Simon Poon Agency - Product & Service (Obsolete)

Simon Poon Agency - Product & Service

We are capable of providing insurance services from Property, Casualty, Liability, Health, to all individuals and registered company in Malaysia.

Accident And Health

Foreign Worker                                                                 Foreign Workers Compensation Scheme (20 >) 

Foreign Workers Insurance Guarantee (20 and above)


Personal Accident & Health
AcciGuard, Senior Care, Ace CritiCash, Hospital Aid.

 

Group Health & P. Accident
                                                                                                 Group Personal Accident & Health
Ace Group PA, Group H & S, Other Group PA
                                                                                                  Voluntary Employees Benefits
Personal Accident, Critical Illness , Hospital Income


Casualty

 

Product liability                                

To indemnify against insured's legal liability to pay compensation (damages) for accidental bodily injury or property damage sustained by third party arising out of products sold or supplied by insured. In addition to such compensation, it also pays for legal costs and expenses in connection therewith. The limit of indemnity is inclusive of legal costs and expenses.

Basis of Indemnity
Our Product Liability policy is on ''Claims Made'' basis. It means that this policy will only cover claim made against insured during the policy period. ''Claim made'' means a written claim/demand issued or lawsuit instituted by third party seeking damages for his injury or damage.



Product recall expense cover

Comprehensive general liability
  • To indemnify against insured's legal liability to pay compensation (damages) for accidental bodily injury or property damage sustained by third party arising out of performing contract works by insured. In addition to such compensation, it also pays for legal costs and expenses in connection therewith. The Limit of Indemnity is inclusive of legal costs and expenses.
    Basis of Indemnity
    CGL policy is on ''Claims Occurrence'' basis. It means that this policy will apply to bodily injury or property damage sustained by third party during the Policy Period.
    Principal Exclusions

  • Workmen Compensation and Employers' Liability Liability for damaging property worked upon or property  in the Insured's care, custody or control
  • Liability due to sole negligence of Principal or indemnities
  • Liability arising out of ownership, use or operation of   watercraft
  • Aviation liability
  • Professional liability
  • Asbestos liability                                                               

  • Employers Liability                                                                      All employees earning salary/wages of RM 2,000 or less a month are required to be insured under the Social Security Act 1969.Such employee in the event of an accident arising in the course of employment can only claim benefits provided under the SOCSO Act. They are debarred from suing the employer under Common Law. The employees however can sue their fellow employees for negligence under the Common Law.Employee earning above RM 2,000 per month are not required to be covered by SOCSO (unless they have been covered by SOCSO when they were earning less than RM2, 000).
  • Such employees in the event of an accident arising in the course of employment can sue their employer for negligence under the Common Law.   
  • Excess liability policy
  • PublicLiability                                                                                The Public Liability policy is designed to protect the Insured in respect of his legal liability to pay compensation for accidental bodily injury to or accidental damage to the property of members of the public caused by or through the negligence of the Insured or his employees or by defects in the premises and includes legal charges and expenses. All firms and business enterprises have a need for this cover and it is important that the proposer selects an adequate limit as substantial claims can arise. The position should be fully explained to all proposers, especially those requesting limits which are obviously not adequate.        However, it is prudent to let the proposer select the amount himself and we should not volunteer any amount in order to avoid the possibility of professional negligence.

 Business and Personal Insurance Solution Brochure



Life & Health
 
 
 
 
 
 
 
 
 
 





 
 
 
 

                                                                                 Liability


Directors And Officers Liability
To pay on behalf of the insured company the loss arising out of any claim made against insured person(s) for any wrongful act committed in their respective capacities as directors or officers of the insured company but only when and to the extent that such company is permitted or required by law to indemnify them for such loss.The aforesaid two coverage sections are in fact complementary. If director(s) or officer(s) incur liability in the course of performing their duties and their company is required and permitted by law to indemnify them, this policy will make the required indemnification on behalf of the company under the Company Reimbursement Coverage section. On the other hand, if the company is disallowed to or cannot make such indemnification, the policy will provide direct coverage for the directors or officers under the Coverage for the Directors and Officers section.
(Click title for more information on this class of coverage)



Freight Forwarder's Liability
Freight forwarder Liability provide cover to Freight Forwarder's /Bailees Warehouse toward client's who insured all the goods themselves and during loss their insurer are seeking liability from you under subrogation arising out negligence, error & omissions while in the course of dealing with their goods for transportation. 
Kindly refer to page underneath for a concise Presentation
titled as "Freight Forwarder Liability GIT presentation [Compatibility Mode].pdf 742k - on Dec 18, 2008 9:22 AM by Lim Su Lin (version 3) "


Professional Indemnity

To indemnify against insured's legal liability to compensate for loss sustained by third party as a result of act of negligence, error or omission committed by insured in the course of conducting his/her profession. Additional coverage to pay legal costs and expenses in the connection therewith. Limit of indemnity is inclusive of legal cost and expenses.

 
Property


Burglary
The policy cover loss or damages to  property insured by Theft whilst contain in the Business or Trade premises.
Risk can be arrange on 1st Loss Basis, Full Value, Declaration basis which is appropriate according to business risk and exposures



Contractor All Risk
Provides protection against loss or damage in respect of the contract works at contract site and third party claims arising in connection with the construction of a project.
Road Building, Electrical, Building, Renovation, Maintenance Contractor, Infrastructural
.


Erection All Risk
Provides insurance coverage in the erection of machinery, plant and steel structures of any kind as well as third party claims arising in connection with the installation works of the project. The coverage commences from the unloading of items insured to erection work and until test operation has been completed excluding used/second-hand machines where cover ceases upon commencement of testing/commissioning. Offers protection against all risks involved Machinery & Equipment, Plant & Machinery
.


Fire and related Perils (Additional Cover)
Covering fire, lightning, domestic gas cylinder explosion, aircraft damage, floods, impact damages and such perils permitted under the PIAM Revised Fire Tarifff (RFT).


Fidelity Guarantee
This class of insurance is meant to protect an employer against infidelity i.e. dishonesty ofan employee. In the normal course of  business transaction an employer invariably has to entrust money, securities, goods etc. to his employee and if the employee is dishonest, the employer will suffer financial loss.
Examples of infidelity
Theft, Misappropriation of funds, false conversion of money or stock or forgery.


Money
The policy is intended to protect any business establishment against loss of money by any caused whatsoever which may be carried by any authorized employee of the insured or whilst kept in the Insured's premises. However, in view of the hazards involved, especially moral, care must be taken in canvassing and selecting risks.

Marine Cargo (Hull Excluded)

Voyage Policy, Open Cover, Inland Transit, Declaration Basis
Marine insurance that involves trading is international in character. It can be affected by either the buyer or seller. It will tend to be purchased in the market who offered the most competitive rates and terms. The trading terms or contract commonly known as INCOTERMS, defines who is responsible for purchasing insurance.


SelectionFile type iconFile nameDescriptionSizeRevisionTimeUser
Comments