Marine Cargo Insurance Malaysia Arranged By ACPG Management Sdn Bhd

Marine and Cargo Insurance FB Wall

Marine Cargo Insurance Malaysia Arranged By ACPG Management Sdn Bhd

Marine Insurance can be classified into two main types, Marine Hull Insurance and Marine Cargo Insurance.

Marine Hull Insurance is for the loss or damage of ships, vessels, yachts, boats and ferries.

Marine Cargo Insurance is for the loss or damage of cargo carried by any mode of transportation while being held, transferred, loading and unloading between the points of origin or departure and the final destination or point of arrival or discharge.

The word marine though may suggest the mode of transportation by sea, however, in marine cargo insurance, the cargo other than being transported via sea, can be transported by land by lorries, trucks or train.  Cargo can also be transported by air especially when the goods in the containers are perishable items that need to be shipped to the destination immediately by the exporter to the importer for delivery to the buyer or consumers. Air cargo is also covered under Marine Cargo Insurance.

Marine Hull Insurance is not limited to insuring the ship body and its motorised engine.  It can also covers other floating structures like oil-rig platforms and barges.

Scope of Marine Hull Insurance coverage is wide and comprehensive as it can cover the loss or damage to the ship due to collision with another ship, or collision with a fixed object like a shipwrecked or harbour at terminals or sandbars or reefs.  If there are bodily injuries to the third party on board the other ship  or damage to the fixed objects like harbour or terminal, the marine insurance will have to pay for the claims by third party besides the cost of repair to the ship and its engine.

Marine Hull insurance usually covers up to three quarter of the insured’s liability to third parties.  This development has encouraged the shipowners to band together in mutual underwriting clubs known as Protection and Indemnity Clubs (P&I), to insure the remaining one-quarter liability amongst themselves.

Most of the P & I Clubs work on the basis of agreeing to accept a shipowner as a member and levying an initial “call” (premium). With the fund accumulated, reinsurance will be purchased; however, if the loss experience is unfavourable one or more “supplementary calls” may be made and all the club members have to contribute to the fund.  These P & I clubs will also try to build up their reserves in good time when there are fewer claims so that they will have more funds on standby.

An actual total loss occurs where the damages or cost of repair clearly equal or exceed the value of the ship or  property . A constructive total loss is a situation where the cost of repairs of the ship plus the cost of salvage equal or exceed the value of the ship insured

Insurance of pleasure craft  in nature like yacht is generally known as “yacht insurance” and includes liability coverage. Smaller vessels such as yachts and fishing vessels are typically underwritten on a “binding authority” or “lineslip” basis.

With the growing number of individuals who have grown financially rich and wealthy in Malaysia and the rests of the world, it has become a trending  lifestyle for many to own private yachts and moor it at marinas like the ones at Georgetown, Penang Marina and Pulau Langkawi Marina clubs and Puteri Harbour and  Danga Bay, Johor in Malaysia.

Like most classes of insurance, war risks is not covered by Marine Insurance. General hull insurance does not cover the risks of a vessel sailing into a war zone. A typical example is the risk to a tanker sailing in the Persian Gulf during the Gulf War involving Iraq and Kuwait, its allies in Arab Gulf countries and its major Western Allies like UK, France and NATO countries and USA.

The war risks areas are established by the London-based Joint War Committee, which has recently moved to include the Malacca Straits as a war risks area due to piracy. There have been several oil tanker ships and container ships being hijacked by pirates and terrorists near Sudan and Somalia which have given rise to many insurance losses and the governments of most of the affected shipping lines have made arrangement to send their naval forces to escort and patrol the seas in that area to curb piracy. If an attack is classified as a “riot” then it would be covered by war-risk insurers.

Marine Hull insurance policy can also include Increased Value(IV) cover to protect the shipowner against any difference between the insured value of the vessel and the market value of the vessel.

Some of the special covers are not readily available to the shipowners are the insurance company’s underwriter will look into other factors in accepting the risks proposed.

Marine Cargo insurance is underwritten on the Institute Cargo Clauses, with coverage on an AB, or C basis, A having the widest cover and C the most restricted. Valuable cargo is known as specie. Institute Clauses also exist for the insurance of specific types of cargo, such as frozen food, frozen meat, and particular commodities such as bulk oil, coal, and jute.  Sometime a cargo may be a herd of animal livestock like cows and sheep.

Marine Cargo Insurance has also engaged many parties like shipping agents, Shipping Lines, Integrated Land Transporters and Aviation Cargo Industry and specialized professionals like quality and quantity packing inspection agencies and marine loss adjusters who will determine the value or sum insured, salvage and sacrifice and adequacy of sum insured and average calculation.

Marine Cargo policies can be issued on annual open cover basis or on per consignment or shipment basis.

If you need a Marine Hull Insurance or Marine Cargo Insurance from general Marine insurance agent in Malaysia, please contact us. If you are from outside of Malaysia, please contact us ACPG Careline +603-92863323 or via email enquiry@acpgconsultant.com.

Marine Cargo Insurance FB A4

ACPG Management Sdn Bhd

Your Experience Insurance Risk Management and Solution Service Provider since year 1989 and Head Office Located at Kuala Lumpur Malaysia .

For more details of Malaysia Insurance package and risk management services www.acpgconsultant.com and contact our ACPG careline +603-92863323.

Click Here For Insurance Quote Enquiry Form Submission

 

ACPG Management Sdn Bhd

What We Can Do…..

One of the reasons we at ACPG Management Sdn Bhd, are one of the top Property and Casualty Insurance Agency in the Kuala Lumpur Malaysia market, is due to the quality and variety of insurance solution and consultancy services we provide. Be it automotive insurance, fire insurance, all others type classes of life and general insurance, consequential loss insurance, insurance of precious possessions or what have you, you can rest assured that we provide nothing less than what are stated below, which makes us an insurance agency that is truly “Almost with No Comparison”, and we do not make such claims lightly.

With 27 years since year 1989 in the insurance Malaysia market we can

Give our Expert Opinion On Your Risks.

How To Handle The Risks.

Provide The Best Insurance Solutions.

Provide Competitive Premium.

Handle Insurance Claims With Comprehensive Homework.

Work Closely with Insurance Adjusters, Insurer Claim Officers and Policy Holders.

Assisted Claims

By its very nature, a claim is made at a difficult and stressful time. You may need to make a claim because you have been burgled, there has been a fire or flood or worse and your business may be forced to stop operating. In such a situation, you need a settlement and fast.

Most insurance companies are well aware of this and if you are making a claim directly to an insurance company or through an unqualified agent and without any professional help, you may find the small print in your policy is not what you expected or the settlement amount is not enough.

When you have to make a claim, the insurance company will send out a loss adjustor to assess the damage. It is important to understand that the loss adjustor works for the Insurance company and not you so they will put the interests of the insurance company first.

If you are one of our clients, we will represent your interests when the loss adjustor visits the scene and in any discussions or negotiations to ensure you get the best possible settlement.

If you would like to meet for an informal consultation about your insurance needs and how we can place your coverage at exceptional rates, please do not hesitate to contact us.

Risk Management

Risk is when there’s an uncertainty about whether an event will or will not occur. Thus, risk management is the process of identifying exposures to risk, choosing the best method for handling each exposure and implementing it.

Insurance refers to a contract that reduces risk of loss and requires one party to pay a specified sum to another if a previously identified event occurs. Thus, insurance planning is the process of handling and safeguarding against future risk of loss and ensuring sufficient compensation is provided.

Risk Management Technique

When it comes to risk management, there are 4 basic methods :

Risk Avoidance

To avoid engaging in an activity or owning property that might lead to an exposure of risk.

Risk Assumption

To recognize risk and accept it as part of its activities.

Risk Transfer

To transfer risk to another party.

Risk Reduction

To take steps to reduce the uncertainty of loss.

Strata Title Insurance Kuala Lumpur Malaysia

Malaysia Strata Title Building Insurance, Malaysia Strata Title Fire Insurance, Malaysia Strata Title JMB Liability Insurance

Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Largest Strata Title and JMB Insurance Risk Management Advisory Organization
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumour, Malaysia.
(O) +603-9286 3323
(F) +603-9282 3232
(E) jmbimcare@jmbinsurance.com.my
(W) http://www.jmbinsurance.com.my
(FB) http://www.facebook.com/jmbinsurance

Exclusively Designed for JMB’s or MC only
(Joint Management Body or Management Corporation),
Strata Title Property Insurance and Property Management Liability Insurance

Arranged by
Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Largest Strata Title Insurance and JMB Liability Insurance Risk Management Advisory Organization

Strata Title Property Insurance and Property Management Liability Insurance

The Building and Common Property (Maintenance and Management) Act 2007(” The Act”) coming into force on 12 April 2007 in the Peninsular Malaysia.

The powers and duties of the JMB are enumerated by Section 8 of the Act which stated
8. (1)(c) to insure and keep insured the building to the replacement value of the building against fire and such other risks as may be determined by the Body;
8. (1)(d) to apply insurance moneys received by the Body in respect of damage to the building for the rebuilding and reinstatement of that building;
8. (3) The Body shall be deemed—
(a) for the purposes of effecting any insurance under paragraph (1)(c), to have an insurable interest in the building equal to its replacement value or any value as determined by the Body; and
(b) for the purposes of effecting any insurance under paragraph (1)(d), to have an insurable interest in the subject matter of the insurance.
Interpretation:

The Joint Management Body must insured the following insurance:

1. Fire & All perils Insurance (Min perils Subsidence & Landslip, RSMD & BOW)

Building – For all the units that is individually own including all the common property.
In this case when the purchaser have a Loan with the Bank, the purchaser need not buy an additional insurance and can use the individual “Certificate of Insurance” issued from the Master policy.
It should include the following clauses:-
Reinstatement Value (valuation report by an accredited quantity surveyor at least once in 5 years)
Removal of Debris
Architect & surveyor Fee
Rent Clause

2. Public Liability Insurance
Legal liability to pay compensation for accidental bodily injury or accidental damage to the property to the Visitors for using the common property of the Building.

Under Section 4 Establishment of a Joint Management Body
(2) The Body established by subsection (1) shall be a body corporate having perpetual succession and a common seal.
(3) The Body may sue and be sued in its name.
(4) The Body shall comprise the developer and the purchasers.

Interpretation:

As the JMB is a body corporate the volunteered committee members can now be sued by the purchasers for Breach of Duty. An E&O or a PL policy to protected the personal liability of the individual committee.

3. Error & Ommission or Professional Liability Insurance

The Insurer will pay on behalf of any Insured all Damages resulting from any Claim for any Breach of Duty of the Insured.
N/B The policy should be placed immediately after the formation of the JMB.

Strata Title Risks Solution:

Products Offered:
Fire Insurance
Fire Consequential Loss Insurance
All Risk Insurance
Crime Insurance ( Burglary & Money Insurance)
Plate Glass Insurance
Machinery Breakdown Insurance
Public Liability Insurance
Property Terrorism
Error & Omission or Professional Indemnity for Joint Management Body (JMB) or Management Corporation (MC).

Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Largest Strata Title and JMB Insurance Risk Management Advisory Organization
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumour, Malaysia.
(O) +603-9286 3323
(F) +603-9282 3232
(E) jmbimcare@jmbinsurance.com.my
(W) http://www.jmbinsurance.com.my
(FB) http://www.facebook.com/jmbinsurance

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Liability Insurance Kuala Lumpur Malaysia

Shopping Mall installation liability insurance FB Wall Post
For More Details Liability insurance,
Please call +603-92863323 or enquiry@acpgconsultant.com
Click Here For Insurance Quote Enquiry Form Submission
Type of Liability Insurance
Public Liability Insurance Kuala Lumpur Malaysia
Product Liability Insurance Kuala Lumpur Malaysia
Legal Liability Insurance Kuala Lumpur Malaysia
Personal Liability Insurance Kuala Lumpur Malaysia
Third Party Liability Insurance Kuala Lumpur Malaysia
Employer Liability Insurance Kuala Lumpur Malaysia
Food & Drink Poison Liability Insurance Kuala Lumpur Malaysia
Contractor Liability Insurance Kuala Lumpur Malaysia
Construction work Liability Insurance Kuala Lumpur Malaysia
Renovation work Liability Insurance Kuala Lumpur Malaysia
Installation work Liability Insurance Kuala Lumpur Malaysia
Sub Contractor Liability Insurance Kuala Lumpur Malaysia
Banting and Banner Liability Insurance Kuala Lumpur Malaysia
Signboard Liability Insurance Kuala Lumpur Malaysia
Principal Property Damage Liability Insurance Kuala Lumpur Malaysia
House owner Liability Insurance Kuala Lumpur Malaysia
Property owner Liability Insurance Kuala Lumpur Malaysia
Premises Owner Liability Insurance Kuala Lumpur Malaysia
Strata Title Liability Insurance Kuala Lumpur Malaysia
JMB Management Liability Insurance Kuala Lumpur Malaysia
Property Management Liability Insurance Kuala Lumpur Malaysia
Professional Liability Insurance Kuala Lumpur Malaysia
Management Liability Insurance Kuala Lumpur Malaysia
Public liability insurance
Public liability insurance protects your business against the cost of settling or defending a claim for bodily injury or property damage from a client or member of the public. It’s designed to cover you for all the slips, trips and falls that sometimes simply can’t be avoided in the workplace or in a professional capacity.
What many people don’t realise is that, as a business owner they can be liable for all sorts of accidents both on their business premises and away from them. For example, if you were to damage a client’s property in their office a claim could be brought against you. Likewise, if a member of the public or a client slipped on a wet floor at your business premises and injured themself, you could be held responsible
Public liability insurance explained
Public liability insurance is designed to protect you against claims made by the public that they have suffered an injury or loss as a result of your business.
Even if you don’t have visitors to your office or home, you could still suffer a public liability claim, for example if you accidentally damage a client’s property in their office. In this scenario, public liability insurance would pay out the cost of compensation to be paid to the individual, as well as the legal fees and expenses involved.
Anyone working for you could also trigger a public liability claim against your business if their actions at work injure a client or member of the public.
Do I need any other kinds of business insurance?
To help protect your business, ACPG can provide small businesses with public liability insurance as a standalone policy or it can be purchased together with our range of business insurance products including ACPG Employers’ Liability Insurance.
How much does ACPG public liability insurance cover me for?
How much you’re covered for in terms of compensation pay-out will depend on the level of cover you choose, and you’ll be covered for up to RM100,000 for any legal feels spent in defending a claim.
If you have employees, employers’ liability insurance is a legal requirement and can be bought as a package with our public liability insurance.
Do I need public liability insurance?
If your business premises are visited by clients, or if your employees regularly work off-site, it may be worth considering public liability cover.
If you work from home, you may assume you don’t need a policy, but this isn’t necessarily the case.
Say, for example, you decide to take a marketing stand at your industry’s big trade show to get some publicity for your firm.
But during the show a bit falls off and injures a passer-by; an embarrassing episode could turn into a costly one if that person decides to sue.
Also, if you visit clients’ premises or have access to their equipment, then it’s worth considering buying public liability cover, because if you inadvertently damage their property you may have to pay the cost of repairing or replacing it.
It could be something as simple as knocking your cappuccino over your client’s new MacBook or one of your employees tripping over in a client’s server room. He brings a stack of expensive computer equipment down as he falls, which might seem like a classic ‘You’ve Been Framed’ moment at the time, but the RM1250 you’d earn from the trip (pardon the pun) wouldn’t begin to cover the cost of a new server, when your client sends you the bill.
What does public liability insurance cover?
A public liability policy covers you and your employees against property damage when working in a client’s home, office or business property.
Under the Injury Cost Recovery Scheme, the NHS is now allowed to reclaim the cost of transporting and treating a patient, in cases where personal injury compensation is paid out. So if your business activities injure a third party, public liability insurance will protect you from the cost of a possible NHS claim.
How much does public liability insurance cost?
How much you pay for cover depends on the size and type of your business, and the level of risk it undertakes. Discuss this with your insurer before you buy your policy in order to assess what level of cover provided is right for your business .
You may find clients expect you to have a minimum level of cover, according to your area or industry. This is often the case for businesses working with the public sector where the minimum requirement is usually between RM 5-10 million.
Is public liability insurance a legal requirement?
Choosing not to purchase public liability insurance will not land you with a jail sentence or a hefty fine.
But having the right insurance can make your business look more professional and offer you peace of mind.
You don’t want to get into a spat with one of your best clients over the consequences of an accident or damage to one of their properties.
Getting a public liability policy means you can let your insurer deal with any problems, while you get on with running your business.
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Malaysia Insurance Services, Malaysia General Insurance, Malaysia Commercial Insurance, Malaysia Medical Insurance
Arranged by
ACPG Management Sdn Bhd
Malaysia General Insurance Risk Management Solution Provider since year 1989.
ACPG Careline +603-92863323
enquiry@acpgconsultant.com

Sundry Shop & Mini Market Insurance Kuala Lumpur Malaysia

Sundry Shop Retail Outlet Insurance FB A4
Shop and Outlet Insurance Package
Exclusive Arranged by
ACPG Management Sdn Bhd
www.acpgconsultant.com
+603-92863323
enquiry@acpgconsultant.com

Sundry Shop & Mini Market Insurance
1)Money Insurance (Money Premises and Money In Transit Coverage)
– Reimburses any loss of money either in transit or kept in the insured premises.

2)Burglary Insurance (Theft, Hold up and Arm Robbery Coverage)
– Indemnifies you against loss of property caused by burglary and theft to your insured property (including attempted theft). It also provides you indemnity for damage to your premises, if you are responsible for making good such damage.

3)Public Liability Insurance (Legal Liability on Third Party)
– Insures you against legal liability for third party bodily injury or property damage arising from your business.

4)Employers’ Liability Insurance
– Safeguard against liabilities in the event of negligence to your
employee which occurred during the period of employment.

5)Fidelity Guarantee Insurance
– Provides cover against the loss of money or other property due to
fraud or dishonesty committed by employee.

6)Mobile Plant & Machinery Insurance
– Insures any mechanically propelled vehicle / equipment which is not licensed for use on a road and which is not used on a road (vehicles used on roads should be covered by a motor insurance.)

7) Workmen’s Compensation Insurance (Workers Accident Coverage and Liability Coverage)
– Covers employers for the payment of compensation to workmen
for injury suffered in the course of their employment in accordance with Workmen’s Compensation (Amendment) Act 1996 and the related Acts.

Exclusive Arranged by
ACPG Management Sdn Bhd

Malaysia Insurance Services, Malaysia General Insurance, Malaysia Commercial Insurance, Malaysia Medical Insurance

Arranged by

ACPG Management Sdn Bhd
Malaysia Largest General Insurance Risk Management Solution Provider since year 1989.
ACPG Careline +603-92863323
enquiry@acpgconsultant.com
www.acpgconsultant.com
www.facebook.com/acpg.management

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Factory / Manufacturing Insurance Kuala Lumpur Malaysia

Factory / Manufacturing Insurance Kuala Lumpur MalaysiaFactory Insurance FB A4
Exclusive Arranged by
ACPG Management Sdn Bhd
www.acpgconsultant.com
+603-92863323
enquiry@acpgconsultant.com

Factory / Manufacturing Insurance Coverage

– Foreign Workers Insurance
(FWCS / SKHPPA / FWIG)
– Machinery & Equipment All Risks Insurance
– Special All Risk Insurance
– Machinery Breakdown Insurance
– Machinery Breakdown Loss of Profit
– Workmen’s Compensation Insurance
– Group Hospital & Surgical Insurance
– Fire & Lightning Insurance
– Fire Consequential Loss / Fire Profit Loss Insurance
– Water Damage / Flood Insurance
– Goods In Transit Insurance
– Marine Cargo Insurance
– Employer’s Liability Insurance
– Public Liability Insurance
– Product Liability Insurance
– Keyman / Senior Officer Protection

Malaysia Insurance Services, Malaysia General Insurance, Malaysia Commercial Insurance, Malaysia Medical Insurance

Arranged by
ACPG Management Sdn Bhd
Malaysia Largest General Insurance Risk Management Solution Provider since year 1989.
ACPG Careline +603-92863323
enquiry@acpgconsultant.com
www.acpgconsultant.com
www.facebook.com/acpg.management
www.walkinonline.com/store/ACPG.php

Fashion Boutique, Bridal House & Retail Outlets Insurance Kuala Lumpur Malaysia

Fashion Boutique, Bridal House & Retail Outlets Insurance Kuala Lumpur MalaysiaRetail Outlet Insurance FB A4
Exclusive Arranged by
ACPG Management Sdn Bhd
www.acpgconsultant.com
+603-92863323
enquiry@acpgconsultant.com
www.facebook.com/acpg.management
www.walkinonline.com/store/ACPG.php

Fashion Boutique, Bridal House & Retail Outlets Insurance Package

1. Fire / Fire Profit Loss
– Fire, lightning, thunderbolt, subterranean fire. Impact damage by road vehicles
or animals. Bursting or overflowing of domestic water tanks, apparatus or pipes.
Hurricane, cyclone, typhoon, windstorm & flood.

2. Money
– Reimburses any loss of money either in transit or kept in the insured premises.

3. Burgalry
– Indemnifies you against loss of property caused by burglary and theft to your
insured property (including attempted theft). It also provides you indemnity for
damage to your premises, if you are responsible for making good such damage.

4. Public Liability
– Insures you against legal liability for third party bodily injury or property
damage arising from your business.

5. Employers’ Liability
– Safeguard against liabilities in the event of negligence to your employee which
occurred during the period of employment.

6. Fidelity Guarantee
– Provides cover against the loss of money or other property due to fraud or
dishonesty committed by employee.

7. Mobile Plant & Machinery
– Insures any mechanically propelled vehicle / equipment which is not licensed for
use on a road and which is not used on a road (vehicles used on roads should be
covered by a motor insurance.)

8. Workmen’s Compensation
– Covers employers for the payment of compensation to workmen for injury
suffered in the course of their employment in accordance with Workmen’s
Compensation (Amendment) Act 1996 and the related Acts.

Malaysia Insurance Services, Malaysia General Insurance, Malaysia Commercial Insurance, Malaysia Property Insurance, Malaysia Medical Insurance

Arranged by
ACPG Management Sdn Bhd
Malaysia Largest General Insurance Risk Management Solution Provider since year 1989.
ACPG Careline +603-92863323
enquiry@acpgconsultant.com
www.acpgconsultant.com
www.facebook.com/acpg.management
www.walkinonline.com/store/ACPG.php

Public Liability Insurance Kuala Lumpur Malaysia

Exhibition Liability Insurance FB Wall Post

Shopping Mall Installation Liability Insurance, Commercial Building Renovation Liability Insurance,
Renovation Liability Insurance, Installation Liability Insurance,
Construction Liability Insurance and Contractors Liability Insurance
Exclusive Arranged by
ACPG Management Sdn Bhd
www.acpgconsultant.com
+603-92863323
enquiry@acpgconsultant.com
www.facebook.com/acpg.management
www.walkinonline.com/store/ACPG.php
Shopping Mall Liability Insurance, Commercial Building Liability Insurance, Renovation Liability Insurance, Installation Liability Insurance, Construction Liability Insurance and Contractors Liability Insurance
Installation & Dismantle Period, Project Period, Annual Cover Period
*Public Liability Insurance
*Legal Liability Insurance
*Third Party Liability Insurance
Type of Insurance Coverage
Contractor All Risk Insurance (CAR)
Erection All Risk Insurance (EAR)
Public Liability Insurance (PL)
Workmen’s Compensation Insurance (WC)
Foreign Worker Insurance (FWCS/FWIG/SKHPPA)
Machinery All Risk Insurance
Employer’s Liabiliy Insurance
Group Accident (PA) & Group Medical (H&S) Insurance

 

Public liability insurance

Public liability insurance protects your business against the cost of settling or defending a claim for bodily injury or property damage from a client or member of the public. It’s designed to cover you for all the slips, trips and falls that sometimes simply can’t be avoided in the workplace or in a professional capacity.
What many people don’t realise is that, as a business owner they can be liable for all sorts of accidents both on their business premises and away from them. For example, if you were to damage a client’s property in their office a claim could be brought against you. Likewise, if a member of the public or a client slipped on a wet floor at your business premises and injured themself, you could be held responsible
Public liability insurance explained
Public liability insurance is designed to protect you against claims made by the public that they have suffered an injury or loss as a result of your business.
Even if you don’t have visitors to your office or home, you could still suffer a public liability claim, for example if you accidentally damage a client’s property in their office. In this scenario, public liability insurance would pay out the cost of compensation to be paid to the individual, as well as the legal fees and expenses involved.
Anyone working for you could also trigger a public liability claim against your business if their actions at work injure a client or member of the public.
Do I need any other kinds of business insurance?
To help protect your business, ACPG can provide small businesses with public liability insurance as a standalone policy or it can be purchased together with our range of business insurance products including ACPG Employers’ Liability Insurance.
How much does ACPG public liability insurance cover me for?
How much you’re covered for in terms of compensation pay-out will depend on the level of cover you choose, and you’ll be covered for up to RM100,000 for any legal feels spent in defending a claim.
If you have employees, employers’ liability insurance is a legal requirement and can be bought as a package with our public liability insurance.
Do I need public liability insurance?
If your business premises are visited by clients, or if your employees regularly work off-site, it may be worth considering public liability cover.
If you work from home, you may assume you don’t need a policy, but this isn’t necessarily the case.
Say, for example, you decide to take a marketing stand at your industry’s big trade show to get some publicity for your firm.
But during the show a bit falls off and injures a passer-by; an embarrassing episode could turn into a costly one if that person decides to sue.
Also, if you visit clients’ premises or have access to their equipment, then it’s worth considering buying public liability cover, because if you inadvertently damage their property you may have to pay the cost of repairing or replacing it.
It could be something as simple as knocking your cappuccino over your client’s new MacBook or one of your employees tripping over in a client’s server room. He brings a stack of expensive computer equipment down as he falls, which might seem like a classic ‘You’ve Been Framed’ moment at the time, but the RM1250 you’d earn from the trip (pardon the pun) wouldn’t begin to cover the cost of a new server, when your client sends you the bill.
What does public liability insurance cover?
A public liability policy covers you and your employees against property damage when working in a client’s home, office or business property.
Under the Injury Cost Recovery Scheme, the NHS is now allowed to reclaim the cost of transporting and treating a patient, in cases where personal injury compensation is paid out. So if your business activities injure a third party, public liability insurance will protect you from the cost of a possible NHS claim.
How much does public liability insurance cost?
How much you pay for cover depends on the size and type of your business, and the level of risk it undertakes. Discuss this with your insurer before you buy your policy in order to assess what level of cover provided is right for your business .
You may find clients expect you to have a minimum level of cover, according to your area or industry. This is often the case for businesses working with the public sector where the minimum requirement is usually between RM 5-10 million.
Is public liability insurance a legal requirement?
Choosing not to purchase public liability insurance will not land you with a jail sentence or a hefty fine.
But having the right insurance can make your business look more professional and offer you peace of mind.
You don’t want to get into a spat with one of your best clients over the consequences of an accident or damage to one of their properties.
Getting a public liability policy means you can let your insurer deal with any problems, while you get on with running your business.

 

Malaysia Insurance Services, Malaysia General Insurance, Malaysia Commercial Insurance, Malaysia Property Insurance, Malaysia Medical Insurance
Arranged by
ACPG Management Sdn Bhd
Malaysia Largest General Insurance Risk Management Solution Provider since year 1989.
ACPG Careline +603-92863323
enquiry@acpgconsultant.com
www.acpgconsultant.com
www.facebook.com/acpg.management
www.walkinonline.com/store/ACPG.php
Shopping Mall installation liability insurance FB Wall Post

Malaysia Risk Management Insurance Solution Service Provider

Malaysia Largest Insurance Solution Service provider IVR3001

 

ACPG Management Sdn Bhd

Your Experience Insurance Risk Management and Solution Service Provider since year 1989 and Head Office Located at Kuala Lumpur Malaysia .

For more details of Malaysia Insurance package and risk management services www.acpgconsultant.com and contact our ACPG careline +603-92863323.

Click Here For Insurance Quote Enquiry Form Submission

 

ACPG Management Sdn Bhd

What We Can Do…..

One of the reasons we at ACPG Management Sdn Bhd, are one of the top Property and Casualty Insurance Agency in the Kuala Lumpur Malaysia market, is due to the quality and variety of insurance solution and consultancy services we provide. Be it automotive insurance, fire insurance, all others type classes of life and general insurance, consequential loss insurance, insurance of precious possessions or what have you, you can rest assured that we provide nothing less than what are stated below, which makes us an insurance agency that is truly “Almost with No Comparison”, and we do not make such claims lightly.

With 27 years since year 1989 in the insurance Malaysia market we can

Give our Expert Opinion On Your Risks.

How To Handle The Risks.

Provide The Best Insurance Solutions.

Provide Competitive Premium.

Handle Insurance Claims With Comprehensive Homework.

Work Closely with Insurance Adjusters, Insurer Claim Officers and Policy Holders.

Assisted Claims

By its very nature, a claim is made at a difficult and stressful time. You may need to make a claim because you have been burgled, there has been a fire or flood or worse and your business may be forced to stop operating. In such a situation, you need a settlement and fast.

Most insurance companies are well aware of this and if you are making a claim directly to an insurance company or through an unqualified agent and without any professional help, you may find the small print in your policy is not what you expected or the settlement amount is not enough.

When you have to make a claim, the insurance company will send out a loss adjustor to assess the damage. It is important to understand that the loss adjustor works for the Insurance company and not you so they will put the interests of the insurance company first.

If you are one of our clients, we will represent your interests when the loss adjustor visits the scene and in any discussions or negotiations to ensure you get the best possible settlement.

If you would like to meet for an informal consultation about your insurance needs and how we can place your coverage at exceptional rates, please do not hesitate to contact us.

Risk Management

Risk is when there’s an uncertainty about whether an event will or will not occur. Thus, risk management is the process of identifying exposures to risk, choosing the best method for handling each exposure and implementing it.

Insurance refers to a contract that reduces risk of loss and requires one party to pay a specified sum to another if a previously identified event occurs. Thus, insurance planning is the process of handling and safeguarding against future risk of loss and ensuring sufficient compensation is provided.

Risk Management Technique

When it comes to risk management, there are 4 basic methods :

Risk Avoidance

To avoid engaging in an activity or owning property that might lead to an exposure of risk.

Risk Assumption

To recognize risk and accept it as part of its activities.

Risk Transfer

To transfer risk to another party.

Risk Reduction

To take steps to reduce the uncertainty of loss.

 

 

Malaysia General Insurance Services
Arranged by
ACPG MANAGEMENT SDN BHD
Your Experienced and Trusted
Malaysia Risk Management Insurance Solution Service Provider since year 1989.
ACPG careline : +603-9286 3323,
enquiry@acpgconsultant.com,
www.acpgconsultant.com

Facebook Business page  www.facebook.com/acpg.management

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