Motor Car
- is insurance against loss, damage and/or liablity incurred by the Insured resulting from accidents arising from the ownership and operation of his motor vehicle.

A Motor Vehicle is any vehicle propelled by any power other than muscular power, using the public highways, used mainly for the purpose of transporting people and cargo from one place to another. This excludes vehicles used for purposes other than transportation such as bulldozers, road-rollers, etc.

Classification of Motor Vehicles :
1. Private Car(PC)
      A private car is one of a
"private type" (sedan,coupe,
liftback, etc.) used for social, domestic and pleasure
purpose, as well as
business or professional
purpose (including the
carriage of goods) of
the insured. It includes the used by the insured's employees for such purposes.
This shall not include cars being hired out to other parties for a fee.

2. Commercial Vehicle(CV)
      A commercial vehicle is a
vehicle used mainly for
commercial (business)
purposes such as those
transporting goods or
products from one place
to another. These do
not include vehicles

used for transporting passengers for compensation.
(Example: cargo trucks, pick-ups, vans.)

3.Motorcycle(MCY)
      A motorcycle is a two-wheeled automobile vehicle having one or two saddles, except those transporting passengers for compensation



4. Land Transportation Operator's (LTO) Vehicle

      An LTO vehicle is a motor vehicle used to transport passengers for a fee or compensation.
(Example: public bus, taxi, tricycle, rent-a-car, school bus, tourist bus, etc..)
Coverage Available for Motor Insurance
      The coverages available can be classified into 2 categories: the compulsory and the voluntary coverages. The compulsary coverage is required by law. Vehicle owners can only have their units registered if they have secured this compulsory cover. The Compulsory Coverages are: CTPL(Compulsory Third Party Liability Insurance) required of all vehicles and CPLL(Compulsory Passenger Legal Liablity Insurance) required of LTO vehicles only.

Fire Insurance
– Kind of insurance which
insures primarily against
losses or damages
proximately caused by
the perils of Fire
and Lightning as well as
other allied perils
customarily included
by way of extension, subject to the payment of additional premium.

Physical Hazard – refers to the physical outlook or features of the subject matter of insurance which may either be buildings and contents.

Some Physical Hazard which should be considered in Fire Insurance are as Follows:
   • Construction
   • Occupancy
   • Location
   • Boundaries/Exposures
   • Susceptibility

In Fire Insurance, Ordinarily, the Following Maybe Insured:
   • Buildings
   • Contents:
        a) Stocks in trade
        b) Machinery’s and equipments including spare parts, accessories and tools.
        c) Business or household furniture’s, fixtures and fittings.
   • Business Interruption or Consequential Loss.

Perils Covered
   • Fire
   • Lightning
   • Domestic Gas Explosion, provided :
        a) Gas is used for illuminating or domestic purposes
        b) Explosion occurs in a building
        c) Gas is not generator or not forming part of any gas works.

Allied Perils - Perils which are excluded or not covered under the Standard Fire Insurance Policy but are normally and customarily insured or included upon request subject to payment of corresponding premium.

Types of Allied Perils
1. Earthquake (Earthquake Fire & Earthquake Shock)
      Cover against loss or damage due to fire in consequence of earthquake or
      against loss or damage caused by shock.
2. Typhoon
      Loss or damage caused by typhoon. Storm must be recorded and confirmed
      by the weather bureau or PAGASA.
3. Flood
      Entry of water in the insured premises due to flooding of land not usually
      covered by water by reason of:
         a) Extra ordinary high tide
         b) Flooding following typhoon, cyclone and/or windstorm.
      Exclusions
         a) Caused by overflowing, bursting or leakage of water tanks,
             pipes and other water apparatus.
         b) Caused by overflowing of gutters, bursting or overflowing of municipal
             or other public water supply mains.
         c) Caused by leakage from basements.
         d) Cased by high water unless by floods as defines.
4. Extended Cover
      Includes perils of explosion, falling aircraft or anything falling therefrom,
      vehicle impact and smoke.

Marine Cargo Insurance
- It is designed to insure Merchandise from the time it leaves the seller’s premises until it reaches the buyer. It encompasses all modes of conveyances, be it by land, sea or air.

Classification of Marine Insurance
1. By Subject Matter
      a. Cargo – ordering of goods from foreign country
      b. Hull & Machinery – insurance of ships
      c. Freight
      d. Liability
2. By Area
       a. Ocean Marine
       b. Inter-Island
       c. Inland Marine
          - by truck
          - by train
       d. Air

MARINE COVER NOTES
It provides a temporary coverage on the shipment. Cover notes are replaced by policy when the shipping details are available.

It is the evidence of the marine insurance contract.

Considered as a marine Insurance contract despite deficiency in material particulars. However, the insured is required to have a Marine Open Policy with the Company

1. Valued Policy – it states the value of the goods to be insured under the policy on a case to case basis. 2. Open Policy – is a contract effected for a period of time, usually twelve months. 3. Cost Insurance & Freight (CIF) – the seller provides the goods, insurance and transport as a package and arranges insurance for the whole transit on a “warehouse to warehouse” basis

Contractor's All Risk
The Contractor shall assume full responsibility for the Works from the time project construction commenced up to final acceptance by the Procuring Entity and shall be held responsible for any damage or destruction of the Works except those occasioned by force majeure. The Contractor shall be fully responsible for the safety, protection, security, and convenience of his personnel, third parties, and the public at large, as well as the Works, Equipment, installation, and the like to be affected by his construction work.

Section I – Material Damage
   • Material damage to work under construction
   • Damage and loss to contractor’s plant, machinery and equipment

Section II – Third Party Liability
   • Accidental loss or damage to third party property and/or bodily
    injury arising in connection with the contract work.

   The policy also provides coverage for the maintenance period.

Erection All Risk
The Erection All Risk policy is specially designed to cover loss or damage to projects that involves erection/installation of plant, machinery and equipment ranging from erection of a single machine to a large power plant.
This is an "All Risk" policy covering various activities of erection/installation, testing and commissioning of plant and equipments (except specific exclusions as mentioned in the policy). It protects a contractor or employer against physical loss or damage to the contract works, construction plant and equipment or machinary. It also includes cover for damage to property of third parties and bodily damage to third parties.
The policy can be taken out in the joint names of the contractor and the employer. This policy enables the Contractor or Employer to comply with the insurance requirements of the Contract.    

Section I – Material Damage
   • Material damage to erection work
   • Damage and loss to plant, machinery and equipment

   II – Third Party Liability
   • Accidental loss or damage to third party property and/or bodily injury arising in connection with the erection work.

Machinery Breakdown
This policy is important for Insured who operates fully automated production plants . This cover is important as a single machine failure at a crucial time may have serious financial and economic consequences.
This insurance provides cover for sudden and unforeseen physical loss or damage to the insured machinery whilst in operation from causes not specifically excluded. Machinery will only be insured after successful completion of it's performance acceptance test.

Machinery Breakdown Loss of Profit Insurance (MBLOP)
The policy covers loss of Gross Profit following an indemnifiable accident (the cover usually follows that of the machinery breakdown policy) and is measured on the reduction in turnover compared to the same period in the last twelve months and applying the Rate of Gross Profit. Cover also extends to include Additional Expenditure reasonably incurred to minimise the loss of Gross Profit.

Boilers & Pressure Vessels
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.
The Policy covers the Insured against:

Section I :
Damage (other than by fire) to the boiler or pressure vessel and to other property of the Insured.

Section II :
Liability of the Insured at law for damage to property not belonging to the Insured.

Section III :
Liability of the Insured at law on account of fatal or nonfatal injuries to a person other than the Insured’s own employees or workmen or members of the Insured’s family caused by and solely due to explosion or collapse of any boiler or pressure vessel described in the Policy whilst in the course of ordinary working.

Personal Accident Insurance
- It is that particular type of insurance which provides monetary compensation in the manner and to the extent so agreed upon the occurrence or in the event of death or bodily injury arising from accidental, violent, external and visible means.

Student Personal Accident Insurance
- All
bonafide students of Public Parochial or Private Schools (Elementary, High School and College levels). Also includes students of vocational and technical schools.

Faculty member, employees and staff of the schools or university are also qualified. On a case to case arrangement and depending on the volume. Free Insurance coverage shall be extended to faculty members. The amount of insurance shall be the same as the students.

Travel Accident Insurance Plan
- The policy covers against loss resulting directly and independently of all other causes from bodily injury caused by accident 24-hours a day, anywhere in the world. Coverage includes while the insured is riding as a passenger on any public or private conveyance during his travel. With respect to flying, coverage is limited to loss occurring while the insured is riding solely as a fare paying passenger, not as an operator or crew member, in boarding or alighting from a certified aircraft provided by commercial airline on any regular, scheduled or non scheduled, special or chartered flight, and operated by properly certified pilot flying between duly established and maintained airports.

Comprehensive General Liability (CGL) Insurance
The basic policy offers the following protection.

Bodily Injury Liabilities (Coverage A)
This covers the insured against the legal liabilities he incurs for damage (including death) to other persons caused by accident and arising out of any of the hazards insured against.

Property Damage Liability (Coverge B)
This covers the insured against the legal liabilities he incurs for damage to other’s property including its loss of use caused by accident and arising out of any of the hazards insured against

Fidelity Guarantee Insurance
- Provides indemnity for direct financial losses as a result of fraudulent or dishonest acts of an insured employee whilst acting in his designated capacity during the period covered subject to the limits set forth in the policy.

Money, Securities, and Payroll (MSP) Insurance
Money, Securities, and Payroll insurance is that form of insurance that provides protection to business establishments’ against loss of their money, securities, and payroll whether these are in or out of the premises. It provides a practical and effective answer to some of the problems of business establishments (like banks, offices, department stores, etc.) such as:
      a) Robbers
      b) Messengers, collectors, and other carriers who get held up.
      c) Money and securities being razed by fire.
      d) Payroll trucks being hijacked and many more.