Business Comprehensive
Insurance Plan
Business
Comprehensive Insurance Plan - Multi-dimensional Insurance Cover for Business
Choosing a desirable insurance package is crucial for your
business planning. Bank of China Group Insurance Company Limited (“BOCG Insurance”)
truly understands your need and is pleased to present the professional all-in-one “Business
Comprehensive Insurance Plan” to you. The plan suits both office and shops1
and protects your business against “All Risks” at competitive price.
Apart from providing a full range of basic coverage for contents
and equipment, business interruption, loss of money, personal accident,
public liability and fidelity guarantee, optional coverages including employees’
compensation, buildings (fire) and stock protection are also available for your
choice. With this flexible and comprehensive protection, you can free yourself
for the unexpected hassles and totally concentrate on business development.
Basic Coverage
|
Item
|
Scope of Coverage
|
Maximum Limit of Indemnity
(HK$)
|
|
Plan 1
|
Plan 2
|
Plan 3
|
|
1.
|
Contents
and Equipment2
|
500,000
/year/event
|
1,000,000
/year/event
|
1,500,000
/year/event
|
|
|
1.1.
|
Furniture, fixture, fittings and utensil, equipment, electrical
appliance, machinery or interior decorations
|
100,000/item
|
|
|
1.2.
|
Stock and samples of general merchandise3(If the Maximum Limit of
Indemnity in this item is insufficient, you can determine own cover limit for
stock under the Optional Coverage)
|
500,000/event
(35,000/item)
|
600,000/event
(35,000/item)
|
750,000/event
(35,000/item)
|
|
|
1.3.
|
Material costs of computer systems’ records, and clerical labour
costs for reproducing such records4
|
100,000/event
(5,000/item)
|
100,000/event
(10,000/item)
|
100,000/event
(15,000/item)
|
|
|
1.4.
|
Any document, map, deed, tape, file, etc.4
|
25,000/event
(4,000/item)
|
25,000/event
(5,000/item)
|
25,000/event
(6,000/item)
|
|
|
1.5.
|
Personal effects and valuables of Insured, directors, partners
or employees
|
8,000/event
(4,000/person)
|
10,000/event
(5,000/person)
|
12,000/event
(6,000/person)
|
|
|
1.6.
|
Works of arts
|
15,000/year
(5,000/item)
|
20,000/year
(5,000/item)
|
25,000/year
(5,000/item)
|
|
|
1.7.
|
Seasonal increase in sum insured for stock from 1 November to 1
March for free
|
Maximum Limit of Indemnity increased
by 30%
|
|
|
Free Extension Coverage:
|
|
|
|
A.
|
Damage to business premises due to theft or attempted theft
|
50,000/event
|
100,000/event
|
150,000/event
|
|
|
B.
|
Loss of or damage to contents that have been temporarily removed
from office or shop for cleaning, renovation, repair or similar purpose
|
10% of Maximum Limit of Indemnity for
“Contents & Equipment”/event
|
|
|
C.
|
Damage
to fixed mirror or glass
|
20,000/event
|
|
|
D.
|
Removal
of debris
|
10% of Maximum Limit of Indemnity for
“Contents & Equipment”/year
|
|
|
E.
|
Fire
extinguishing expenses
|
40,000/year/event
|
50,000/year/event
|
60,000/year/event
|
|
|
F.
|
Architects',
surveyors' and consulting engineers' fees
|
5,000/event
|
|
|
G.
|
Damage to office or shop’s contents and stock during lawful alterations, decoration or repair
|
Maximum Limit of Indemnity for “Contents & Equipment”/year
(value of contractor works not
to exceed the total of 250,000 each contract)
|
Maximum Limit of Indemnity for “Contents & Equipment”/year
(value of contractor works not
to exceed the total of 500,000 each contract)
|
Maximum Limit of Indemnity for “Contents & Equipment”/year
(value of contractor works not
to exceed the total of 750,000 each contract)
|
|
|
H.
|
Damage to advertising signs or decorations (this coverage is
only applicable to Insured as shop)
|
20,000/year
(10,000/event)
|
30,000/year
(15,000/event)
|
40,000/year
(20,000/event)
|
|
|
I.
|
Replacement of locks
|
5,000/year
|
10,000/year
|
15,000/year
|
|
|
J.
|
Loss of or damage to stock in transit
|
30,000/year
|
50,000/year
|
75,000/year
|
|
|
K.
|
Loss of or damage to document in transit
|
4,000/year
|
5,000/year
|
6,000/year
|
|
2.
|
Business Interruption
|
500,000/year
|
1,000,000/year
|
1,500,000/year
|
|
|
Cover the additional expenses incurred to reinstate the normal
conduct of office or shop in consequence of damage to property insured under
Basic Coverage - item 1 (maximum indemnity period: 12 months)
|
|
|
|
|
|
Free Extension Coverage:
|
|
|
|
A.
|
Professional accountants’ charges – the professional accountants’
charges incurred for investigation and verification of claims
|
50,000/year
|
|
|
B.
|
Denial of access - interruption of business as a result of
denial of access to the office or shop for more than 48 consecutive hours due to damage to neighboring
property
|
Maximum Limit of Indemnity for “Business Interruption” /year
|
|
|
C.
|
Failure of public utilities - interruption of business as a result
of failure of public utilities for more than 48 consecutive hours
|
Maximum Limit of Indemnity for “Business Interruption” /year
|
|
|
D.
|
Loss of profit – protect against loss of profit incurred
following insured damage to the contents and equipment. The maximum indemnity period is 6 months
and the time excess is 48 hours.
|
30% of Maximum Limit of Indemnity for
“Business Interruption” /event
|
|
3.
|
Loss of Money
|
|
|
|
3.1. Accidental loss of money including
loss of crossed cheques, crossed postal orders, crossed bankers’ drafts and
credit card sales vouchers
|
300,000/event
|
500,000/event
|
750,000/event
|
|
|
3.2. Other than item 3.1 above, this section
provides loss of money protection as below:
|
|
|
|
|
(i) Accidental loss of money at the office or shop during
business hours
|
40,000/event
|
50,000/event
|
60,000/event
|
|
|
|
(ii) Accidental loss of money whilst in transit anywhere
in HKSAR in the custody of the Insured or authorized employees
|
40,000/event
|
50,000/event
|
60,000/event
|
|
|
|
(iii) Accidental loss of money in a bank night
safe
|
40,000/event
|
50,000/event
|
60,000/event
|
|
|
|
(iv) Accidental loss of money at the office or shop after business
hours which is kept in a locked safe or strongroom
|
40,000/event
|
50,000/event
|
60,000/event
|
|
|
|
(v) Accidental loss of money at the office or shop after business
hours which is not kept in a locked safe or strongroom
|
4,000/event
|
5,000/event
|
6,000/event
|
|
|
|
(vi) Accidental loss of money whilst at the residence of
directors, partners or authorized employees
|
2,000/event
|
2,500/event
|
3,000/event
|
|
|
Free Extension Coverage:
|
|
|
|
A.
|
Damage to safes or strongroom caused by
theft or attempted theft
|
40,000/event
|
50,000/event
|
60,000/event
|
|
|
B.
|
Loss caused by the acceptance of counterfeit money (applicable
to HK dollar & Renmenbi notes only)
|
15,000/event
|
|
4.
|
Personal Accident
|
200,000/event
(100,000/person)
|
300,000/event
(100,000/person)
|
|
|
Accidental death or permanent total disablement of the
directors, partners or employees as a result of theft or attempted theft in
the course of his duties in the office or shop (cover for insured person aged from 18 to 65 years old only)
|
|
5.
|
Public Liability5
|
5,000,000
/year/event
|
10,000,000
/year/event
|
15,000,000
/year/event
|
|
|
Protect the employers and/or the employees against legal
liability in respect of third party bodily injury / death or property damage
due to negligence happening in the office or shop in connection with business
|
|
|
Free Extension Coverage:
|
|
|
|
A.
|
Overseas commercial visits - legal liability for the directors,
partners and employees when traveling overseas for business
|
Maximum Limit of Indemnity for “Public Liability”/event
|
|
|
B.
|
Food and drink - legal liability for visitors suffering from
food poisoning arising from the provision of foods and drinks by the Insured
|
20% of Maximum Limit of Indemnity for
“Public Liability”/event
|
|
|
C.
|
Tenants liability – legal liability as tenant to the landlord against damage
to the rented office or shop
|
50% of Maximum Limit of Indemnity for
“Public Liability”/event
|
|
|
D.
|
Independent contractor's liability - legal liability for causing
third party bodily injury / death or property damage due to alteration or
addition to the
office or shop
|
Maximum Limit of Indemnity for “Public Liability”/ event
(value of contractor
works not to exceed the total of 250,000 each contract)
|
Maximum Limit of Indemnity for “Public Liability”/ event
(value of contractor
works not to exceed the total of 500,000 each contract)
|
Maximum Limit of Indemnity for “Public Liability”/ event
(value of contractor
works not to exceed the total of 750,000 each contract)
|
|
|
E.
|
Social, sports and welfare activities - legal liability for
provision and management of social, sports and welfare activities
|
Maximum Limit of Indemnity for “Public Liability”/event
|
|
|
F.
|
Advertising signs or decorations liability – legal liability caused by
the Insured’s advertising
signs or decorations (this
coverage is only applicable to Insured as shop)
|
Maximum Limit of Indemnity for “Public Liability”/event
|
|
6.
|
Fidelity Guarantee
|
15,000/year
|
20,000/year
|
25,000/year
|
|
|
Indemnify the insured against loss of money directly arising
from any fraud or dishonest act of the insured’s employees
|
|
|
|
|
Note:
|
1.
Shops：Means retail shops in general
such as, fashion, eyeglass, leather, shoes, bookstore, ironware, grocery,
sweets, medicine, toys model, sportswear, and the like category.
|
|
|
2.
Contents
and Equipment: Total
maximum amount payable shall not exceed the selected maximum limit of indemnity. Excess
for
2.1Office insured: the first HK$500 of each
claim (including theft) or the first HK$3,000 or 10% of loss results from
water damage (whichever is higher).
2.2 Shops insured: the first HK$1,000 of each
claim (including theft) or the first HK$3,000 or 10% of loss results from
water damage (whichever is higher).
|
|
|
3.
Stock and samples of general
merchandise: Exclude
high-value goods including but not limited to mobile phones, electronic
goods, video, audio and photographic equipment, precious metals & gems,
jewelry & watches, fur, edible bird’s nest, ginseng and the like goods.
|
|
|
4.
Computer systems’ records ; Any document, map, deed,
tape, file etc.: Coverage is limited to material, labour and time costs spent on
writing up or reproducing the lost or damaged items.
|
|
|
5.
Public
Liability:
Total maximum amount payable shall not exceed the selected maximum limit of
indemnity. Excess for Shop is the first HK$1,000 of each claim or the first
HK$3,000 or 10% of loss results from water damage (whichever is higher).
|
Optional Coverage
|
Item
|
Scope of Coverage
|
Maximum Limit of Indemnity
(HK$)
|
|
1.
|
Employees’ Compensation
|
100,000,000/event
|
|
|
Cover the legal liability as an employer under the Employees’
Compensation Ordinance or Common Law for the bodily injury or death of his /
her employees arising out of and in the course of the employment.
Extension Coverage:
A. Accidental bodily injury sustained
whilst the clerical and sales employees travel overseas for business purpose
(applicable to the employees insured under the wordwide cover only)
B. Accidental bodily injury sustained
whilst the employee is participating in social, sports and welfare activities
provided by the employer.
|
|
|
2.
|
Buildings (Fire)
|
as
per sum insured
|
|
|
Cover buildings of insured office or shop at which it is
situated against accidental physical loss of or damage due to fire, lightning,
earthquake, vehicle impact, typhoon, windstorm & flood, water tanks, apparatus
& pipes, explosion of boilers and gas used for domestic purposes, etc.
Excess: The first 3,000 of each and every claim due to earthquake,
vehicle impact and water damage.
|
|
|
3.
|
Stock
|
as
per sum insured
|
|
|
Increase the “Stock” coverage under Basic Coverage to ensure
adequate protection against loss of or damage to stock in the office or shop.
|
|
Premium
1. Basic Benefit (Annual premium HK$ - calculated
as per insured location)
|
|
Plan 1
|
Plan 2
|
Plan 3
|
|
Office
insured
|
1,150
|
2,000
|
2,700
|
|
Shops6insured
|
1,500
|
2,300
|
3,300
|
2. Optional Benefit (Annual premium rate)
|
|
Employees’ Compensation7
|
Buildings(Fire)8
|
Stock
|
|
Office
insured
|
i.
Clerical
staff：annual earnings x 0.2% (0.3%
for worldwide cover)
ii.
Private
car drivers：annual earnings x 0.3%
|
i. Shopping
mall or commercial buildings：0.07%
ii. Industrial buildings：0.1%
|
as
per sum insured x 0.2%
|
|
Shops
insured
|
i. Sales staff：annual earnings x 0.4% (0.5%
for worldwide cover)
ii. Sales staff (include cuttings and
operate small machine：annual
earnings x 1% (1.15%
for worldwide cover)
iii. Delivery worker & driver (exclude
to and from dock or construction site) : annual earnings x 0.5% (0.6% for
worldwide cover)
iv. Delivery worker & driver (include
to and from dock or construction site) : special quote
|
as per sum insured x 0.3%
|
Note：
6.
Exclude retail Shops
running the sales of gold, silver, jewellery, jade
stones, watches, audio or video equipment, computer equipment (except installed
with burglary alarm system), antiques, furs, ginseng, dried seafood, mobile
phones and the like goods.
7.
Government Levy,
Government Terrorism Facility Charge and Employees’ Compensation Insurer
Insolvency Bureau Contribution not yet included. Please refer to the proposal form for details of the charges.
8.
Applicable
to buildings within 40 years old only.
Automatic
Renewal
Once the application for insurance is accepted, the policy will be
automatically renewed each year. If Employees’ Compensation is covered,
employers shall supply BOCG Insurance with the actual earnings of all their
employees for the coming policy year 14 days before policy expiry (BOCG
Insurance reserves the right to obtain the relevant supporting documents from
the employers). No declaration of the actual earnings by the employers may
result in proportionate reduction in indemnity for compensable claims, and
employers will have to bear the proportionate share of indemnity for the
injured employees by themselves.
Simple
Enrollment
Application is simple and easy. Please visit
any branches / Commercial Units of Banks.
Notice
of Claim
l
For any
claims, the insured should send a written notice to BOCG Insurance at the
earliest possible time. The insured can call BOCG Insurance Hotline at (852)3187
5100 or download the claim form from the website. After completion of the form,
please send it back to the claims department for handling as soon as possible.
l
In case of
any claims under “Loss of Money” Section, the insured should report to the
police at the earliest possible time.
l
In case of
any claims under “Public Liability” Section or “Employees’ Compensation”
Section, the insured should submit writ, summons or other legal proceedings
issued to BOCG Insurance. The insured should not negotiate or admit any claims
without the written consent of BOCG Insurance.
Major Exclusion (For more details, please refer
to the policy)
War or act of terrorism；Confiscation, commandeering or requisition
of the Government；Nuclear
power and nuclear radiations；Consequential
loss or damage of any kind.
Remarks:
l
Insured
territory: HKSAR.
l
Other
protections: For
application of other benefit limit, occupation or work nature which is not
provided in this plan, please contact BOCG Insurance Hotline at (852)3187 5100,
BOCG Insurance can provide alternative quotes.
l
Minimum premium for
policy termination: If policy
is terminated during the period of insurance, each policy is subject to a
minimum charge of HK$500. If Employees’ Compensation optional coverage is also
insured, each policy is subject to a minimum charge of HK$1,000 (Government Levy, Government Terrorism
Facility Charge and Employees’ Compensation Insurer Insolvency Bureau
Contribution not yet included. Please refer to the proposal form for details of the charges).
Terms & conditions:
∙
This leaflet
is for reference only. Details of coverage are subject to the terms and
conditions stipulated in the policy.
∙
Bank of
China Group Insurance Company Limited reserves the right to amend or withhold
any terms and conditions without prior notice.
∙
Business
Comprehensive Insurance Plan is underwritten by Bank of China Group Insurance
Company Limited.
∙
Nanyang
Commercial Bank Limited is the agents of
Bank of China Group Insurance Company Limited.
Customer Service Hotline: (852) 3187 5100
Website: www.ncb.com.hk
|
Major
Agents:
Nanyang
Commercial Bank Limited and Branches
|
|
|