Fidelity United Business Insurance

With Fidelity United business insurance offerings, companies can safeguard themselves against various risks like property damage, legal issues, and employee-related risks. Fidelity Insurance UAE ensures that businesses can continue their operations smoothly despite potential setbacks.

Types of Fidelity Business Insurance

The key types of Fidelity Insurance for businesses in UAE are as follows -

1- Marine Insurance

What is Marine Insurance?

Fidelity United marine insurance covers businesses against the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred between the points of origin and the final destination. This Fidelity Insurance UAE  is important for businesses involved in shipping goods so that their property is protected throughout the journey.

Key Features and Benefits of Marine Insurance

1. Fidelity United marine insurance covers vessels, cargo, freight, and liability towards third parties.
2. Fidelity Insurance Dubai provides professional risk solutions with a dedicated team to assess and provide the necessary coverage.
3. The company offers a multi-level 24/7 helpline for assistance.
4. Fidelity marine insurance offers specialised policies for various needs, such as cargo insurance and hull insurance.

Types of Fidelity Insurance (Marine Insurance)

1- Marine Cargo Insurance

• Insures property as it moves from the factory to the final destination
• Covers cargo travelling by air, sea, or overland against risks of loss or damage
• Compensates for losses according to the terms of the Fidelity Insurance policy
• Provides coverage for various commodities, destinations, and modes of transportation
• Specific Fidelity Insurance coverage in marine insurance includes — 
  • Single transit cargo policy
  • Open cargo policy
  • Project cargo
  • Stock through goods
  • All-risk liability
  • Freight forwarders liability

2- Marine Hull Insurance

• This Fidelity Insurance policy provides coverage for ship damage expenses.
• The plan covers the main body of the ship (hull) and any fixtures attached as functional parts.
• Insures water-going vehicles against risks such as:
  • Destruction of hull
  • Machinery damage 
  • Displacement losses
  • Ship breaking losses
  • Fittings and hide
• This Fidelity Insurance UAE policy covers third-party liability for damage caused to other ships or boats and injuries to ship workers.
• General coverages include:
  • Hull and machinery
  • Protection and indemnity
  • Charterer’s liability insurance
  • Crew personnel coverage
  • Ship repairers liability
  • Port authorities and terminal operators

2. Yacht Insurance

What is Yacht Insurance?

Yacht insurance is a Fidelity Insurance policy that provides indemnity and liability coverage for pleasure boats. This policy covers the liabilities for bodily injuries or property damage to others as well as damage to personal property on the boat. Yacht insurance is essential for protecting your investment while enjoying your time on the water.

Key Features and Benefits of Yacht Insurance

1.  It Includes financial protection for various types of watercraft, such as pleasure crafts, motorboats, jet skis, yachts, and sailing boats.
2. This Fidelity United yacht insurance policy covers liabilities arising from bodily injuries or property damage to others.
3. In addition, it also insures personal belongings on the yacht against damage or loss.
4. Yacht insurance is suitable for both private pleasure use and commercial recreational purposes.
5. This type of Fidelity Insurance Dubai provides tailored solutions to meet the specific needs of different types of yachts and their uses.

3. Public Liability Insurance

What is Public Liability Insurance?

Public liability insurance provides protection against claims resulting from injuries or damages to people and property. It covers both legal costs and payouts for which the insurer is responsible if the insured party is found legally liable. 

This type of Fidelity Insurance Dubai is important for those who may be held legally responsible for injuries to others such as medical practitioners or business owners. 

Key Coverages of Public Liability Insurance

1. Public liability insurance provides coverage against claims for bodily injuries or property damage caused to third parties.
2. It includes legal fees and expenses incurred in defending a claim made against the insured.
3. The public liability plan by Fidelity Insurance Dubai covers damages or injuries to any person except those not employed by or acting for the insured or their subcontractors.
4. It pays for costs and expenses involved in defending any claim made against the insured.
5. This Fidelity Insurance policy may specify limits per claim, per event, or for the entire period of insurance.
6. Intentional damage and contractual liability are generally not covered under Fidelity United public liability policies.

4. Workmen’s Compensation Insurance

What is Workmen’s Compensation?

Workmen’s Compensation, also known as Workman Compensation Policy, is one of the types of  Fidelity Insurance that covers medical costs and a percentage of lost wages if an employee is unable to work due to an illness or injury sustained on the job. This policy provides compensation as per the labour laws of the jurisdiction agreed upon in the policy. The types of illness and injury covered can vary depending on the insurer. 

Key Coverages of Workmen’s Compensation

• Accident and Injury Protection: Covers your staff against accidents or injuries sustained while performing their job duties.
• Medical Expense Coverage: This Fidelity Insurance Dubai policy ensures that employees are financially protected against expensive medical bills resulting from work-related injuries or illnesses.
• Loss of Earnings Compensation: It provides a percentage of the employee's lost wages if they are unable to work due to a job-related illness or injury.

5. Professional Indemnity Insurance

What is Professional Indemnity Insurance?

Professional Indemnity Insurance (PII) covers professionals — architects, engineers, doctors, lawyers, chartered accountants, medical practitioners, and more — from legal claims arising from errors, omissions, or professional negligence. Professional Indemnity Insurance safeguards both your assets and your reputation if a claim is made against you.

Key Features and Benefits of Professional Indemnity Insurance

• Tailored for Professionals: This Fidelity business insurance plan is for individuals who provide advice or intellectual services to their clients.
• Legal Cost Coverage: It protects against legal costs incurred in defending against claims of negligence, errors, or omissions.
• Damage Claims Protection: The policy covers claims for damages made by third parties resulting from professional mistakes.
• Omission or Breach of Duty: Coverage is provided if a professional duty is breached during the course of your business activities.
• Asset and Reputation Protection: The plan safeguards both your financial assets and professional reputation in the event of a claim.
• Wide Range of Professions Covered: This Fidelity Insurance policy is available for various professionals including medical practitioners, consultants, and legal advisors.

6. Engineering Insurance

What is Engineering Insurance?

Engineering insurance provides economic safeguards against risks faced by ongoing construction projects, installation projects, and machinery and equipment during project operations. 

This type of Fidelity Insurance Dubai is for businesses involved in construction and production as it offers specialised coverage for various machines and equipment operating in production units. It helps minimise financial losses due to unforeseen events that can disrupt projects and operations.

Key Features and Benefits of Engineering Insurance

1. Engineering insurance is a cost-effective solution tailored to specific engineering needs.
2. It provides expert risk assessment and coverage for engineering projects.
3. The engineering insurance plan by Fidelity United offers specialised teams to support policyholders and assess risks accurately.

Types of Fidelity Insurance (Engineering Insurance)

1- Electronic Equipment Insurance

• Coverage: Includes computer systems, peripherals, and auxiliary equipment susceptible to damage or breakdown
• Protection: Covers sudden and unforeseen physical loss or damage, necessary repair or replacement, electrical faults, machine damage, impact damage, and fire
• Expenses: High charges, transport charges, data recovery, and personnel expenses are included in the Fidelity insurance coverage here
• Items Covered: Data processing equipment, electronic medical equipment, telecommunication and navigation equipment, production plant computer systems, signal and transmitting units, research and material testing equipment

2- Machinery Breakdown Insurance

• Coverage: Financially protects against sudden and unforeseen physical loss or damage to insured machines while at work or rest, during cleaning, inspection, overhauling, or relocation
• Items Covered: Electrical equipment, alternators, generators, mechanical pumps, engines, turbines, and more
• Causes Covered: Short circuits, faulty design, material defects, construction faults, operational faults, negligent acts, tearing apart due to centrifugal forces, failure of connected machinery, impact, and collision.
• Additional Coverage: This Fidelity United business plan can also include repair costs, freight charges, and expenses for employing personnel

3- Machinery Loss of Profits Insurance

• Coverage: Protects against actual loss of gross profit due to business disruption caused by events covered under machinery breakdown insurance
• Benefits: Covers loss of profits, continuing business operations, standing charges, and increased costs of working (additional necessary expenditures)

4- Deterioration of Stock Insurance

• Coverage: Protects against deterioration of goods in cold storage due to breakdown of refrigerating machinery
• Extension: The Fidelity United business insurance policy may cover deterioration due to failure of public power supply
• Risks Covered: Fall in cooling temperatures, sudden escape of refrigerant, incorrect composition of atmosphere, material damage to refrigeration plant, and more

5- Boiler and Pressure Vessel Insurance

• Coverage: Protects against damage to insured boilers and legal liability to third parties for bodily injury (fatal or non-fatal) and property damage
• Items Covered: Boilers and pressure vessels used in production and operations

6- Comprehensive Machinery Insurance

• Coverage: Comprehensive Fidelity insurance coverage against property damage and loss of profits for the entire plant and machinery in operation
• Items Covered: Plant machinery, buildings, stock, goods in process, and other property
• Purpose: Grants coverage for entire plants where engineering risks are prevalent, alongside industrial coverage for fire and extended perils

7. Erection All Risk Insurance

What is Erection All Risk Insurance?

Erection All Risk (EAR) insurance is a part of Fidelity United engineering insurance that covers the erection of electrical, mechanical, plant machinery, equipment, and software, usually involving minimal or no civil engineering work. It provides comprehensive protection for these items during installation, testing, commissioning, and handover to the owner. 

Key Features and Benefits of Erection All Risk Insurance

• Comprehensive Coverage: Protects against risks associated with the installation, testing, and commissioning of machinery and equipment
• Third-Party Liability: Covers legal liability for accidental damage to third-party property or injuries to third persons
• Repair or Replacement: For repair or replacement of damaged machinery or equipment
• Wide Range of Risks: This Fidelity Insurance UAE plan covers perils such as fire, theft, natural disasters, and accidental damage
• Legal Costs: Includes coverage for legal costs incurred by the insurer with the consent of the insured
• Project-Specific Coverage: Tailored to cover specific erection projects
• Extended Coverage Options: Can include extensions for additional risks like strikes, riots, and civil commotion
• Flexible Limits: Offers flexible policy limits to suit the specific needs of different projects
• Cost-Effective: Provides a cost-effective way to manage risks associated with erection projects

Coverages Provided by Erection All Risks Policy

1. EAR insurance covers a wide range of machinery and equipment used in erection projects. This Fidelity Insurance Dubai policy includes financial protection against damage or loss during installation, testing, and commissioning. 
2. The Fidelity Insurance policy also covers third-party liability arising from the execution of an erection project. This includes accidental damage to third-party property and bodily injuries (fatal or non-fatal) to third persons. 

The indemnity applies to legal costs recovered by a claimant and costs incurred by the insurer with the consent of the insured. 

8. Contractor’s Plant and Machinery Insurance

What is Contractor’s Plant and Machinery Insurance?

Contractor’s Plant and Machinery (CPM) insurance is a part of engineering insurance that covers plants and machinery used in construction activities. It confirms that equipment operating at full speed and capacity on project sites is protected against various risks. 

Additionally, CPM insurance provides comprehensive coverage for unforeseen accidents, physical loss, or damage due to external causes. This Fidelity Insurance UAE is essential for protecting construction equipment deployed at project sites from work accidents, collisions, overturning, fire, theft, burglary, and natural hazards such as earthquakes and floods.

Key Features and Benefits of Contractor’s Plant and Machinery Insurance

• Comprehensive Coverage: Protects against a wide range of risks, including accidents, natural hazards, and theft
• All-Risk Basis: Covers physical loss or damage due to external causes, excluding internal breakdowns
• Equipment Coverage: Insures machinery while dismantled, re-erected, or shifted within project premises after successful commissioning
• Extensive List of Covered Equipment: Includes concrete mixers, concrete pumps, road rollers, pavers, cranes, vibrators, and more
• Replacement Cost Coverage: The sum insured under this Fidelity business insurance policy is equivalent to the replacement cost of the machinery with new machinery of the same kind, including customs duties and transportation.
• Protection for High-Value Equipment: It is apt for costly construction equipment.

Coverage Under Contractors Plant and Machinery Insurance

1. Covers work accidents that can occur during construction activities
2. Protects against damage from collisions and overturning of machinery
3. Insures against fire damage to construction equipment
4. Covers theft or burglary of machinery from project sites
5. Includes coverage for natural disasters like earthquakes and floods
6. Covers machinery while it is dismantled, re-erected, or shifted within the project site
7. Concrete mixers, concrete pumps, road rollers, pavers, cranes, vibrators, drain blocks, pulley blocks, site power generating plants, mobile mixing plants, hoisting equipment, excavators, loaders, and bulldozers are some of the covered equipment under the Fidelity Insurance policy

9. Group Health Insurance

What is Group Health Insurance?

Group Health Insurance is a mandatory protection plan that covers health treatment expenses for employees due to sudden illness or accidents. This type of Fidelity Insurance Dubai can provide coverage through direct billing or reimbursement processes. 

Key Features and Benefits of Group Health Insurance

• Outpatient Cover: Begins with a referral from a general practitioner for consultations, diagnostic tests like blood tests, MRI scans, and X-rays, and more. If further treatment is required, the patient may be referred for inpatient care.
• Inpatient Cover: Involves admission to a hospital and occupying a bed overnight, generally for surgeries. Minor procedures may be performed on a day-patient basis without overnight stays.
• Customised Policies: These Fidelity business plans can be customised to include additional coverages such as dental, optical, and other treatment therapies like physiotherapy, osteopathy, chiropractic, acupuncture, and treatments for sports injuries.

Documents Required for Group Health Insurance

• Trade Licence
• Copy of Employee Details
• Insurance List
• Official Loss Ratio
• Current Terms of Business (TOB)
• Required Benefits
• Target Premium per Person

10. Property Insurance

What is Property Insurance?

Property insurance provides financial protection against major risks to property such as fire, theft, and weather damage. It includes specialised forms of insurance like fire insurance, flood insurance, earthquake insurance, home insurance, and boiler insurance. Property can be insured in two ways: open perils and named perils.

1. Open Perils: Covers all risks except those explicitly excluded
2. Named Perils: Covers only the risks specifically listed in the policy

Types of Fidelity Insurance (Property Insurance)

1- Fire and Lightning Perils

• Coverage: Protects against loss or damage caused by fire and lightning
• Type: Named peril policy — only covers specifically listed perils
• Benefits: Basic protection from unforeseen and physical damage due to fire and lightning

2- All-Risk Property Insurance

• Coverage: Provides protection against accidental physical loss or damage to specified items from any cause not explicitly excluded
• Type: Broader than named peril policies — lists exclusions rather than covered perils
• Benefits: Comprehensive Fidelity insurance coverage against theft or attempted theft, violent or forcible entry, and other risks not covered under named peril policies

3- Jeweller's Block Insurance

• Coverage: Offers all-risk coverage for jewellers, covering burglary, robbery, shoplifting, accidental damage, and more
• Type: All-risk coverage — covers all risks unless explicitly excluded
• Benefits: Protection for stock at the premises and items on consignment, in transit, at trade shows, and in personal residences
• Exclusions: Employee dishonesty, damage to goods being worked on, and unexplained loss. Note that several exclusions can be modified based on specific needs.

11. Business Interruption Insurance

What is Business Interruption Insurance?

Fidelity United business interruption insurance compensates for the loss of income that a business suffers after a disaster such as a fire. The income loss covered by this policy can result from the closure of the business facility due to the disaster or from the rebuilding process afterward.

Unlike property insurance, which covers physical damage to the business, business interruption insurance covers the profits that would have been earned. This type of Fidelity business insurance is not generally sold as a standalone policy but can be added to a business's property insurance plan, such as property or fire insurance. 

It only pays out if the cause of the income loss is covered by the property insurance policy.

Key Features and Benefits of Business Interruption Insurance

1. Income Protection: Covers the loss of income resulting from disaster-related closure or rebuilding
2. Coverage for Standard Charges: Includes fixed costs such as employee salaries, rent, utilities, and bank fees
3. Supplement to Property Insurance: Enhances existing property insurance policies to cover profit losses
4. Applicability: Suitable for all types of businesses for financial stability during interruptions
5. Indemnity Period: Covers losses over a specified period needed to restore normal business operations
6. Flexible Options: This Fidelity business insurance plan can be tailored to include coverage for gross profit, net profit, and standing charges

12. Standard Fire and Allied Perils Insurance

What is Standard Fire and Allied Perils Insurance?

Standard Fire and Allied Perils Insurance is a named peril policy that provides broader coverage compared to basic fire and lightning policies. It covers any encroachments and physical damage to the insured property resulting from a wide range of specified perils. 

The list of perils under this Fidelity Insurance UAE plan includes fire, lightning, explosion, implosion, damage caused by aircraft, riots, strikes, malicious damage, storms, cyclones, typhoons, hurricanes, tornadoes, floods, inundations, earthquakes, impact damage, subsidence and landslide, leakage from automatic sprinkler installations, and bushfires.

Additionally, the policy can cover loss or damage due to burglary with an additional premium.

Key Features and Benefits of Standard Fire and Allied Perils Insurance

1. Coverage: This plan under Fidelity business insurance financially protects against a wide range of perils beyond just fire and lightning, including natural disasters and man-made events
2. Named Peril Policy: Clearly lists the perils covered providing specific protection against identified risks
3. Physical Damage Protection: Covers physical damage to property insured
4. Extended Coverage Options: Offers the ability to add coverage for burglary and other risks with an additional premium
5. Financial Stability: Helps maintain financial stability for property owners by covering losses due to damage from insured perils
6. Customisable: Policies can be tailored to meet the specific needs and risks associated with different properties

Fidelity United Business Insurance Claim Process 

For any Fidelity Insurance claims for your business, a designated team will guide you through the entire process. Their professionally qualified claim team handles claim intimation and inquiries with the highest servicing standards for a smooth and efficient experience.

Step-by-Step Claim Process

1. Claim Intimation: The first and foremost step is to intimate a claim. You should send an email to claims@fidelityunited.ae to notify the company of the claim.
2. Guidance and Next Steps: On receiving your claim intimation, the company will advise you on the next steps based on the type of Fidelity Insurance claim you have reported. Their team will provide detailed instructions on what is required to process your claim.
3. Policybazaar Assistance: If you got your Fidelity Insurance policy from Policybazaar.ae, you can also use our claim assistance services. 

Why Choose Fidelity United for Your Claims?

• Professional Team: Their claims team is professionally qualified and dedicated to providing the best service standards.
• Efficient Handling: Proper attention is given to claim intimations and inquiries to expedite the claim process.
• Customer Support: Fidelity United provides comprehensive support and guidance throughout the claim process.

Why Choose Policybazaar.ae for Fidelity United Business Insurance?

Policybazaar.ae is a renowned brand in the UAE insurance market. It offers multiple business insurance solutions, including those from Fidelity United. With their expert guidance, 24-hour customer service, and top-notch insurance options, Policybazaar.ae stands out as a preferred choice for many businesses. 

Here are the key benefits of choosing a policy from Policybazaar UAE -

• Policybazaar.ae helps you get the best possible rates for your insurance policies. You can save on premium costs while maintaining comprehensive coverage.
• With over 22 insurance providers to choose from, Policybazaar.ae offers a variety of policies that cater to different business needs and requirements. 
• Policybazaar.ae boasts over 21,000 Google reviews with an average rating of 4.6. This high rating reflects the satisfaction and trust of their customers.
• Their team of insurance experts provides personalised advice to help you choose the best policy for your business. 
• Policybazaar.ae offers comprehensive claim assistance services. You can get the necessary support and compensation you deserve without unnecessary hassle.
• Policybazaar.ae frequently offers exciting rewards and incentives for their customers. These rewards can include discounts, cashback offers, and other benefits that add value to your insurance purchase.

Frequently Asked Questions