Motor vehicle insurance, represented by a policy also called automotive insurance , a contract by which the insurer assumes the risk of any loss to the owner or operator of a car. It may incur through damage to property or persons as the result of an accident
When you are found legally responsible for a car accident, bodily injury liability coverage is the part of your insurance policy that pays for the costs associated with injuries to the other person or people involved. This coverage also provides a legal defense in the event that you are sued for damages.
Property damage liability insurance covers the cost of damages to someone else's property after an accident you cause. Most commonly, your property damage will pay out when you are at fault for an accident that causes damage to someone else's car.
Personal accident on car insurance will provide compensation for death or injuries as a result of car accident
In insurance circles, acts of God is defined as any accident or event not influenced by man. They are accidents caused by nature. Hurricanes, floods, hail, tsunamis, wildfires, earthquakes and tornados are all considered acts of God.
The deductible is the amount of expenses that must be paid out of the pocket before an insurer will pay any expenses in general usage it is also called participation fee.
E.R.A provides a quick and reliable help on the road, giving you access to emergency assistance in case your vehicle breaks down due to:
Vehicle owners are required by law to secure a compulsory third party liability insurance is a prerequisite to the registration of a motor vehicle by LTO.
Third party shall refer to any person other than a passenger as defined in the law and shall also exclude a member of the household,or a member of the family within the second degree of consanguinity or affinity of the vehicle owner,or his employee in respect to death,bodily injury,or damage to property arising out of and course of employment.
Motorcycle Inusrance offers the most comprehensive insurance protection for your most exciting possession. Now you can have the most exhilarating ride of your life without worries.
Compulsory Third Party Liability (CTPL) – Coverage required by the that protects the assured against liability of death or bodily injury to thirdparty arising from an accident caused by the insured vehicle, subject to the schedule of indemnities incorporated in the policy.
Voluntary Third Party Liability (VTPL) / Excess Bodily Injury (EBI) – This coverage answers for indemnities beyond the limits set forth under the CTPL coverage.
Third Party Property Damage (TPPD) – protects the assured against liability for damage caused by the insured vehicle to property belonging to a third party.
Own Damage (OD) – coverage against damages to the property insured arising from accidental collision, overturning, falling, fire and malicious acts of third party.
Personal Accident Insurance Rider (PA Rider) – coverage that financially protects passengers (including the driver) of a motorcycle against injury or death arising from a motorcycle accident.
Compulsory Third Party Liability (CTPL) – Coverage required by the that protects the assured against liability of death or bodily injury to thirdparty arising from an accident caused by the insured vehicle, subject to the schedule of indemnities incorporated in the policy.
Voluntary Third Party Liability (VTPL) / Excess Bodily Injury (EBI) – This coverage answers for indemnities beyond the limits set forth under the CTPL coverage.
Third Party Property Damage (TPPD) – protects the assured against liability for damage caused by the insured vehicle to property belonging to a third party.
Own Damage (OD) – coverage against damages to the property insured arising from accidental collision, overturning, falling, fire and malicious acts of third party.
Carnap - coverage that indemnifies the assured in case of loss of the whole insured vehicle pf part thereof resulting from the acts of thieves or carnappers.
Personal Accident Insurance Rider (PA Rider) – coverage that financially protects passengers (including the driver) of a motorcycle against injury or death arising from a motorcycle accident.
Acts of Nature Coverage - covers damages incurred by the insured vehicle caused by earthquake, typhoon, flood, volcanic eruption, lightning, fire, and other convulsions of nature.
Accidents can happen at any time, so make sure that you are adequately covered, should unforeseen accidents happen to you. This Insurance products are designed specifically with you and your PA cover in mind. Providing you with unrivaled financial protection if your circumstances result in bodily injury, disability or death due to unforeseen accidents.
1. Accidental Death Or Permanent Disablement – Pays up to the sum insured in the event of death or permanent disablement due to an accident.
2. Unprovoked Murder & Assault – Pays for 50% of the sum insured for accidental bodily injury or death sustained as a direct result of the insured being a victim of Unprovoked Murder or Assault
3. Medical Reimbursement – Pays for medical expenses incurred to accidental bodily injury.
4. Burial Assistance – Pays for the funeral expenses incurred following an accidental death or a natural death.
5. Family income assistance – Supplements the monthly income of the family for 12 months in the event of death of the principal insured arising out of an accident.
6. Child Educational Aid – Each eligible child receives an educational aid in the event of death of the principal insured.
7. Hospitalization Daily Allowance – Pays the daily income benefit for a maximum of 30 days when insured is confined in a hospital due to accident or sickness.
8. Personal & Family Liability – Indemnifies for bodily injury or property damage to third party as a result of negligence that the Principal Insured and Family members become legally liable.
With Travel Insurance, you will have comprehensive insurance cover when you travel. You will be covered against all possible damages, delays or unforeseen losses and expenses during your travels.
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.
Commercial Hull Insurance generally includes coverage for both physical damage to an owned or chartered vessel, salvage costs and limited property damage liability (collision and towers' liability) for the operation of that vessel. There are also specialized adaptations of hull insurance to cover vessels under construction (Builders' Risk) and for marine inventory held for sale (Boat Dealers' Physical Damage).
provides bodily injury and property damage liability. P&I covers exposures for the owner and the vessels' liability others including the crew of the vessel. P&I policies also include wreck removal.
Land-based liability insurance coverage for premises, operations, independent contractors and product / completed operations. Major exclusions include watercraft (covered by P&I policies) and property in the care, custody and/or control of the insured (usually covered by property or legal liability coverages).
There are a variety of coverages that address the different maritime bailee exposures (coverage for other people's property in the care of the insured). The list is self explanatory: Shiprepairers' Legal Liability, Marina Operators' Legal Liability, Terminal Operators' Liability, Stevedores' Liability and Wharfingers' Liability.
This is a relatively new policy structure which often combines traditional Commercial General Liability with different kinds of maritime liabilities such as. P&I and legal liability. MGL policies were intially written to address the unique needs of business that had both land-based and maritime liability exposures. A note of caution: Some MGL policies have the look and feel of the Commercial General Liability policy, but may have been altered or amended so as to limit the insurance company's exposure to losses, often to the detriment of the policyholder.
Marine excess liabilities. Usually provides higher limits over primary liability coverages including general liability, P&I, legal liability, automobile liability, employers' liability etc.
Virtually all standard third-party policies exclude pollution. Coverage can be purchased to include environmental impairment coverage for a site, for Underground Storage Tanks, Above Ground Storage Tanks and for Vessels. We are brokers for the Water Quality Insurance Syndicate. As such, we can arrange coverage for vessel pollution coverage, including limited fines and penalties and a number of other ancillary coverages.
Covers world-wide physical damage and loss of imported / exported goods. Can be extended to cover inland shipments and warehousing in transit - Cargo Application.
Fire Insurance is coverage against loss by fire and/or lightning. It may include coverage against loss by windstorm or earthquake and other allied risks, when such risks are covered by extension to fire insurance policies or under separate policies.
Covers the insured against direct loss or damage by fire occasioned by an earthquake.
Coverage against loss or damage by shock in consequence of an earthquake.
Coverage is normally given for completed buildings and contents of fully enclosed and roofed structures. Hence, buildings in the course of construction and goods stored in the open are usually excluded from the coverage. Loss or damage to the contents or interior of a building is covered only if the building itself is externally damaged.
Coverage against loss or damage caused by extraordinary rising of water following typhoon, cyclone and/or windstorm. This excludes flood caused by overflowing, bursting or leakage of water apparatus and lack of proper drainage.
Coverage against loss or damage caused by fire as a result of explosion but excluding loss or damage by boilers, economizers, steam engine pipes and other apparatus in which pressure is used.
Loss or damage must be caused directly by impact of an aircraft, including articles dropped therefrom or land vehicle.
Coverage against loss or damage due to smoke arising from sudden, unusual and faulty operation of any heating or cooking unit but only when such until is connected to a chimney.
Covers all direct loss or damage caused by strikers, or locked-out workers including wreckage and looting. This may be extended to cover deterioration of goods, in addition to direct loss or damage due to fire arising from public disturbance.
Covers loss or damage to the property insured indirectly caused by the malicious act of any person whether or not such act is committed in the course of a disturbance of the public peace.
A written and signed promise to pay a certain sum of money on a certain date, or on fulfillment of a specified condition. All documented contracts and loan agreements are bonds. BONDS
Undertakes to guarantee that the winning or successful bidder shall, within the prescribed period (but not necessarily 30 calendar days from receipt of the Notice of Award), enter into a contract with the government agency concerned and file the required performance bond.
It guarantees the construction and completion of a project in accordance with the approved plans, specifications, and terms and conditions of the contract. It may also guarantee the principal’s obligations under a supply or delivery and/or installation contract with respect to equipment, materials, supplies, and similar items.
A. Surety Bond for Advance Payment
Undertakes to guarantee the recoupment or repayment of the advance payment granted the contractor through deductions from progress billings submitted by the contractor for his periodic accomplishments.
B. Surety (Guaranty) Bond for Contractor’s Warranty ( Against Defects in Materials and Workmanship)
It guarantees the correction and repair or hidden defects in the materials and workmanship used by the contractor in the project found or becoming evident within one year from the date of final acceptance of the project.
A court appointed guardian of a minor or incapacitated person is required to give a bond which assures that he shall have the care and custody of the person of his ward and/or management of his estate.
A. Bond to Levy Attachment (Attachment Bond)
A provisional remedy by which the property of the adverse party in a case is taken into a custody of the law, or attached, as security for the satisfaction of any judgment which the plaintiff or any party may obtain.
B. Heir's Bond
Guarantees any claim by any heir or person who has been deprived of his lawful participation in the estate.
Any creditor who has a claim against the estate which has not been paid.
C. Preliminary Injunction Bond The bond
shall answer for all damages which the party enjoined by the order of injunction may sustain by reason of the issuance thereof if the court finally decides that the plaintiff was not entitled thereto.
D. Replevin Bond
Replevin is an action whereby the owner or person is entitled to repossession of goods or chattels from one who has wrongfully distrained or taken or who wrongfully detains such goods or chattels
It shall indemnify the person from whose custody the property was taken for such damages as he may sustain.
E. Supersedeas Bond
The bond shall for the damages suffered by the appellant by reason of the advance execution of the judgment of the lower court. It guarantees the performance of the judgment or order appealed from in case it be affirmed wholly or in part.
Established in 1958 by the Zuellig Group of Companies, FPG Insurance, formerly known as Federal Phoenix Assurance Co., Inc. has built an enviable reputation for developing in- depth customer insights that support the creation of relevant and comprehensive commercial and individual insurance products and solutions.
Motorcar and general fire insurance company in the Philippines. Our mission is to provide excellent insurance products and services to the growing needs of the Philippine market. We offer a wide range of property and general insurance products for individuals, small and medium enterprises and local and global corporations. Founded in 1958, we have insured the Filipino customer for more than 55 years through our 42 branches, dealer/agents and brokers network nationwide. We rely on a trusted and talented workforce of 800 people whose service delivery ensures that we remain a valued brand.
Liberty Insurance Corporation has entrenched an exceptional and distinguishing presence in the non-life insurance industry. With passion and commitment,we continue to bring outstanding products and services to the market. Business excellence, competetive advantage and opportunities are constantly sought out. Today, as a valuable member of the Jose Cojuangco and Sons Group of Companies, Liberty Insurance Corporation remains true to its corporate values: professional and ethical service, reliability, leadership, commitment and business with integrity.
For over six decades of existence, People’s General Insurance Corporation takes pride in providing Filipinos the best products and services in non-life insurance catering to individuals, micro, small and medium enterprises, and local and international private corporate entities. Under the guidelines set forth by the Insurance Commission, People’s General Insurance Corporation is committed in serving the growing needs of the Philippine insuring market and aims to contribute to nation-building and further help the country’s expanding economy.
Mercantile Insurance Company, which began as an insurance agency in 1961, is turning 51 years old today. And amid challenging times in the industry due to the steep capitalization requirements and growing competition, it decided to stick to its core value of frugality and simplicity in celebrating a milestone in its history.
Technomancer