A bid bond is a legal instrument enforceable by law that is used by project owners at tender stage. Bid Bonds are undertaken by contractors to provide assurance to the project owner that they are qualified and committed to execute the bid. If the contractor wins the bond but decides not to execute the bid, the project owner may make a claim against the full or partial amount of the bid bond.
A performance bond guarantees the project owner against possible losses if a contractor fails to perform or deliver the project contractor according to the terms and conditions stipulated in the contract.
We source, secure and facilitate bid and performance bonds from reputable insurance companies on behalf of our clients.
Month: January 2022
Animal & Crop Insurance
This insurance also known as agriculture insurance compensates farmers from the loss suffered from theft and accidental death of livestock (dairy / beef cattle, poultry, sheep, pigs) by natural calamities, illness or disease, epidemics, emergency slaughter on advice of qualified vet surgeon and calving, farrowing and kidding complications.
Crop Insurance
Covers from the loss of damage to crops such as wheat, maize, barley, rice, tea, coffee, sugarcane, tobacco, trees, flowers and other horticultural crops from perils like hail storms, fires, drought, flooding and lightening
Professional Indemnity
This policy protects professionals such as lawyers, engineers, valuers, auditors and medical practitioners from legal liabilities arising from acts of negligence, malpractice, errors or omissions made in performance of their duties. The policy covers legal expenses, damages from libel and slander, loss and damages from loss of documents.
Contractor All Risks
This policy is for contractors requiring coverage for property damage and third-party injury or damage claims which are the major types of risks on construction projects. In detail, the cover offers protection for destruction or damage to contract works, plant and machinery on site and materials on site. The policy also covers the contractor’s liability to members of the public (third parties), for death, injuries or damage to their property arising out of the contractor’s negligence.
Group Personal Accident
This is a corporate or institutional policy which provides compensation to employees in the event of death, permanent disability, temporary loss of income due to disability from an accident. It also covers medical and funeral expenses as well.
Personal Accident
This policy provides compensation in the event of death, permanent disability, temporary loss of income due to disability from an accident. It also covers medical and funeral expenses as well.
Golf Insurance
This insurance policy covers against accidental loss or damage of golfing equipment, personal effects, public liabilities as a result of injuries or damage to property by accident and also covers expenses associated with the good luck of a hole-in-one event. The policy is also extended to with a personal accident cover to provide protection for personal injury by accident.
Credit Insurance
This policy pays off an outstanding debt in the event of the policy holder’s death, disability, or termination of employment. In the event of death, beneficiaries or dependants are protected from taking up the debt’s liabilities that they were not privy to.
Money Insurance
Covers the loss or cash during business hours, in specified safes and strong rooms, whilst in transit or in the custody of authorised employees and can also cover the damage to safes and strong rooms in theft or attempted theft.
Fire & Special Perils
This policy safeguards against unforeseen contingency caused by accidental fire, lightning, explosion/implosion.
The policy can be further extended to offer protection against: destruction or damage caused by aerial devices, man made perils in the form of riots, strike and natural calamities like storm, cyclone, flood etc.