Business Liability
Liability insurance provides protection to insured in various legal situations. This insurance is specifically for protection against Individual or Professional mishaps. Situations where insured are called to the courts of law due to acts they themselves, their family members or their employees could have done negligently or otherwise and which may have caused bodily injuries or deaths to other people or damage to property of others.Public Liability
Individuals and business establishments can be subjects of third party legal liability due to acts of negligence caused by them, their families or employees. As such legal liabilities can turn into expensive court battles, it is often in their best interests to opt for insurance protection. Even products that are defective, which can cause bodily injuries or death, is often the cause of the legal liability.
We offer Public and Product Liability Insurance protection to our customers by providing indemnity to third party due to the Legal liability of the Insured resulting from negligence of the insured or his employees/family members causing:
- Accidental bodily injury and/or death
- Accidental damage to property (excluding property belonging to/in the custody of/under the control of the Insured, family members or employees)
In addition, we also provide:
Legal expenses for defending any proceedings with the Insurer's consent.
Medical Malpractice
If Medical Mal Practice occurs, Medical professionals can be subject to various judicial processes. For this reason, more and more Doctors and other medical professionals are looking for insurance covers to protect their rights as individuals or as groups through Hospitals, Clinics and other medical service centers.
At Trust Yemen Insurance and Reinsurance Co. We offer coverage that indemnifies the Assured against all sums where the assured shall become legally liable to pay damages arising out of any bodily injury, mental injury, illness, disease or death of any patient caused by and negligent act error or omission committed by the Assured in or about the conduct of the Assured's occupation or business.
The rate chargeable is always applied on the basis of the limit of indemnity requested and the turnover of the insured, type of medical services offered and the number and type of Professionals available. There is a Deductible for each and every loss in addition to a number of other Conditions.
Workmen’s Compensation
Workers are an irreplaceable investment to any organization. Providing protection for the employees is a matter not only of protecting the organizational asset but also of moral importance. Governments across the world enforce the issue of providing not only good working environments but also protection to the workers for the uncertainties. YEMEN also enforces this issue and endorses it by having specific laws to cater for and deal with workers accidental disputes.
At Trust Yemen Insurance and Reinsurance Company, we offer workmen's Compensation Policy which will indemnify your Company against all sums for which your company will be liable under the Yemeni Labor Law No. 5 of 1995 and subsequent amendments to pay compensation to any employee in your immediate service due to accident arising out of and in the course of his employment.
Some of the standard extensions to this insurance are:
Employer's Liability up USD 100,000 any one accident &/or in the aggregate (Higher limits can be requested at additional premium).
The rate chargeable is always applied on the Estimated Annual Wages of the employees, which is adjusted at the end of the policy period. This is very dependent to the nature of work, risk involved cover/extensions requested. There is a day Deductible and various Conditions attached to the policy
Professional Indemnity
Professionals like Engineering and other Consultants can often be exposed to legal suits due to acts of negligence in their profession. Court cases against consultants in various fields have resulted in the awarding of huge sums of monies to claimants. In view of which such professionals revert back to insurance companies for protection against legal battles.
Trust Yemen offers the Professional Indemnity Policy which indemnifies the Insured in respect of the Insured's legal liabilities for any Third Party Claim which meets the following requirements:
Any third party claim must:
- for compensatory damages, such indemnity to include claimant's cost and approved defence costs and expenses.
- Be first made against the Insured during the policy period.
- Be for bodily injury, material damage or construction damage arising from a negligent act, error or omission committed or alleged to have been committed or omitted (as the case may be) by the Insured during the policy period.
- Arise out of the ordinary course of the performance of professional services by the insured.
- Relate to a negligent act, negligent error or negligent omission which was or may have been or is alleged to have been committed or omitted (as the case may be). The rate chargeable is always applied on basis on the limit of indemnity, turn over and the type of activities in which the insured is involved and is very dependent to the nature of works, risks and exposure involved. There is a Deductible for each and every loss in number of other Conditions.