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Business Protection insurance

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  • Provides cover for unforeseen losses or accidents
  • Customised benefits to fit your specific business needs
  • Get a quote in one easy phone call.

How it works

You start your policy with Business Assets cover. Once you have this cover you can choose to add other covers such as:


Business Assets

  • Covers assets such as buildings, tools, plant, machinery, contents and stock
  • Cover for your employees’ personal effects
  • Choice of cover to suit your business needs.

Benefits

Assets in transit

Assets in transit


Covers you for up to Vt500,000 for your business assets temporarily situated at other premises or in transit.
Additions or Improvements

Additions and improvements


Covers you for up to Vt500,000 for any additions or improvements to your building or plant.
Fire extinguishers

Fire extinguishers


Covers you for up to Vt400,000 for the cost of refilling your extinguishers used to put out fires at your premises.
Removal of business assets

Removal of business assets


Provides cover for up to Vt500,000 for the cost of removal and temporary protection of your business assets.
Changing locks and keys

Changing locks and keys


Up to Vt75,000 cover to replace keys and locks if they are stolen – helping relieve any burglary worries.
Other contents

Other contents


Covers you for up to Vt20,000 per employee for loss or damage to their personal effects.
Electric motor burn-out

Electric motor burn-out


Provides up to Vt75,000 of cover for electric currents burning out electric motors under 4hp.

Optional benefits

Optional Benefit

Flood


Provides cover for loss and damage due to flooding. (Special conditions apply).
Optional Benefit

Gale, windstorm, hurricane, cyclone


Provides cover for loss and damage due to gale, windstorm, hurricane or cyclone. (Special conditions apply).
List of Approved Engineers to issue Cyclone Engineers Certificates (PDF, 226kb)

Your choice of cover

You have the option to cover your Business Assets for Replacement value (the maximum amount of insurance protection) or Indemnity value (taking depreciation into account). This is important when it comes to claims.

Replacement value on buildings where we cover the cost of rebuilding, replacing or repairing your building to a new condition – up to a maximum of the sum insured.

Replacement value of plant where we cover the replacement or repair cost of your plant (other than motors) less than five years old.

Or

Indemnity value on buildings which is more limited and means we cover the cost of rebuilding or repairing your building to a condition no better than new, less an appropriate allowance for depreciation and deferred maintenance – up to a maximum of the sum insured.

Indemnity value of plant which covers costs to rebuild or repair your plant to a condition no better than new, less an appropriate allowance for depreciation (and some other factors) up to a maximum of the sum insured.


Business Income

  • Cover for financial loss if your business is interrupted
  • Insurance to keep you in business while other insurance helps repair damage.

Benefits

Loss of deposit

Loss of business income


Covers you against loss due to the loss or damage of a leased or rented business asset.
Accountant’s fees

Accountant’s fees


Provides up to Vt250,000 of cover for accountant’s fees for claim preparation expenses when a claim had been accepted.
Record keeping

Record keeping


Offers up to Vt400,000 of cover for the additional or increased cost of working or rewriting your records.
Prevention of access

Prevention of access


Provides cover for loss of business income if your customers are prevented from being at your place of business due to fire anywhere in Vanuatu.
Supplier premises

Supplier premises


Provides cover for loss of business income if your supplier’s premise suffers loss or damage by fire anywhere in Vanuatu.
Public utilities

Public utilities


Provides cover for loss of business income resulting from interruption or interference to your business due to damage by fire occurring at any electric power station or sub-station anywhere in Vanuatu.
Underground services failure

Underground services failure


Provides cover for loss of business income resulting from the failure of waste disposal systems and underground services situated on or immediately adjacent to your premises.

Money

  • Covers you against the loss or damage of cash and certain valuables.

Benefits

Loss of damage cover

Loss or damage cover


Covers the loss or damage of cash, credit cards and other negotiable securities during normal business hours at your premises, in transit to or from your business to your bank’s night safe, contained in an approved security locked safe at your premises outside business hours, or in your personal custody at your home until the next day’s banking hours.
Tick

Safes and strongrooms


Provides up to Vt200,000 of cover for loss or damage to your safes or strongrooms caused by burglars.

Burglary

  • Provides cover to replace stolen keys and locks
  • Cover for loss or damage to both business and employee property.

Benefits

Employee’s personal effects

Employee’s personal effects


Covers you for up to Vt20,000 per employee for loss or damage to their personal effects.
Temporary Removal

Temporary Removal


Provides cover for loss or damage to your business assets arising from burglary when they are removed temporarily, elsewhere in Vanuatu, for cleaning, repair, renovation, display or promotional purposes.

Business Liability

  • Covers your legal liability as a result of loss or damage to others’ property, injury, death or illness arising from accidents in connection with your business anywhere in Vanuatu
  • Provides cover for products exported to Australia, New Zealand and some South Pacific islands.

Benefits

Overseas visits

Overseas visits


Covers your business following overseas business trips by you or your employees.
Goods products

Goods products


Provides cover for the liability of your business in connection with products exported to Australia, New Zealand or the Pacific islands.
Social activities

Social activities


Provides cover for the liability of your business arising from social events organised by you.

Optional benefits

Optional Benefit

Bailee liability


Provides cover for the legal liability of your business as Bailee for goods in your physical and legal control.
Optional Benefit

Service and repair liability


Provides cover for the legal liability arising from work performed by you or your employees on any motor vehicle, or watercraft less than 5 metres in length, not owned by you or your employees.

Business Assets Breakdown

  • Covers plant and machinery breakdown
  • Offers replacement or repair for plant damaged from mechanical or electrical breakdown.

Unless plant and machinery breakdowns are covered by a warranty or service contract, their breakdown can cause absolute turmoil.

This option protects you for the replacement value or repair costs up to Vt400,000 for plant damage as a result of machinery or electrical breakdown.

Benefits

Temporary replacement

Temporary replacement


Covers your business following overseas business Offers up to Vt40,000 to hire a temporary replacement motor or refrigerant compressor while repairs are being completed.
Computer records

Computer records


Offers up to Vt170,000 towards costs to reconstruct computer records and programmes.

Optional benefits

Optional Benefit

Spoilage of stock


Offers up to Vt170,000 for the spoilage of your stock due to mechanical or electrical breakdown.

Workmen’s Compensation

  • Covers the liability of your business in relation to injury suffered by or death of an employee.

We will pay compensation you are liable for under the Workmen’s Compensation Act to any person employed by you.

Benefits

Optional Benefit

Common law


Offers cover for up to Vt8,640,000 of your legal liability for damages including costs and expenses related to bodily injury or death of an employee during an accident while in your employment.

Important: This is a summary only. For a full outline of the policy terms, conditions and exclusions please read the policy wording (below) and the certificate of insurance.

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