Property All Risk (PAR) insurance protects your warehousing (cold storage) facilities from risks like Fire, Lightning, Explosion, Aircraft Impact and Smoke (FLEXAS), Typhoon, Storm, Flood, Water Damage (TSFWD), Riot, Strike, Malicious Damage, Civil Commotion (RSMDCC), Earthquake, Volcanic Eruption, and Tsunami (EQVET).
Example: If a fire breaks out in your cold storage warehouse, damaging the building and cooling equipment, PAR insurance covers the repair or replacement costs, ensuring you can quickly return to full operational capacity.
BI insurance covers financial loss if your cold storage operations are disrupted due to property damage, helping you stay afloat during downtime.
Example: If your cold storage warehouse sustains storm damage and operations are halted for repairs, BI insurance compensates for lost revenue and helps cover ongoing operating expenses during the interruption.
This insurance covers the financial loss from the spoilage or deterioration of stock in cold storage due to equipment failure, power outages, or temperature changes.
Example: If your refrigeration system fails, leading to the spoilage of perishable goods like meat or dairy, Deterioration of Stock insurance will compensate for the value of the spoiled products, minimizing financial loss.
Machinery Breakdown insurance covers the cost of repairing or replacing equipment that fails due to mechanical or electrical issues.
Example: If a refrigeration unit in your facility malfunctions, Machinery Breakdown insurance would cover repair or replacement costs, allowing you to maintain consistent cold storage conditions.
Public Liability insurance protects your business from claims if third parties are injured or their property is damaged due to your operations.
Example: If a delivery driver slips on a wet floor in your warehouse, Public Liability insurance would cover their medical bills and any legal costs that arise from a claim.
Motor Fleet insurance covers all company-owned vehicles used in your warehousing operations, from transport trucks to delivery vans.
Example: If one of your refrigerated trucks is involved in an accident while delivering goods, motor fleet insurance covers the repair costs for the truck, as well as any liability for damage caused to other vehicles or property.
Employee Liability insurance covers your business against claims from employees for workplace injuries or illnesses sustained on the job.
Example: If an employee is injured while operating machinery in your cold storage facility, this policy covers medical expenses and compensation for lost wages, protecting your business from legal claims.
Commercial Crime insurance protects your business from financial losses due to criminal activities like theft, fraud, or embezzlement by employees or third parties.
Example: If an employee embezzles funds or a third party steals valuable stock from your warehouse, Commercial Crime insurance would cover the financial losses, safeguarding your business's assets.
D&O insurance protects the personal assets of your executives, company, and security if there are legal actions due to mismanagement.
Example: If your public company’s board is sued by shareholders for a decision that led to financial losses, D&O insurance would cover the legal defense costs and any settlements, protecting the personal assets of the directors and officers.
Employee Benefit insurance helps provide health, life, and disability coverage including medical expenses (Inpatient & Outpatient) for your employees, enhancing retention and job satisfaction.
Example: Providing health insurance and life benefits to your warehouse employees enhances morale and helps attract high-quality workers in a competitive market.
