Union Business Insurance

The company holds a licence from the UAE Insurance Authority. Its comprehensive retail and commercial insurance products are designed to meet the diverse needs of businesses of all sizes across the UAE and the Middle East.

With Union business insurance, you get a broad spectrum of coverage options including -

• Life
• Health
• Property
• Engineering
• Liability
• Maritime 

You can confidently focus on your core activities knowing that your risks are managed with advanced methods for claims, policy issuance, and more.

In this guide, you will get an idea of how Union Insurance UAE will help you find the coverage that best meets your needs.

Types of Union Business Insurance Plans

Given below are the types of Union business insurance plans -

1. Marine Insurance

Union Insurance offers comprehensive Marine Insurance coverage that protects your vessels and cargo, keeping you secure even when navigating rough waters. It is designed to protect you from the financial risks associated with transporting goods and vessels across the water.

This type of insurance is crucial for safeguarding you against potential losses from incidents like damage to ships, boats, or cargo.

Types of Marine Insurance

Here are the 3 types of Marine Insurance that provide different coverages -

1. Marine Cargo Insurance 
2. Hull and Machinery Insurance 
3. Hull and Cargo Insurance 

1- Marine Cargo Insurance

This type of Union Business Insurance Plan protects your goods while they’re being transported by sea, whether it's for business or personal use. It helps you manage risks and keeps costs affordable.

There are two main types of policies:

• Single Cargo Insurance: It is ideal for individuals or businesses shipping cargo just once. This policy covers one-time shipments.
• Open Cargo Insurance: This policy is valid for one year and automatically covers all shipments made during that time. You can report your shipments monthly, quarterly, or as needed.

Coverage Includes:

• Protection against natural disasters like storms, volcanic eruptions, and lightning
• Coverage for damage from accidents such as collisions, unloading at a distressed port, or ship overturning
• Insurance for unexpected events like fires, explosions, grounding, war risks, kidnapping, and piracy

2- Hull and Machinery Insurance

Hull and Machinery Insurance protects vessels by covering physical damage to their hull and machinery. This type of Union business insurance applies to a range of vessels including general cargo ships, oil tankers, pleasure crafts, and commercial yachts.

Extended Coverage:

• Builder’s Risk: Offers coverage for damage that may occur during the construction of a vessel.
• Physical Damage: Protects against damage to the hull and machinery of the vessel.
• Special Risks: Includes protection against risks such as war, terrorism, kidnapping, and ransoms.
• Disbursements and Liabilities: Covers costs related to disbursements, increased value, and excess liabilities.

Additional Benefits:

Provides additional benefits specific to yachts, including -

• Covers costs if someone is injured or if other boats are damaged due to your vessel
• Helps pay for medical costs from accidents or injuries, including those from water skiing
• Covers repairs or replacements for your personal belongings and small boats like tenders or dinghies
• Protects you if you’re injured by another boater who doesn’t have insurance

3- Hull and Cargo Liability

The Union Insurance Company UAE provides extensive coverage for damage to your vessel and the cargo it carries, as well as protection for employees and third-party passengers.

Types of Coverage:

• Charterer’s Liability: It covers your costs and responsibilities when you lease a vessel, even though the vessel is operated by its owner.
• Ship Repairers Liability: Protects you from legal claims if damage occurs to vessels you are repairing.
• Terminal Operator’s Liability: Saves you from liabilities for damage to third-party property, injuries, and defence costs related to port operations.
• Stevedore’s Liability: You will get covered for legal claims arising from damage to vessels and cargo while you are loading or unloading.
• Marine Operator’s Liability: Provides you coverage for legal claims related to incidents involving visitors or parties at the marina or on the vessel.
• Hauliers Liability Insurance: It offers protection for cargo and third-party liabilities, damages from mistakes, and legal costs. 
• Additional Protection: You can customise this coverage to include -
  • Protection for passengers’ personal effects
  • Cargo legal liability
  • Crew expenses, including lost wages and transportation home
  • Collision coverage

2. Yacht Insurance

This type of Union Insurance plan keeps you covered while you sail, providing protection for your yacht and personal belongings. With this coverage, you can confidently navigate through any weather or rough seas, knowing you are safeguarded on every journey.

Types of Coverage:

• Own Damage Coverage:
  • Loss or Damage: Covers your yacht, including outboard motors, trailers, and equipment, from risks like fire, collision, or weather-related damage.
  • Theft and Outboard Motors: Protects you against the loss of the entire vessel or its parts due to forced entry and insurance motors that fall overboard.
  • Damage in Transit: Saves you from damage while your boat is being transported on a trailer.
• Third-Party Damages 
  • Third-Party Damages: Includes damages caused to others by your boat.
  • Accidents with Permission: Protects against liabilities if someone you allowed to use your boat gets into an accident.
  • Injury or Death: Covers accidental injuries or deaths of people (not employees) related to your boat.
• Supplementary Coverage (Additional Premium):
  • Injuries caused by uninsured boat operators
  • Losses due to war, strikes, or other conflicts
  • Liability coverage for water-skiing activities
  • Accidental injuries, deaths, and medical costs for you and your spouse
  • Damage to motors, electrical equipment, and batteries from defects or heavy weather
  • Covers masts, sails, and riggings in case of accidents during races
  • Personal items on board against theft or damage from forced entry

3. Group Life Insurance

Group Life Insurance protects your employees and their families financially in case of disability or sudden loss of life.

This Union business insurance is available for all types of formal employer-employee groups, including banks, NGOs, and other organisations, offering comprehensive coverage at a low cost.

Policy Details:

• Term: One-year renewal term insurance plan
• Base Cover: Covers death from any cause

Benefits for Employers:

• Affordable Coverage: Provide life insurance to your employees at a minimal cost
• Employee Retention: A valuable tool to build loyalty and keep employees
• Easy Administration: Simple process to manage the insurance

Benefits for Employees:

• Easy Enrollment: No medical exams are needed up to the free cover limit (the maximum amount covered without medical tests, which varies by group)
• Financial Protection: Offers peace of mind and security against life’s uncertainties

Add-On Riders:

You can also enjoy additional protection by opting for any extra coverage (optional), including -

• Critical Illness 
• Accidental Death Benefit
• Permanent Total or Partial Disability 
• Temporary Total Disability
• Temporary Total Disablement Benefits
• Accidental Medical Expenses
• Repatriation Expenses

4. Group Health Insurance 

What is Group Health Insurance?

Group Medical Insurance is designed for organisations, such as companies, to cover their employees. This Union business insurance plan ensures that employees have access to necessary medical care while allowing you to offer valuable benefits as part of their overall compensation package.

Key Features:

• Cost-Effective: It offers lower premiums compared to individual health insurance plans due to the larger risk pool.
• Wide Network of Healthcare Providers: Get direct billing access at 3400+ facilities.
• Employee Benefits: Employees receive access to healthcare services, which helps in maintaining their health and productivity.
• Administrative Simplicity: Managed by the employer, it streamlines the process of providing health coverage to a group of people.
• Broad Coverage: It provides medical benefits for a range of healthcare needs, including hospital visits, treatments, and preventive care.

5. Property Insurance

What is Property Insurance?

Property insurance protects your physical assets from risks such as damage, loss, or theft. This can include a wide range of properties, from homes and office equipment to furniture and other valuable items.

In the event of damage or loss, this Union business plan provides financial protection, helping you recover or repair your assets without incurring significant out-of-pocket costs.

Types of Property Insurance

1. Property All Risks
2. Business Interruption
3. Fire and Allied Perils

1- Property All Risk

This comprehensive form of property insurance offers broad protection against a wide range of potential risks, except for those specifically excluded from the policy. 

It’s designed to cover losses or damage to your property from virtually any cause, providing you with a high level of security and peace of mind.

Policy Inclusions

This Union Insurance plan covers a wide array of potential issues, including —

• Protection against losses or damage caused by fire
• Coverage for damage resulting from natural events such as lightning, earthquakes, storms, tsunamis, and floods
• Covers various other unexpected incidents that result in damage to the property. This includes a variety of unexpected incidents such as —
  • External Impact or Aircraft Damage: Damage from objects or vehicles impacting your property
  • Aircraft Damage: Damage caused by aircraft or their parts
  • Riots and Strikes: Losses due to civil commotion or labour disputes
  • Equipment Failure: Damage from the failure or bursting of equipment like water tanks
  • Malicious Intent: Damage caused by intentional acts of vandalism or sabotage
  • Accidents: Protection for unforeseen accidents and mishaps, ensuring that unexpected events do not lead to significant financial losses.

2- Business Interruption

This type of Union business insurance provides comprehensive coverage to businesses from financial losses caused by disruptions resulting from property damage. 

It helps cover the loss of income and additional expenses and make sure businesses can maintain operations, recover more quickly, and reduce the financial impact of such disruptions.

Key Benefits and Features:

Indemnity Period:

• What It Is: The time frame during which your insurer covers financial losses resulting from an interruption.
• Why It Matters: It limits coverage to a set period, helping businesses recover within a reasonable time.

Gross Profit Coverage:

• What It Is: This policy covers the loss of gross profit, which includes the income lost due to the interruption, minus any savings from reduced operating costs.
• Why It Matters: It helps cover essential expenses and keeps the business profitable, but doesn’t replace all lost revenue.

Increased Cost of Working:

• What It Is: Covers extra costs like renting new premises, hiring temporary staff, or extra advertising during the interruption.
• Why It Matters: It helps manage additional expenses to keep the business running while dealing with the disruption.

Accountants’ Fees:

• What It Is: Covers the cost of accountants or auditors for preparing and validating your claim.
• Why It Matters: Ensures you can afford professional help to properly assess and claim your losses.

3- Fire and Allied Perils

Fire and Allied Perils Insurance offers comprehensive protection against various risks that can cause damage to property. 

It primarily covers losses resulting from fire, including damage caused by natural disasters such as lightning, storms, floods, and earthquakes. 

Here’s a quick overview —

• Material Damage: Includes protection against impact damage, bursting or overflow of water tanks, and explosions affecting equipment or property.
• Aircraft Damage: Provides compensation for damage caused by aircraft or falling debris.
• Civil Disturbances: Covers losses from riots, strikes, malicious acts, and accidental explosions.

6. Engineering Insurance

This type of coverage is designed for complex engineering projects that involve significant risks, such as damage to construction sites, machinery, or equipment during the building process.

Union Insurance is committed to delivering top-notch insurance covers, inspection services, and risk management solutions, making sure that your engineering projects are well-protected against unforeseen challenges.

Types of Engineering Insurance

Below we are sharing the types of Engineering Insurance satisfying different coverage needs -

1- Contractors All Risks

Contractors All Risks insurance provides extensive coverage for civil engineering and construction projects, protecting against a wide array of risks. 

This policy covers risks from the delivery of construction materials to the final handover of the project, ensuring comprehensive protection throughout the entire construction process.

Coverage Includes:

• Accidents and Errors: Includes consequences of accidents, injuries, human error, or negligence, protecting against unforeseen mishaps.
• Natural Disasters: Protection against damage from fire, lightning, floods, storms, and earthquakes is available under this Union business plan.
• Property and Equipment Issues: Addresses structural damage, broken machinery, faulty materials, and maintenance problems.
• Theft and Malicious Damage: Covers losses due to burglary or deliberate acts of vandalism.

2- Electronic Equipment

Electronic Equipment Insurance provides comprehensive protection for electrical and electronic devices against sudden and unforeseen damage.

This type of Union Business insurance ensures that a wide range of electronic equipment, including computers, telecommunication devices, and specialised equipment like film and broadcasting equipment, is safeguarded against various risks.

Coverage Includes:

• Data Loss: Includes losses from errors in re-processing or restoring lost information.
• Defects: Protection against defects in design, manufacturing, assembly, or materials.
• Natural Causes: Damage from fire, lightning, water, and humidity.
• Physical Damage: Includes issues from aircraft failure or air conditioning malfunctions.
• Electrical Issues: Covers losses from short circuits, electrical faults, smoke, soot, and corrosive gases.
• Human Error: Covers damage from workshop mistakes or faulty workmanship.

3- Contractors Plant & Machinery

Contractors Plant and Machinery Insurance provides annual, comprehensive coverage for contractors or companies using plant and machinery across various project sites. This policy is effective at any site where the equipment is used, including when stored at the contractor's premises.

Coverage Includes:

• Owned and Hired Equipment: Protection for both owned and rented plant and machinery.
• Loss and Damage: Covers loss or damage, including breakdowns, to hired equipment, with specific declaration required.
• Legal Liability: Coverage for ongoing hire charges if the equipment is damaged or lost is included under this Union business insurance type.
• Additional Extensions: Offers features such as the recovery of immobilised equipment and relocation coverage. 

4- Erection All Risks

Erection All Risks (E.A.R.) Insurance offers extensive protection for those involved in the installation of factories, industries, or manufacturing facilities. 

This Union insurance plan typically covers general contractors, subcontractors, and sometimes equipment suppliers and manufacturers. This ensures that the installation process is carried out smoothly. 

Coverage Includes:

• Unforeseen Events: Includes damage from foreign objects, on-site accidents, and transport-related losses.
• Project Phases: Protection from the unloading of materials at the site through storage, physical erection, testing, and maintenance.
• Structural Damage: Addresses damage from explosions, faults during erection, electrical issues, and excess voltage.
• Natural Disasters: Covers losses from fire, lightning, floods, windstorms, and earthquakes.
• Testing and Commissioning Issues: Includes problems encountered during testing and commissioning.

Optional Extensions:

• Provides additional protection during extended maintenance periods
• Covers costs related to regular maintenance visits

5- Machinery Breakdown

Union Insurance Abu Dhabi provides robust coverage for costly plants, machinery, and mechanical equipment. This insurance provides protection for businesses against the financial impact of mechanical and electrical failures of machinery. 

It covers the repair or replacement costs of machinery that breaks down due to various issues, helping to mitigate business interruptions and financial loss.

Coverage Includes:

• Connected Machinery Failures: Protection against sudden stoppage or failure of machinery linked to the main equipment.
• Electrical and Mechanical Failures: Covers breakdowns due to faulty material or workmanship, including issues with machine structure or setup.
• Centrifugal Force Malfunctions: Protection against disruptions caused by centrifugal forces affecting machine parts.
• Safety Device Failures: Coverage for malfunction or failure of safety devices, including breakdowns related to lubricating oil systems.
• Electrical Issues: Covers problems from electrical short circuits, including fires from insulation failure or voltage issues.

6- Deterioration of Stocks

Deterioration of Stock insurance offers crucial coverage for losses resulting from the spoilage, contamination, or breakdown of stored goods. This Union business insurance plan is particularly relevant in regions with extensive use of refrigeration and freezing systems.

Coverage Includes:

• Storage Failures: Protection for goods damaged due to failures or breakdowns in storage facilities, including incidents that require goods to be removed.
• Refrigerant Issues: Covers damage caused by escaped refrigerants or fumes from the refrigeration system.
• Power Supply Failures: Includes losses from accidental failures in public electricity supply.

7. Liability Insurance

Liability Insurance protects individuals and businesses from financial loss due to claims of negligence, harm, or damage caused to others.

It covers legal costs and damages awarded to third parties in cases where you are found legally responsible for the injury or property damage.

Types of Liability Insurance

1. Professional Indemnity 
2. Public Liability 
3. Workmen’s Compensation 
4. Medical Malpractice

1- Professional Indemnity

Professional Indemnity Insurance provides protection for professionals against liabilities arising from negligence, errors, or omissions in the services they provide.

This type of Union Insurance business plan provides flexible policy options offered for both annual coverage and single projects, tailored to meet your specific needs. 

Coverage Includes:

• Liability Protection: Covers legal liabilities due to professional negligence or errors made while offering services.
• Breach of Duty: Safeguards against claims related to breaches of professional duty caused by mistakes or omissions.
• Applicable Professions: Commonly used by architects, engineers, consultants, lawyers, accountants, construction contractors, and IT professionals, but available for various fields.

2- Public Liability

Public Liability insurance safeguards your business from legal claims made by third parties for injuries or property damage that occurs on your premises or as a result of your business activities.

At Union Insurance Company, you can tailor your coverage to meet your specific business needs, ensuring comprehensive protection against potential liabilities.

Coverage Includes:

• Claim Costs: Covers costs and expenses related to claims from injured parties or those with damaged property.
• Injury and Property Damage: Protects against legal liabilities for injuries or damages suffered by third parties.
• Occurrence Basis: Claims are covered if reported within the policy period.

3- Workmen’s Compensation

This labor Union insurance plan covers your business for risks related to employee work-related injuries and diseases, protecting you from legal liabilities. This coverage is only valid within the UAE. 

Coverage Includes:

• Compensation Limits: It provides a minimum compensation of AED 18,000 and a maximum of AED 35,000 per employee.
• Legal Liability Protection: It covers accidental bodily injuries or diseases related to work, as required by UAE Federal Labour Law No-8 of 1980 and Shariah Law.
• Additional Coverage: Union Insurance also offers optional ‘Employer’s Liability’ coverage beyond the legal requirements for extra protection.

Employer’s Liability Coverage protects employers against legal claims made by employees for injuries or illnesses sustained as a result of their work. 

4- Medical Malpractice

Medical Malpractice Insurance protects medical professionals and institutions, including hospitals and clinics, against claims of negligence or errors in patient care.

It provides coverage for lawsuits and associated legal costs, offering security and reassurance to healthcare providers as they deliver essential services. 

Steps to Fill Union Insurance Claim Form

Follow these simple steps to fill Union insurance reimbursement form —

• Visit unioninsurance.ae
• Select your plan and click the 'Claim' button
• Complete the registration by providing the required information
• Acknowledge the confirmation message to proceed
• Upload the necessary documents for your claim
• Review your personal details and documents for accuracy
• Once approved, you will receive an approval email and payment directly in your bank account

Choose Policybazaar.ae for your Business Insurance Requirements

Here’s the list of benefits that you’ll get by choosing Policybazaar UAE for getting business insurance in the UAE -

✔️Expert Advice: Get tailored insurance guidance from industry experts

✔️Wide Selection: Access a variety of business insurance options

✔️Custom Solutions: Find coverage suited to your specific business needs

✔️Competitive Rates: Compare policies to secure the best value

✔️Easy Process: Enjoy a smooth experience from comparison to purchase

✔️Dedicated Support: Benefit from ongoing help with claims and queries

✔️Trusted Service: Join thousands of satisfied customers with our reliable service

Frequently Asked Questions