Neucash Business Insurance - customisable to suit any business. This product is underwritten by and in collaboration with our Insurance Partners.

General Details

Whether you are a large commercial business or a small-and-medium enterprise, we provide a wide range of insurance solutions customised to the different needs of your business and industry.

The basic fire policy provides you with coverage for loss and/or damage of insured property caused by fire, lightning and domestic explosion. Public Liability Insurance is also important as it protects you against the legal liability to third party as a result of an accident occurring during the period of cover in connection with your business operations within the territorial limit.

The Neucash Business Insurance Plan also indemnifies you against loss of money whilst kept within the premises and during transit.

Additionally included is extra coverage against sudden and unforeseen physical damage to your machineries from common perils such as carelessness and short circuits. What is more important is that financial loss suffered from consequence of machinery breakdown is also covered.

What differentiates us from others is the added coverage for the directors of the company as a Personal Accident Insurance coverage for 2 directors is also included. This added blanket ensures that your business activities will continue no matter what calamity arises.

Fire

The Fire Insurance is designed to cover for loss and/or damage of insured property caused by fire, lightning and domestic explosion.

Product Disclosure:

The insured property including

  • Buildings
  • Stocks (raw materials, finished and unfinished goods, packaging materials & etc)
  • Contents (plants & machinery, furniture, fittings and fixtures, office equipment and tools, plans and documents & etc)

In addition, you may extend the basic fire coverage to cover loss or damage caused by the following perils with additional premium as stipulated in the Revised Fire Tariff.

  • Bursting & overflowing of water tanks apparatus or pipes Riot Strike and Malicious Damage
    Impact Damage / Damage by Falling Trees or Branches Earthquake and
    Storm, Tempest / Flood
    Explosion
    Subsidence and Landslip
    Sprinkler Leakage

General Exclusions

As per all insurance related products, there are certain exclusions which are not covered. Below are the exclusions listed and is NOT covered by the programme.

  • Loss by theft during or after the occurrence of a fire
  • Loss or damage occasioned by its own fermentation, natural heating or spontaneous combustion
  • Loss or damage directly or indirectly caused by or arising from or in consequence of or controlled by nuclear weapons
  • Typhoon, hurricane, tornado, cyclone or other atmospheric disturbance
  • War, Civil War, Riot and any act of Terrorism
Public Liability

The Public Liability Insurance protects you against the legal liability to third party as a result of an accident occurring during the period of cover in connection with your business operations within the territorial limit.

Covers / Benefits:

This policy indemnifies you all sums which you shall become legally liable to pay compensation in respect of:

  • accidental bodily injury (including death or disease) to any person
  • accidental loss of or damage to property
  • legal costs recoverable by any claimant from the Insured
  • costs and expenses incurred with the written consent of the Company

General Exclusions

As per all insurance related products, there are certain exclusions which are not covered. Below are the exclusions listed and is NOT covered by the programme.

  • Fines, penalties, punitive and exemplary damages Asbestos
  • Latex Allergy
  • Transmissible Spongiform Encephalopathy
  • Damages and consequent loss arising out of failure to supply oil, gas, electricity or water
  • Damage to the property worked upon by the Insured
  • This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy.
Money

This policy indemnifies you against loss of money whilst kept within the premises and during transit.

It also covers loss of money in the form of cash, bank notes, currency notes, cheques, postal orders or money orders while is being kept in the premises or whilst in transit from causes not excluded in the policy, example : fire and burglary

This policy does not cover:

  • Loss arising from fraud or dishonesty of your employees or any accounting errors
  • Loss from unattended vehicle
  • Accident, loss, destruction or damage caused by or contributed from nuclear weapons material
  • Note: This list is non-exhaustive. Please refer to the sample policy contract for the full list of exclusions under this policy
Machinery

This policy provides cover against sudden and unforeseen physical damage to your machineries from causes not specifically excluded in the policy and covers for the loss of profits sustained as a result of a business interruption caused by material damage indemnifiable under the Machinery Breakdown Insurance.

The common perils covered are:-

  • Defects in casting and material
  • Faulty design
  • Fault at workshop or in erection
  • Bad workmanship
  • Lack of skill
  • Carelessness
  • Shortage of water in boilers
  • Physical explosion
  • Tearing apart on account of centrifugal force
  • Short circuit
  • Storm

This policy does not cover:

  • Loss of or damage to Exchangeable tools or items of high war and tear and operating media related risks
  • Loss or damage due to fire, direct lightning, chemical explosion, fire extinguishing, aircraft of other aerial devices, theft, burglary, collapse of buildings, flood, inundation, earthquake, subsidence, landslide, avalanche, hurricane, cyclone, volcanic eruption and similar natural catastrophes
  • Loss or damage for which a supplier, contractor or repairer is responsible
  • Loss or damage caused by any faults or existing damage
  • Willful act or gross negligence
  • War and related risks
  • Radiation and nuclear energy risks
  • Consequence of continual influence of operation
  • Consequential loss or liability of any kind
  • Loss of or damage to machinery or mechanical installations which are not listed in the list of plant & machinery insured
  • Loss or damage caused by any faults or existing damage