Business insurance solutions to protect your business and employees
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Insurance plan
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Details
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| Marine cargo insurance |
Protects goods in transit by sea, air or land against loss of or damage caused by a wide range of perils |
| Fire insurance |
Safeguards buildings owned by the business and their contents such as machinery, equipment, stock and furniture against damages caused by fire and/or lightning |
| Burglary insurance |
Provides cover against theft of property such as stock-in-trade, office equipment, furniture, fixtures, fittings and more |
| All risk insurance |
Provides cover for commercial property such as office furniture, fixtures and fittings. However, building and stock-in-trade are strictly prohibited |
| Machinery and equipment insurance |
Provides cover for static machines or equipment for industrial use. However, building and stock-in-trade are strictly prohibited |
| Equipment insurance |
Provides cover for mobile equipment that is not licensed for road use such as forklifts, excavators, mobile cranes and tractors |
| Foreign worker insurance guarantee |
Required by the Immigration Department under regulation 21 of the Immigration Regulations from employers as a security deposit for the employment of foreign workers in various sectors. In the event that any of the foreign workman(men) is/are to be repatriated to their home country, this insurance serves as a guarantee to the director general of Immigration Department up to the maximum aggregate sum of the guarantee value. The insurance guarantee offered under this scheme does not include foreign maids |
| Foreign Worker Compensation Scheme (FWCS) |
Provides protection to all your foreign workers required by section 26(2) of the Amended Act 1996 of Workmen’s Compensation Act 1952 |
| Foreign Worker Hospitalization and Surgical Insurance Scheme (SKHPPA) |
A yearly renewable hospital and surgical insurance scheme designed to reduce the financial burden of the employer of foreign workers in the event of hospital admission of their foreign workers to a non-corporatized Malaysian government hospital due to an accident or illness |
| Group personal accident insurance |
Provides coverage for accidental death or bodily injury and/or medical expenses of your employees, on a 24-hour worldwide basis |
Life insurance solutions to protect your key man and ensure business continuity
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Insurance plan
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Details
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| Insurance for your key man |
Covers the company against financial losses when it loses a key person within the company. The insurance coverage will depend on the type of insurance selected for their key man: life insurance, medical and health insurance, or personal accident insurance |
| BIL Assist Plan insurance (BAP) / Medical and health insurance (MHI) |
Ensures your outstanding business instalment loan with the Bank (up to the maximum loan amount as specified in the Certificate of Insurance) is taken care of in the cases of accidental death, permanent disablement, Involuntary unemployment and critical illness |
| Commercial Assist Plan insurance (CAP) / Medical health insurance (MHI) |
Ensures your outstanding business mortgage loan with the Bank (up to the maximum loan amount as specified in the Certificate of Insurance) is taken care of in the cases of accidental death, permanent disablement, Involuntary unemployment and critical illness |
| Public liability insurance |
Provides indemnity to you, up to the limit of liability, against all sums which you may become legally liable to third party due to accidents arising from the course of business occurring within territorial limits |
| Workmen’s compensation insurance |
Provides indemnity to you in respect of your liability to pay compensation to employees under Common Law or the Workmen’s Compensation Act 1952 (Act 273) and its subsequent amendments, for death or injury at work |
| Employer’s liability insurance |
Provides and indemnifies you against legal liability in respect of any bodily injury or disease by accident sustained by your employees caused during the period of insurance and arising out of and in the course of employment by you in the business |
