Insurance Policy: LEARNING INSTITUTIONS INSURANCE PACKAGE Policy Summary Verge Insurance Brokers has designed an insurance package aimed at covering the various risks a learning institution is exposed to. The features of this package are as follows:
a) SECTION ONE: STUDENTS PERSONAL ACCIDENT
This is a special tailor made Personal accident insurance covering students for medical expenses following an accident. In addition, it provides cover against death, loss of limbs, sight, and hearing and such other permanent total or permanent partial disablement arising out of any accident. OPTIONS BENEFIT I II III IV Medical expenses 150,000 100,000 75,000 50,000 Permanent total Disablement 300,000 200,000 100,000 75,000 Death 100,000 100,000 75,000 50,000 Artificial limb(s) 100,000 75,000 50,000 25,000 Dental (Following Accident) 15,000 15,000 15,000 15,000 Last expense 25,000 25,000 25,000 25,000
GPA- TEACHERS/NON-TEACHING STAFF
OPTIONS BENEFIT A B C D
Death 1,000,000 750,000 500,000 250,000
Permanent total Disablement 1,000,000 750,000 500,000 250,000
Temporary Total Disablement 10,000 7,500 5,000 2,500
Medical expenses 200,000 150,000 100,000 50,000
b) SECTION TWO: FIRE & SPECIAL PERILS
Provides cover for buildings, contents, machinery and stock against Fire, Explosion, Lightening, Earthquake, Riot and Strike, Malicious Damage, storm, flood and miscellaneous perils.
c) SECTION THREE: BURGLARY
This section covers loss of or damage to the property insured caused by theft involving entry or exit from the premises by forcible and violent means including Hold Up or theft accompanied by assault or violence or threat of it to the insured or employees of the insured.
d) SECTION FOUR: ELECTRONIC EQUIPMENT
Provides cover for actual repair/ or replacement cost following loss or damage to the computer arising from any accidental cause.
e) SECTION FIVE: PUBLIC LIABILITY
This section provides cover to the client against legal liability to third parties for damages in respect of accidental bodily injury or damage to property in course of or in connection with the insureds business.
f) SECTION SIX: CASH IN TRANSIT
This section covers loss of money arising out of any cause and loss or damage to any safe or strong room specified in the schedule. Under this section the following is covered; Cash In Transit Cash In premises during working hours Cash in premises outside business hours Cash In hands on Directors/ Principle Damage to safe Estimated Annual Carry
g) SECTION SEVEN: FIDELITY GUARANTEE
This section Provides cover against fraud or dishonest committed by ones employees.
h) SECTION EIGHT: WORKERS INJURY BENEFITS COVER
This is a compulsory cover that compensates employees for work related injuries and diseases contacted in course of their employment and for connected purposes. Benefits: Death : 96 months earnings Permanent Total Disablement : 96 months earnings Temporary Total/ Partial Disablement : Actual weekly earnings up to 52 weeks Medical : Ksh.100, 000/- Funeral Benefit : Ksh.30, 000/- Cover Limits: Any One Person : 4,000,000/- Any One Occurrence : 25,000,000/- Any One Year : 50,000,000/-
Please note that Section One can be taken up as a standalone policy. However any other sections must be taken together with Section Two.