Insurance for Your Business in Qatar
Liability insurance refers to coverage for injury to another person or damage to a person's property for which you are legally responsible. General liability insurance will cover your business in case of bodily injury to someone or damage to someone's property that occurs on your premises.
Property insurance provides coverage to your business for loss or damage (such as fire or vandalism) to your property. Business property coverage typically falls into two categories: building and personal property:
Building: It protects you should something happen to your building. Be sure to analyze your policy to see exactly what it includes - these policies typically cover damage caused by fire, lightning, earthquakes, etc…
Personal property: This covers a business for loss of, or damage to, the property inside its building, such as files, office furniture, inventory, materials, etc. Check to see if your policy includes your computers and your phone system; your insurer may consider these to be "special" property and require additional coverage.
Professional indemnity insurance protects you financially in the case of a claim against you for negligence, errors, omissions, or wrongful acts in the performance of your duties. It includes coverage for malpractice, errors, and omissions.
In some cases, companies you do business with will require you to have it. For instance, computer consultants bidding for corporate contracts often must prove they have professional indemnity insurance coverage, since errors in their work can put a corporation's computer system out of commission. Even if you are not mandated to have it, it is wise to carry a policy if the service you provide could inadvertently harm another person.
Product liability insurance protects you in case a product you produce or provide causes harm to a user or a user's property. This type of insurance is recommended for every business that manufactures a product.
Motor Trade Insurance covers damage to new and unregistered cars whilst being driven on road using temporary registration numbers and for damage to vehicles whilst being driven within the garage premises. This type of insurance also includes cover for third party liability.
Pecuniary insurance covers loss of money in transit or from your office safe, loss of money by any act of forgery or embezzlement, larceny or fraudulent conversion committed by any employee.
Engineering Insurance covers risks associated with the execution of construction or engineering projects. Engineering insurance products include:
- Contractors All Risks Insurance:
Contractors All Risks Insurance is specially designed to insure Civil Works where major portion of work does not relate to erection or installation of any plant or machinery. This type of insurance covers any sudden and unforeseen physical loss or damage to the contract works and your legal liabilities resulting from any third party bodily injury or third party property damage caused by an accident at the contract site.
- Erection All Risks Insurance:
Erection All Risks Insurance covers engineering works where major portion of the work relates to erection or installation of any plant or machinery.
- Plant and Equipment Insurance:
Plant & Equipment Insurance covers your machineries, plants, cranes, equipment’s etc...
- Electronic Equipment Breakdown Insurance:
Electronic Equipment Breakdown Insurance covers electronic equipment breakdown, in addition to increased cost of working (additional expenditure for use of substitute equipment following a loss covered).
- Annual Contractors All Risk Insurance:
Annual contractors all risk insurance covers automatically all small civil engineering / maintenance contracts up to QR 5 million, and it covers all risks.