Marine Get Quote



Open Cover
An open cover is an agreement (not a policy) whereby the insurer will accept insurance of all shipments made by the assured, within the terms of the cover for a fixed period, usually for 12 months. Being an agreement, it is not stamped. However, stamped policies or certificates of insurance are issued against the declaration made by the assured. The open cover is of great convenience to the clients engaged in regular import/export trade.

Open Policy
It is an Annual Cargo Insurance Contract expressed in general terms and effected for a round sum sufficient to cover a number of dispatches until the sum insured is exhausted by declarations. The Open Policy, also known as the Floating Policy, saves the assured the inconvenience of affecting individually the insurance of goods dispatched anywhere in the world. The policy may cover both incoming and outgoing consignments from anywhere in world to anywhere in world except to sanction countries or those countries where insurer have restriction to cover. The sum insured under the policy should ordinarily represent the assured’s estimated annual turnover of the goods.

Specific Voyage
In Marine Insurance specific policies are issued to cover a specific single transit. Cover ends as soon as arrival of cargo at destination.
Goods in Transit (In-land Transit) Policy
Annual policy is granted in respect of goods belonging to the Assured and or held in trust by the assured and not under contract of sale and or purchase which are in transit by road with UAE and can be extended to cover other GCC countries. Important features of this policy are:

  • Insurable interest to remain with insured
  • Policy not assignable or transferable
  • Issue of Annual policy to transport operators/contractors, clearing and forwarding agents
  • Coverage is available on All Risks basis or Basic cover (Loss or damage to the goods caused due to Fire, Collision and Overturning of the carrying truck). Can be extended to cover loading and unloading risks, our policies include this cover.

In simple words, Marine Insurance covers loss or damage to goods transported through different modes of transport (such as Sea, Air, Land, Rail) from one place to another.

  • Cargo in transit
  • Freight Costs
  • Customs duty & taxes
  • Increased value of cargo 

  • Consignor/ Seller
  • Consignee/ Buyer
  • Any party who hopes to acquire insurable interest in the cargo

Based on the terms of sale either the purchaser or the seller of the commodity purchases Insurance.
The most commonly used Terms of Sale (Inco Terms):

  • Ex-works
  • FOB – Free on Board 
  • C&F – Cost & Freight
  • CIF – Cost, Insurance & Freight
Not so Commonly Used Terms of Sale:

Brand new , Used , Household goods and personal effects , Reefer cargoes, Project cargoes

  • Open Cover 
  • Specific Policies
  • Annual Policy

For Sea/Air Freight shipments:-

  • Institute Cargo Clause (A)
  • Institute Cargo Clause (B)
  • Institute Cargo Clause (C ) 
For Land Transit Shipments :-
  • Land Transit (All Risks)
  • Land Transit Basic Clause 

  • Axa Insurance Gulf BSC 
  • American Home Assurance Company
  • Royal and Sun Alliance Insurance Co
  • Oman Insurance Company
  • Tokio Marine & Nichido Fire Insurance Co.Ltd 
  • Qatar Insurance Co. 

  • Contact with rain or sea water.
  • Condensation (ship/container or cargo sweat). 
  • Hijacking of entire container and cargo.
  • Misrouting or non-delivery of cargo due to insufficient marks
  • Pushing and dragging cargo when inadequate material handling equipment or in-experienced labor is used

  • Take photos of damage items immediately 
  • Copy of claim letter on carrier and reply
  • Intimate loss to Insurance Co. 
  • Survey report
  • Exception or Short Landing Certificate
  • Ocean, Air, Rail or Truck bill of lading
  • Commercial (shipper) Invoice, Packing list
  • Bill of Entry, if applicable
  • Quantum Of loss 

  1. Cargo should be professionally packed in order to minimize loss or damage to cargo
  2. If the cargo carried is valuable or white goods then the packing should be in wooden boxes with shrink wrapping so that chances of theft are negligible.

Retail Package Get Quote

Retail Package Policy


This is a package policy specially designed for retail business and office. It is a single policy combining the various insurance requirements. The policy comprises of following sections :

  • Building & Contents
  • Stock in Trade
  • Burglary & Housebreaking
  • Workmen’s Compensation / Employer’s Liability
  • Loss of Money 
  • Plate Glass
  • Neon Sign/Glow Sign
  • Personal Accident
  • Fidelity Guarantee
  • Public Liability
  • Loss of Profit / Increase cost of working

Property Get Quote

Property All Risks Insurance


Property All Risks Insurance
This insurance policy indemnifies the Insured for accidental physical loss of or damage to the property insured whilst situated at the premises described in the policy. It includes loss or damage by fire, lightning, aircraft, explosion, earthquake, strike, riot, civil commotion, malicious damage, storm, tempest, flood, bursting or overflowing of water apparatus (including sprinkler leakage), impact by own vehicles, theft or attempted theft (by violence to persons or threat thereof or by violent and forcible entry to or exit from the premises) and accidental loss or damage.
The coverage is usually provided for a period of one year. The Sum Insured may be either on the basis of the actual value or the new replacement value of the property but should be adequate to cover the total exposure. The Insured has to provide the sum Insured but may seek the assistance of our technical staff to determine the adequacy. Sum Insured is very important and needs to be given due consideration to avoid application of Average [i.e. application of under-insurance] in the event of a claim.
The rate chargeable is always applied on "Per Mille" basis (for every thousand units) on the total sum Insured and is very much dependent on the nature of risk, location and the housekeeping and other physical features of the risk. There is a deductible for each and every loss under the policy. The insurance is also subject to other terms and conditions as printed on the Policy.

Machinery Breakdown Get Quote

Machinery Breakdown Insurance


Machinery Breakdown Insurance
This is a policy which covers financial loss incurred by the insured due to loss or damage to machinery as a result of sudden accidental electrical and mechanical breakdown. It reimburses the insured for the cost of repairs or replacement of machinery of like nature.

Fire & Alliedperils Get Quote

Fire & Allied perils insurance


Fire & Allied Perils Insurance

Any loss or damage to material and property causes in terms of loss of capital and other consequential losses The aftermath of fire is drastic and monetary relief is essential to rebuild and restore the property and bring back the business to its normal course It is here that fire insurance plays its role in safeguarding the financial interests of entrepreneurs:
Fire insurance Policy covers all immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer's premises, machinery temporarily removed from the premises for repairs against loss or damage by fire, and a host of other perils listed below & many more.

  • Lightning
  • Explosion/implosion
  • Aircraft and articles dropped there from
  • Impact damage due to rail/road or animal
  • Riot, strike, malicious damage
  • Subsidence and land slide 
  • Storm, cyclone, flood and inundation,
  • Sprinkler leakage, 
  • Overflow, leakage of water tanks, pipes etc.
In case of a partial loss, payment for repairs and replacement is made. In case of policy with reinstatement value clause, cost of reinstatement will be paid on completion of reinstatement subject to overall limit of the sum insured. Insurance company may at its option, also repair or replace the affected property instead of paying for the cost of restoration.
Quotations will be provided on submission of a duly completed proposal form. For further details please call or ask for a call back via the call back option.

Erection All Risks Get Quote

Storage Cum Erection Insurance


Erection All Risks (also known as Storage Cum Erection Insurance)

  • The Erection All Risks insurance provides a comprehensive insurance solution covering wide range of risks to which a project work is exposed to, starting right from arrival of material at site till successful testing and commissioning of the project. This policy is extremely useful for Principal owners, contractors, consulting engineers, architects and financiers because it contributes to reducing the overall construction and erection expenses and offers them protection against unforeseen accidents leading to financial losses under a single policy. This is an 'All Risk' policy covering sudden and unforeseen physical damage to projects under erection insured by any cause or peril not specifically excluded under the policy and resulting during the course of:
  •     Erection
  •     Storage
  •     Testing
  •     Commissioning

Electronic Equipment Get Quote

Electronic Equipment Insurance


Electronic Equipment Insurance
This is a specially designed policy which covers accidental loss or damage to electronic equipment. The policy covers the following types of equipment:

  • Electronic data processing machine
  • Telecommunication equipment
  • Transmitting and receiving installations(including Radio, TV, Cinema Sound Reproduction and Studio Equipment)
  • Material testing and research equipment
  • Electro-Medical Installations
  • Signal and Transmitting units
  • Office calculators, duplicating machines and Reproduction machines
  • Control and supervisory units
  • The policy can be extended to include the following risks on payment of additional premium:
  • Damage to external data media for example punch cards, tapes, discs etc. as also the cost of reconstruction of data on this external media caused by a peril covered under the policy.
  • The additional expenditure incurred due to use of a substitute computer system as a result of an accidental damage to the computer insured under the policy and which is covered by the policy.

Contractors (Construction) All Risks Get Quote

Contractors (Construction) All Risks Insurance


Contractors (Construction) All Risks Insurance

  • This policy is specially designed to give financial protection to the Civil Engineering Contractors in the event of an accident to the civil engineering works under construction. The policy can be arranged for specific project or annual policy covering all projects subject to project declaration on monthly or quarterly basis.In case the policy period exceeds 12 months, the premium can be paid in quarterly instalments with the first instalment being more by 5% and the last instalment being paid 6 months before expiry of the policy. The policy comprises of 2 sections:
  • Material Damage: Covering physical loss, damage or destruction of the property insured by any cause, other than those specifically excluded in the policy
  • Third Party Liability: Covering the legal liability falling on the insured contractor as a result of bodily injury or property damage to a third party

Contractor’s Plant and Machinery Get Quote

Contractor’s Plant and Machinery Insurance


Contractor’s Plant and Machinery Insurance

  • This policy covers all different types of machinery used for handing material or construction. The policy covers sudden, accidental, external damage to the insured machinery due to any cause other than those specifically excluded in the policy.
  • The policy covers the machinery whilst they are in operation or at rest or whilst being dismantled for the purpose of cleaning or overhauling or whilst being shifted within the premises or during subsequent re-erection, but in any case only after successful commissioning.

Business Interruption Get Quote

Business Interruption Insurance


Business Interruption Insurance

  • Generally insurance policies cover only physical damage to property by insured perils. This, at best, covers the expenses incurred for repairing or replacing the damaged property. But what about the financial loss suffered due to interruption of business operations whilst the damaged property is being repaired or replaced?
  • This policy offers a solution by covering profit lost due to reduction in turnover arising from interruption of business following damage to the property insured.
  • This policy also known as Business Interruption Policy or Loss of Profit Policy can be taken only in conjunction with Fire Policy or Machinery Breakdown policy.

Professional Indemnity Get Quote

Professional Indemnity Policy


Professional Indemnity Policy
This policy is meant for professionals to cover liability falling on them as a result of errors and omissions committed by them whilst rendering professional service.
The policy offers a benefit of Retroactive period on continuous renewal of policy whereby claims reported in subsequent renewal but pertaining to earlier period after first inception of the policy, also become payable. Group policies can also be issued covering members of one profession.
In Professional Indemnity Policy, the sum insured is referred to as Limit of Indemnity. This limit is fixed per accident and per policy period which is called Any One Accident (AOA) limit and Any One Year (AOY) limit respectively.

Small Business Solutions Get Quote

Small Business Solutions


Small and Medium-sized Enterprises (SMEs) are a key component of every economy. The importance of SMEs as employment generators, innovators, factors in the supply chains of larger enterprises, and important contributors to gross domestic product of any Country especially in the UAE. 

Most of small & medium enterprises build their businesses through blood and sweat but are often prone to disasters like fire and burglary & legal claims which could wash away their sweat in record time. So, it is essential that products offered should add value and are affordable to targeted consumers. 

Keeping that aspects in mind, EIB has the right solution and customize your policy cover to suit & protect your business risks of Assets, Employees & Liabilities in any of the industry categories with the likes of: Retail, Food and Beverages, Offices, Education, Healthcare, Hospitality.

Property / (Fire & Allied Perils): Loss or damage to stocks, furniture, fixtures, fittings and other contents. Also, Loss or damage resulting from theft, including burglary and robbery, or any attempt of the same.

Glass and Signs:  Accidental breakage of glass, as well as the costs of repairing damaged signs or other outdoor fixtures or fittings of the insured property.

Business Interruption: Consequent upon the Damages to Property and the business being interrupted, this covers the resulting financial losses (loss of profits) in the normal business operations.

General Third-Party Public Liability: Any legal liability to pay compensation to third parties for personal injury or property damage.

Workmen Compensation/Employers Liability – Compensation for Work related Injuries and Sickness as per UAE Labour Law 8 of 1980

Money: Loss of money and unpresented cheques while locked in a safe, strong room or drawer on business premises.

Fidelity Guarantee: Loss of money or stocks as a direct result of acts of fraud, theft or dishonesty by an employee in the course of employment

Electronic Equipment: Accidental Loss of or damage to the Electronic equipments as a direct result of Operations, electrical faults, human element and other specified risksPersonal Accident: Loss arising from accidental injury, permanent disablement or death of your employees, including when they are travelling overseas.

  • Alternative Accommodation
  • Loss of Rent
  • Increased Cost of Working
  • Work away / Delivery risks under Liability
  • Neighbours and/or Tenants Liability
  • Food & Drink Poisoning
  • Employers Liability
  • Fidelity Extension under Money

Companies with an annual turnover of less than AED 40 million &/or others have specific insurance requirements from the local authorities/Financial Institutions including of Free Zones.

  • AXA Gulf
  • RSA
  • Tokio Marine
  • Oman Insurance
  • Orient Insurance
  • AIG
  • Other Takaful providers

  • Gradual Deterioration, Normal Wear & Tear
  • Warehousing risks
  • Retail Money exchanges
  • Jewellers & Precious Stones related
  • Product Liability, Recall & Guarantee
  • Trade Losses
  • Political Risks

  • It covers risks related to all aspects of your business under one pack;
  • Competitive pricing and wider terms
  • Ease of administration
  • Complies with any local regulatory requirements
  • Less hassle in terms of claims