Business Insurance

This insurance protects small to medium enterprises with an extensive series of custom made products like Fire & Special Perils guarantee; Group Personal Accident ; Electronic Equipment or Goods in Transit.

• If you have purchased Electronic Equipment cover, we will indemnify you for loss or damage of electronic items, by payment in cash, replacement or repair. We will cover external data media which can be directly processed in EDP systems.
• Public Liability guarantee covers all costs and expenses of litigation recovered by any claimant against the policyholder, and incurred with the written consent of MAPFRE Middlesea, in respect of a claim against the insured to which the indemnity expressed in this policy applies.
• Contractors All Risks  covers the cost of clearance of debris following upon any event giving rise to a claim under this policy, provided a separate sum therefore has been entered in the schedule.
• The Contractors Plant All Risks  covers the insured items at work or at rest. It pays for the items being dismantled for the purpose of cleaning or overhauling, or in the course of the previously mentioned operations themselves, or in the course of subsequent re-erection, always after successful commissioning.
• Theft  pays for loss of, or damage to the property insured caused by theft or any attempted theft following upon, or followed by, violent entry or exit to or from the premises. It also indemnifies violent hold-ups and threats of violence to the insured or the employees. This includes the cost of damages to the premises.
• Goods in Transit  will pay, repair or indemnify the policyholder against loss of or damage to property in transit being loaded onto or unloaded from a specified vehicle. It also covers property temporarily housed in the course of transit by a specified vehicle during the period of insurance.
• Money  covers loss of money occurring during the period of insurance and the cost of repair or replacement of the safe or strong room (not otherwise insured) directly associated with any theft or attempted theft.
• Employer’s liability covers the policyholder against liability at law to pay compensation, and claimant’s costs and expenses, in respect of the bodily injury by accident or disease of an employee.

 MAPFRE Middlesea offers a wide range of tailor-made products to meet the insurance requirements of both small to medium enterprises. These include: Accidental Damage (Property & Business Interruption); Fidelity Guarantee; Directors & Officers Liability; Fire & Special Perils; Group Personal Accident; Electronic Equipment; Hoteliers Combined; Travel Open Cover; Machinery Breakdown; Public Liability; Contractors ‘All Risks’; Theft; Products Liability; Contractors Plant ‘All Risks’; Goods in Transit; Tool of Trade; Marine Cargo; Money; Employers Liability.

Fidelity Guarantee covers the loss of money belonging to the insured, or for which he is legally responsible, as the direct result of any act of fraud or dishonesty committed by any employees named or described in the schedule during the currency of the guarantee.

Fire and special perils covers loss of or damage to the property insured by fire or otherwise directly caused by explosion, but excluding loss of or damage to boilers, or economisers. Other vessels, machinery or apparatus in which pressure is used or their contents resulting from their explosion are also excluded.

Electronic equipment covers the electronical items, or any part thereof entered in the schedule, that suffer any unexpected physical loss or damage from any cause (other than those specifically excluded), needing repair or replacement.

With the Machinery Breakdown we will indemnify you in respect of loss or damage, by payment in cash, replacement or repair (at Mapfre Middlesea’s option) up to an amount not beyond in one year of insurance in respect of each of the items specified in the schedule, and not exceeding in all the total sum expressed in the schedule as insured.

Public liability covers all sums which the policyholder shall become legally liable to pay for compensation in respect of accidental bodily injury to or illness of any person, or accidental loss of or damage to material property, happening within a situation of risk (exposed in the schedule) in connection with the business.

Contractors all risks covers the items in the schedule if they suffer any sudden physical loss or damage from any cause.

This policy has certain requirements that shall be evaluated by the customer. It is very important to consider them in order to decide which insurance policy satisfies better the policyholder needs.

• The policyholder must observe and fulfil the terms and conditions of this policy, in so far as they relate to anything to be done or complied with by the insured, as a condition precedent to any liability of MAPFRE Middlesea to make any payment.
• The insured must, at his own expense, take all reasonable precautions and observe all reasonable recommendations of Mapfre Middlesea to prevent loss or damage and comply with statutory requirements and manufacturers’ recommendations.
• Every notice and other communication to us required by the policy conditions must be written or printed.
  

Requirements & Restrictions

• We will not cover costs, expenses or fees for preparing any claim you execute under this policy.
• We will not pay for loss or damage occurring or coming from an incident which happens before this policy begins.
• Claims resulting from deception by you are not covered. We do not cover either claims arising from the owner’s pre-meditated or malicious acts.
• Where fraud (including exaggeration) is detected, claims will not be covered and we may refer it to the police for criminal prosecution.
• Loss or damage to the property insured or any loss or expense resulting or arising therefrom, or caused by ionising radiations, or contamination by radioactivity from any nuclear fuel, or from any nuclear waste from the combustion of nuclear fuel are excluded. Damages caused by radioactive toxic explosive or other hazardous properties of any explosive nuclear assembly or nuclear component are also excluded.
• Loss or damage directly or indirectly occasioned by, happening through, or in consequence of war, invasion, act of foreign enemy, hostilities (whether war be declare or not), civil war, rebellion, revolution, insurrection or military or usurped power are excluded.
• We do not cover loss or damage directly occasioned by pressure waves caused by aircraft or other aerial devices travelling at sonic or supersonic speeds.
• If at the time of any loss resulting in a claim under this policy there is any other insurance or security covering the same loss, we will not be liable to pay or contribute more than a rateable proportion of such loss.
• We do not cover any loss caused by, resulting from, arising out of or related to Pandemic, Epidemic or Coronavirus Diseases.

We recommend to the policyholder, in order to receive benefits of all the guarantees of the policy, to consider some relevant aspects before and after contracting the policy:

• The schedule and its sections shall be considered to be incorporated in and form part of the policy.
• In case of theft, any loss or damage or accident which is likely to give rise to a claim must be communicated to the police. You have to provide all reasonable assistance in causing the discovery and punishment of any guilty person.
• The policyholder may cancel this policy at any time during its term. Any refund of premium will be worked out from the date we receive the cancellation instructions. Provided no claim or loss has arisen in the present period of insurance, we will return part of the premium calculated on the company’s cancellation rates for the unexpired period of insurance less any long-term discount on premiums fixed.
• If any difference arises related to the amount to be paid under this policy (liability being then admitted) such difference must be referred to an arbitrator to be appointed by the parties, in accordance with the statutory provisions in that behalf for the time being in force. The making of an award is a condition precedent to any right of action against us.
• We may at any time use all legal means in the name of the policyholder for the recovery of any of the money lost and which forms the subject of a claim under the guarantees. The insured must give us all reasonable assistance for that purpose. We shall be entitled to any of the money for the loss of which a claim is paid hereunder, and the policyholder shall execute all such assignments and assurances in respect of such money as may be reasonably required.
• MAPFRE Middlesea shall not be forced to offer or admit any renewal of the policy and may at any time give written notice of cancellation of cover to the insured at his last known address.
• This policy shall be void in the event of misrepresentation, misdescription or non-disclosure in any particular. In all cases where this policy is void all premiums paid to us will be forfeited.