning the legal status of any country, area or territory or of its authorities, or concerning the delimitation of its frontiers.