SME insurance package

Uncertainties can arise unexpectedly, posing a potential threat to businesses. The vulnerability exposed by these risks can have severe consequences.

Many small and medium-sized enterprises (SMEs) invest significant effort and dedication in building their businesses, yet they remain susceptible to unforeseen events such as fires and burglaries, which have the potential to rapidly bring down all their hard work. Our comprehensive coverage provides SMEs with protection against a combination of perils and risks, offering a safeguard against potential setbacks.

Comprehensive insurance for SME business covers:

SME business insurance is designed to be unique to your business needs. It’s a combination of different insurance covers that provides coverage with respect to people, assets and liabilities.

SME insurance package with respect to assets:
  1. All Risks – This comprehensive coverage extends to all risks, excluding only those expressly stated as exclusions. The coverage may be limited to Kenya or extend worldwide.
  2. Fire & Perils – this covers potential risks like fire, floods, or lightning that could lead to damage or loss of business premises.
  3. Machinery Breakdown – Coverage for accidental damage to fully installed machinery resulting from sudden and unforeseen causes.
  4. Money – Insurance against the loss of money in transit to and from the bank, on-premises, or when in the possession of authorized officials.
  5. Burglary – covers loss of property through theft.
  6. Computer and Electronic Equipment – Protection against damage to electronic equipment caused by fire, theft, electrical issues, or unforeseen damage, including property damage, data reinstatement, and increased cost of working.
  7. Fidelity Guarantee (FG) – Protection against theft by an employee involving money and stock.
  8. Goods in Transit (GIT) – Safeguarding against theft, loss, or damage to goods while in transit over land, sea, or air.
  9.  Marine Coverage – covers the loss or damage of cargo, ships, terminals and any other mode by which goods are transported in water.
SME insurance package with respect to people:
  1. Employee Medical Coverage: handles the medical costs incurred by the insured, covering both outpatient and inpatient options. It can also provide a blend of both outpatient and inpatient coverage.
  2. The Work Injury Benefits Act (WIBA): manages the employer’s financial responsibility outlined in the WIBA act, ensuring compensation for workers injured during duty.
  3. Group Life Assurance: disburses multiples of the employee’s salary in the event of death by any cause (excluding specified exclusions), offering financial support to the employee’s beneficiaries.
SME insurance package with respect to liabilities:
  1. Employers’ LiabilityThis coverage shields you from legal action by an employee resulting from employer negligence.
  2. Public LiabilityThis insurance policy provides protection against claims stemming from:
    • Accidental bodily injury (including death) to any person.
    • Accidental loss of or damage to property that occurs in connection with the insured’s business. Proof of negligence on the part of the insured must be established.

A comprehensive SME insurance policy is paramount for the resilience and sustainable growth of small and medium-sized enterprises. These tailored insurance solutions not only mitigate the financial risks associated with various perils but also provide a safety net for unforeseen events that could disrupt business operations.

Whether safeguarding physical assets, ensuring the well-being of employees, or protecting against financial liabilities, SME insurance policy offers a vital layer of protection. By investing in a well-structured and adaptable SME insurance package, SMEs can navigate uncertainties with confidence, allowing them to focus on innovation, expansion, and long-term success. Contact us today! Let us keep your business secured as you do what you do best.