Equipment All Risk Insurance Malaysia

19/05/2022

Manufacturing Insurance and Warehouse Insurance
Enquiry Via ACPG Whatsap +6011-12239838

ACPG Whatsapp Team
http://wasap.my/+601112239838/Manufacturinginsurance
Manufacturing Industry
Insuring your needs while providing services that help control costs and reduce ongoing risk

The manufacturing industry is one of the most diverse, with a myriad of products requiring different production methods, sold to different markets, and facing different opportunities for innovation and economic performance.

From the production line to the export market, the risks they face are almost as broad, forcing manufacturers to work harder and smarter to maintain competitiveness.

ACPG principal insurers offers the widest range of policies for the manufacturing industry in the Malaysia market, backed by the knowledge and expertise of our experienced underwriters, loss prevention engineers and claims staff, giving Malaysia businesses the confidence to expand and grow both at home and internationally.

Commercial & Industrial Fire
This product covers accidental physical loss, destruction or damage to property insured other than by an excluded cause and subsequent income loss resulting from such interruption or interference.

Extended Warranty
Our Service Contract Reimbursement program allows you to extend the manufacturers' warranties up to a maximum of five years from the date of purchase for your electrical appliances, mobile devices and furniture with similar manufacturer's protection against structural (furniture), mechanical or electrical failures.

Trade Credit
Trade Credit Insurance protects open account sales - export and domestic - against non-payment resulting from a customer's legal insolvency or protracted default. Apart from protecting the insured's primary source of cash and the accounts receivable, our coverage can potentially enable the insured to expand sales in new markets and offer more competitive terms of sale.

Product Liability Insurance
A manufacturer may be held liable for bodily injury or damage to property of others caused by defective products.

Marine Cargo Insurance
Comprehensive cover against risks of loss or damage of goods in transit from point A to B by sea, air (including courier) and land.

Foreign Workers Scheme
Foreign Workers Insurance Scheme is designed with the understanding that your employees are your assets and that taking good care of your foreign workers will ensure the smooth running and success of your business operations.

Group Personal Accident
This product provides compensation in the event of injuries or death caused by sudden and unforeseen accident. Coverage is provided 24/7. This product is specially customized according to your needs and can be purchased by a company to cover its employees, provided that all employees are included for coverage.

Group Medical
With rising medical costs, you need a medical program that is cost effective to ensure your most valuable asset, your employees are protected.

Business Travel Insurance
In today’s global environment, it is comforting to know that your employees can travel with peace of mind with our comprehensive

Group Travel Insurance. Whatever your employees’ travel patterns, we have plans that offer an extensive array of coverage that provides travel protection.

Management Liabilities
Provides the most innovative and extensive insurance for your directors and officers.
Commercial Crime
Protection against fraud, dishonesty, third party computer and funds transfer fraud.

Environmental Impairment Liability
Environmental insurance provides customers with the broad coverage they need to adequately protect their business from the continuously changing environmental landscape.

Public Liability
Public Liability provides indemnity to an Insured for his legal liabilities as well as legal liabilities of his representatives and employees arising in connection with the Insured’s business, carried out at and from the specific place of business.

Workmen's Compensation and Employers Liability
An employer may be legally liable to provide compensation to his workers and their dependents for personal injury/death by accident arising out of and during the course of employment. This covers the employer for such liabilities.

Comprehensive General Liability
Businesses have a duty of care to their customers, as well as to the general public. Legal defence and compensation costs that follow an accident or injury caused by your company’s activities can be crippling.

General Liability cover from ACPG principal insurers ensures that the injured party receives fair compensation without putting your business at risk.

Oil and Gas Service Contractors
Oil and Gas Service Contractors in the ASEAN Region (OSCAR) fulfills the insurance contractual requirements of general oil and gas contractors. It provides comprehensive cover for Workmen's Compensation and Employer Liability and General Liability for oil and gas contractors working onshore and/or offshore.

Malaysia Insurance Corporate Agency
ACPG Management Sdn Bhd (Insurance Biz since Year 1989)
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumpur, Malaysia.
http://www.acpgconsultant.com
+603-92863323, +6011-12239838, +6012-6489838
For more information or quotation enquiry, please contact our ACPG Whatsapp Team
http://wasap.my/+601112239838/ACPGinsuranceenquiry

12/01/2021

Insurans Liabiliti Tanggungan Awam
Public Liability Insurance 公共责任保险
Whatsapp Team +6011-122239838
http://wasap.my/+601112239838/PublicLiabilityinsurance

Insurans Liabiliti Tanggungan Awam untuk
Borang Permohanan Permit Iklan Papan Tanda
DBKL MPAJ MPSJ MPPJ MPKJ

Public Liability Insurance for Signboard,Banner, Billboard, Banting, Exhibition, Event, Concert, Expo Permit Support For DBKL MPAJ MPSJ MPPJ MPKJ

Public Laibility Insurance for Signboard,Banner, Billboard, Banting, Exhibition, Event, Concert, Expo Permit Support For Kuala Lumpur and Wilayah Persekutuaan

Contractor All Risk (CAR)
Er****on All Risk (EAR)
Workmen Compensation (WC)
Public Liability Insurance (PL)
Third Party Liability Insurance (TPL)

Expertise in Construction and Renovation Insurance Malaysia
Arranged By
ACPG Management Sdn Bhd (ACPG)
(Insurance Business since year 1989)
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumpur, Malaysia.

27/08/2018

Malaysia Property Building Insurance
Fire Insurance for Property Building
Arranged By
ACPG Management Sdn Bhd
011-12239838
03-92863323
www.acpgconsultant.com

This Building Cost Calculator (“Calculator”) provides an estimate of the rebuilding cost of your property for evaluation purposes only, and does not guarantee the actual amount that we may agree to insure your property for. The Calculator is intended to assist in estimating the sum that your property is to be insured for and shall not at any time be a substitute for professional advice and judgment, particularly where a property has any unusual features or is outside the range of properties described below.

If your property has any unique or special design features, kindly refer the property to a professional valuer for a more accurate assessment of your property.

If any of the boxes are not completed, the Calculator will not be able to provide you with an estimate, in which case, please check and ensure that all necessary details have been entered correctly.

If you are not sure how to enter the details or need assistance in relation to some other feature of this tool, just click on

Building Cost Calculator (BCC)
The calculator is a guide only to assist you in determining the estimated sums to be insured for residential properties, simple shop house and shop office and is not a substitute for professional advice to be obtained.

Before using the calculator, kindly note the following:

if any renovations have been made to your property, you are advised to indicate the amount (cost of renovation) in the box provided in the BCC.
if your property has unique or special design features and/or have extensive renovations and/or have complex structures affixed, you are advised to obtain professional advice for a more accurate assessment of your property.
To access to the BCC, kindly click on the following selection:

https://bcc.piam.org.my/







https://bcc.piam.org.my/

This Building Cost Calculator (“Calculator”) provides an estimate of the rebuilding cost of your property for evaluation purposes only, and does not guarantee the actual amount that we may agree to insure your property for. The Calculator is intended to assist in estimating the sum that your pro...

27/08/2018

Malaysia Property Building Insurance
Fire Insurance for Property Building
Arranged By
ACPG Management Sdn Bhd
011-12239838
03-92863323
www.acpgconsultant.com

This Building Cost Calculator (“Calculator”) provides an estimate of the rebuilding cost of your property for evaluation purposes only, and does not guarantee the actual amount that we may agree to insure your property for. The Calculator is intended to assist in estimating the sum that your property is to be insured for and shall not at any time be a substitute for professional advice and judgment, particularly where a property has any unusual features or is outside the range of properties described below.

If your property has any unique or special design features, kindly refer the property to a professional valuer for a more accurate assessment of your property.

If any of the boxes are not completed, the Calculator will not be able to provide you with an estimate, in which case, please check and ensure that all necessary details have been entered correctly.

If you are not sure how to enter the details or need assistance in relation to some other feature of this tool, just click on

Building Cost Calculator (BCC)
The calculator is a guide only to assist you in determining the estimated sums to be insured for residential properties, simple shop house and shop office and is not a substitute for professional advice to be obtained.

Before using the calculator, kindly note the following:

if any renovations have been made to your property, you are advised to indicate the amount (cost of renovation) in the box provided in the BCC.
if your property has unique or special design features and/or have extensive renovations and/or have complex structures affixed, you are advised to obtain professional advice for a more accurate assessment of your property.
To access to the BCC, kindly click on the following selection:

https://bcc.piam.org.my/

31/07/2018

Marine Cargo Insurance, Marine Transit Insurance, Cargo Transit Insurance and Goods In Transit Insurance
Hotline +6011-12239838 Whatsapp
Arranged By
ACPG Management Sdn Bhd
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumpur, Malaysia.
http://www.acpgconsultant.com
+603-92863323

Marine Cargo Insurance
Marine Cargo Insurance refers to the insurance of goods shipped from one place to another, anywhere in the world.
Coverage is usually effected on a "per voyage" basis that is from the time the goods leave the premises of the seller until the time they finally arrive at the buyer's premises. There is no period specified in the policy.
Coverage can either be effected by the buyer or the seller depending on the contract of sales. There are different types of recognised Sale Contracts, the most common affecting Marine Insurance are:
F.O.B. (Free On Board)
It is the seller's obligation to place the goods on board vessel at his own expense and obtain the Bill of Lading. He (the Seller) is also responsible for all loss or damage until goods are on board vessel. Thereafter the goods are at buyer's risks.
C & F (Cost and Freight)
Seller provides goods with all freight and other charge paid to the port of discharge but does not include insurance charges. He (the Seller) is also responsible for the loss or damage to goods until delivery on to the carrying vessel but it is the responsibility of buyer to arrange insurance.
C.I.F. (Cost, Insurance & Freight)
The Seller undertakes to arrange and pay for all costs of delivering the goods and insurance up to final destination because the buyer has paid for these in the sale price. The insurance policy is assigned to the consignee and he can claim under the policy as though he had arranged the insurance himself.

Type of Marine Cargo Insurance Policies
1.Individual Policy
These are policies issued on each and every shipment upon request by the Assured.
2.Open Cover Policy
The Open Policy is a continuous policy that is issued on certain date and remains in force until cancelled. The policy provides automatic protection for all shipments described in the policy.
This arrangement is suitable for merchants who are engaged in regular import/export or internal trade.
Coverage in Marine Cargo Insurance
Shipment by vessel
Sending by air
Inland Transit
Sending by post or courier service

1.Shipment By Vessel
Types of coverage available are :
Institute Cargo Clauses ( C )
Institute Cargo Clauses ( B )
Institute Cargo Clauses ( A )
Institute Cargo Clauses ( C )
It covers loss of or damage to the interest insured attributable to :
fire or explosion
vessel being stranded, grounded, sunk or capsized
overturning or derailment of land conveyance
collision or contact of vessel with external object other than water
discharge of cargo at a port of distress
It also covers loss or damage to interest insured caused by :
General Average Sacrifice
Jettison
Note :
General Average arises where a sacrifice is incurred in connection with a venture with a view to saving or minimizing the loss as a whole. This means that some of the cargo needs to be sacrificed in order to save others. There is liability resting upon the owners of cargo to contribute towards the damages or expenses suffered by those whose cargoes are sacrificed.
Institute Cargo Clauses ( B )
In addition to coverage provided under "C" policy, it also covers loss or damage to goods insured attributable to earthquake, volcanic eruption or lightning and loss of or damage to interest insured by :
entry of sea, lake or river water into vessel
total loss of any package lost overboard or dropped whilst loading on to, or unloading from vessel

Institute Cargo Clauses ( A )
It covers all fortuitous losses of every description but excludes loss, damage or expense proximately caused by delay, inherent vice or nature of the goods.
General Exclusions for all Clauses ( A, B or C )
Willful misconduct of the Assured
Ordinary leakage, loss in weight, wear and tear
Insufficient or unsuitability of packing
Inherent vice or nature of subject-matter insured
Unseaworthiness of vessel (when the Assured is privy to it)
Delay even though caused by a risk insured against
Insolvency or financial default of carrier
Deliberate damage or destruction of the subject-matter insured
Use of nuclear weapon
War and Strikes
Terrorism
Radioactive contamination, chemical, biological, bio-chemical and electromagnetic weapons
Nuclear energy risk
Seepage and pollution
Marine Hull Insurance
Marine Hull Insurance covers loss or damage to hull and machinery. The hull is the structure of the vessel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, engine, cooler and electricity generator.
Scope of Cover
Institute Time Clauses
These are the main clauses and most important in Marine Hull policies. Time Clauses covers for a specific period usually 12 months. As the nature and degree of risks which the Insurer run vary according to the kind of vessel, there exist a number of categories in the Time Clauses. They are : -
Institute Time Clauses (Hull)
Institute Time Clauses (FPA)
Institute Time Clauses (Total Loss Only)

1.Institute Time Clauses (Hull)
Provides the maximum coverage offered by hull insurance.
Perils Covered
1.Perils of the sea
2.Fire & explosion
3.Violent theft
4.Piracy
5.Breakdown of accident to nuclear installations etc.
6.Contact with aircraft
7.Earthquake, volcanic eruptions or lightning
8.Accidents in loading etc.
9.Bursting of boilers
10.Breakage of shaft
11.Latent of defect
12.Negligence of masters etc.
13.Negligence of repairers etc.
14.Negligence of charterers etc.
15.Barratry
Excluded Perils
1.Wilful misconduct of the Assured
2.Loss caused by delays
3.Wear and tear
4.Rats and/or vermin
5.Injury to machine not proximately caused by maritime peril
Paramount Exclusions in the Policy
1.War
2.Strikes
3.Malicious acts
4.Nuclear exclusion
Other Losses & Expenses Covered
1.Pollution Hazard
2.3/4th Collision Liability
3.General Average and Salvage
4.Sue and Labour
5.Constructive Total Loss
2.Institute Time Clauses (FPA)
The coverage of these clauses are similar to that of Hulls Clauses but exclude coverage on machinery damages in all respects. It is advised that all vessels which exceed 15 years of age or older, if the risk accepted, to give this coverage only. Past experience shows that older vessels suffer serious casualties due to machinery damage. If machinery damage is excluded due to limitation of this clause, there is a better chance of making hull underwriting profit.
3.Institute Time Clauses Hulls (Total Loss Only)
As the name suggested, this clause only covers in the event of it becoming a total loss by arrangement, actual, compromised or constructive total loss. The rate for this cover is low and usually this cover is only extended to old vessel (but not more than 20 years) or on accommodation only.

Institute Yacht Clauses
This clause are basically Institute Hull clauses amended for yachts and include all damages to hull, masts, spars, sails and other equipment on board the yacht but does not include damage whilst the yacht is racing.
Caution should be taken with regard to charter yachts and if the risk is accepted, the following warranty must be included into the policy conditions, namely:

'Warranted that professional skipper & crew is in attendance at all times'
Full details of the Skipper and Crew's experience must be obtained.

Institute Voyage Clauses
This insurance covers risks during a voyage from one port or place to another or a round voyage. In so far as ordinary vessels are concerned, as most of them are usually insured under a time policy, voyage insurance is effected only in such cases as delivery voyage of a new vessel to buyer from the shipyard or a voyage of a vessel to be repaired at shipyard. The period of coverage is usually less than a year and the scope of coverage is almost identical that of time policy. In which case, there are also the FPA and Total Loss cover.

Builders' Risk Insurance
This type of insurance covers whilst vessel is under construction. During that period, it is exposed to risks such as fire, tidal wave, capsize or failure in launch. It is also exposed to collision and sinking on a trial trip. The builder's risk insurance effected by shipyards provides cover against all such risks. The insured value is the contract price or the estimated completed value of the vessel if there is no contract price. The period of insurance should be from the time of inception of the construction to the time of delivery. Hence, the period can well exceed 12 months.

Hull War And Strike Risks Insurance
War and strike risks are usually excluded from the cover of ordinary marine insurance policies in any market throughout the world. This insurance covers exclusions under Article 11 of the Institute Time Clauses. It can only be effected on vessels which are insured against ordinary marine risks. The rate of premium fluctuates frequently reflecting the climate of world politics at the time of inception of the risk.

Terrorism Insurance
Terrorism cover is an excluded risk worldwide. There will be no consideration for acceptance if this coverage is required.

Loss of Time Insurance
This insurance indemnifies a ship owner for loss of anticipated profits or operating costs where the insured vessel is forced to be out of commission in consequence of damage caused by maritime accident. The period of insurance is one year and the insurable value is calculated based on the following: -
estimated operating costs
estimated chartering to be earned
estimated gross income of freight
The loss of time is covered on the basis of the number of days required for the completion of the repairs, counting from the day following the day of the accident. The Insurer's liability per any one accident is limited to certain number of days up to 180 days throughout the year.
Malaysia Insurance Company Listing
AIG Malaysia Insurance Berhad
AXA Affin General Insurance Berhad
Allianz General Insurance Company (Malaysia) Berhad
AmGeneral Insurance Berhad
Berjaya Sompo Insurance Berhad
Chubb Insurance Malaysia Berhad
Danajamin Nasional Berhad
Liberty Insurance Berhad
Lonpac Insurance Berhad
MPI Generali Insurans Berhad
MSIG Insurance (Malaysia) Bhd
Overseas Assurance Corporation (Malaysia) Berhad
Pacific & Orient Insurance Co. Berhad
Pacific Insurance Berhad, The
Progressive Insurance Berhad
QBE Insurance (Malaysia) Berhad
RHB Insurance Berhad
Tokio Marine Insurans (Malaysia) Berhad
Tune Insurance Malaysia Berhad

31/07/2018

Marine Cargo Insurance, Marine Transit Insurance, Cargo Transit Insurance and Goods In Transit Insurance
Hotline +6011-12239838 Whatsapp
Arranged By
ACPG Management Sdn Bhd
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumpur, Malaysia.
http://www.acpgconsultant.com
+603-92863323

Marine Cargo Insurance
Marine Cargo Insurance refers to the insurance of goods shipped from one place to another, anywhere in the world.
Coverage is usually effected on a "per voyage" basis that is from the time the goods leave the premises of the seller until the time they finally arrive at the buyer's premises. There is no period specified in the policy.
Coverage can either be effected by the buyer or the seller depending on the contract of sales. There are different types of recognised Sale Contracts, the most common affecting Marine Insurance are:
F.O.B. (Free On Board)
It is the seller's obligation to place the goods on board vessel at his own expense and obtain the Bill of Lading. He (the Seller) is also responsible for all loss or damage until goods are on board vessel. Thereafter the goods are at buyer's risks.
C & F (Cost and Freight)
Seller provides goods with all freight and other charge paid to the port of discharge but does not include insurance charges. He (the Seller) is also responsible for the loss or damage to goods until delivery on to the carrying vessel but it is the responsibility of buyer to arrange insurance.
C.I.F. (Cost, Insurance & Freight)
The Seller undertakes to arrange and pay for all costs of delivering the goods and insurance up to final destination because the buyer has paid for these in the sale price. The insurance policy is assigned to the consignee and he can claim under the policy as though he had arranged the insurance himself.

Type of Marine Cargo Insurance Policies
1.Individual Policy
These are policies issued on each and every shipment upon request by the Assured.
2.Open Cover Policy
The Open Policy is a continuous policy that is issued on certain date and remains in force until cancelled. The policy provides automatic protection for all shipments described in the policy.
This arrangement is suitable for merchants who are engaged in regular import/export or internal trade.
Coverage in Marine Cargo Insurance
Shipment by vessel
Sending by air
Inland Transit
Sending by post or courier service

1.Shipment By Vessel
Types of coverage available are :
Institute Cargo Clauses ( C )
Institute Cargo Clauses ( B )
Institute Cargo Clauses ( A )
Institute Cargo Clauses ( C )
It covers loss of or damage to the interest insured attributable to :
fire or explosion
vessel being stranded, grounded, sunk or capsized
overturning or derailment of land conveyance
collision or contact of vessel with external object other than water
discharge of cargo at a port of distress
It also covers loss or damage to interest insured caused by :
General Average Sacrifice
Jettison
Note :
General Average arises where a sacrifice is incurred in connection with a venture with a view to saving or minimizing the loss as a whole. This means that some of the cargo needs to be sacrificed in order to save others. There is liability resting upon the owners of cargo to contribute towards the damages or expenses suffered by those whose cargoes are sacrificed.
Institute Cargo Clauses ( B )
In addition to coverage provided under "C" policy, it also covers loss or damage to goods insured attributable to earthquake, volcanic eruption or lightning and loss of or damage to interest insured by :
entry of sea, lake or river water into vessel
total loss of any package lost overboard or dropped whilst loading on to, or unloading from vessel

Institute Cargo Clauses ( A )
It covers all fortuitous losses of every description but excludes loss, damage or expense proximately caused by delay, inherent vice or nature of the goods.
General Exclusions for all Clauses ( A, B or C )
Willful misconduct of the Assured
Ordinary leakage, loss in weight, wear and tear
Insufficient or unsuitability of packing
Inherent vice or nature of subject-matter insured
Unseaworthiness of vessel (when the Assured is privy to it)
Delay even though caused by a risk insured against
Insolvency or financial default of carrier
Deliberate damage or destruction of the subject-matter insured
Use of nuclear weapon
War and Strikes
Terrorism
Radioactive contamination, chemical, biological, bio-chemical and electromagnetic weapons
Nuclear energy risk
Seepage and pollution
Marine Hull Insurance
Marine Hull Insurance covers loss or damage to hull and machinery. The hull is the structure of the vessel. Machinery is the equipment that generates the power to move the vessel and control the lighting and temperature system such as boiler, engine, cooler and electricity generator.
Scope of Cover
Institute Time Clauses
These are the main clauses and most important in Marine Hull policies. Time Clauses covers for a specific period usually 12 months. As the nature and degree of risks which the Insurer run vary according to the kind of vessel, there exist a number of categories in the Time Clauses. They are : -
Institute Time Clauses (Hull)
Institute Time Clauses (FPA)
Institute Time Clauses (Total Loss Only)

1.Institute Time Clauses (Hull)
Provides the maximum coverage offered by hull insurance.
Perils Covered
1.Perils of the sea
2.Fire & explosion
3.Violent theft
4.Piracy
5.Breakdown of accident to nuclear installations etc.
6.Contact with aircraft
7.Earthquake, volcanic eruptions or lightning
8.Accidents in loading etc.
9.Bursting of boilers
10.Breakage of shaft
11.Latent of defect
12.Negligence of masters etc.
13.Negligence of repairers etc.
14.Negligence of charterers etc.
15.Barratry
Excluded Perils
1.Wilful misconduct of the Assured
2.Loss caused by delays
3.Wear and tear
4.Rats and/or vermin
5.Injury to machine not proximately caused by maritime peril
Paramount Exclusions in the Policy
1.War
2.Strikes
3.Malicious acts
4.Nuclear exclusion
Other Losses & Expenses Covered
1.Pollution Hazard
2.3/4th Collision Liability
3.General Average and Salvage
4.Sue and Labour
5.Constructive Total Loss
2.Institute Time Clauses (FPA)
The coverage of these clauses are similar to that of Hulls Clauses but exclude coverage on machinery damages in all respects. It is advised that all vessels which exceed 15 years of age or older, if the risk accepted, to give this coverage only. Past experience shows that older vessels suffer serious casualties due to machinery damage. If machinery damage is excluded due to limitation of this clause, there is a better chance of making hull underwriting profit.
3.Institute Time Clauses Hulls (Total Loss Only)
As the name suggested, this clause only covers in the event of it becoming a total loss by arrangement, actual, compromised or constructive total loss. The rate for this cover is low and usually this cover is only extended to old vessel (but not more than 20 years) or on accommodation only.

Institute Yacht Clauses
This clause are basically Institute Hull clauses amended for yachts and include all damages to hull, masts, spars, sails and other equipment on board the yacht but does not include damage whilst the yacht is racing.
Caution should be taken with regard to charter yachts and if the risk is accepted, the following warranty must be included into the policy conditions, namely:

'Warranted that professional skipper & crew is in attendance at all times'
Full details of the Skipper and Crew's experience must be obtained.

Institute Voyage Clauses
This insurance covers risks during a voyage from one port or place to another or a round voyage. In so far as ordinary vessels are concerned, as most of them are usually insured under a time policy, voyage insurance is effected only in such cases as delivery voyage of a new vessel to buyer from the shipyard or a voyage of a vessel to be repaired at shipyard. The period of coverage is usually less than a year and the scope of coverage is almost identical that of time policy. In which case, there are also the FPA and Total Loss cover.

Builders' Risk Insurance
This type of insurance covers whilst vessel is under construction. During that period, it is exposed to risks such as fire, tidal wave, capsize or failure in launch. It is also exposed to collision and sinking on a trial trip. The builder's risk insurance effected by shipyards provides cover against all such risks. The insured value is the contract price or the estimated completed value of the vessel if there is no contract price. The period of insurance should be from the time of inception of the construction to the time of delivery. Hence, the period can well exceed 12 months.

Hull War And Strike Risks Insurance
War and strike risks are usually excluded from the cover of ordinary marine insurance policies in any market throughout the world. This insurance covers exclusions under Article 11 of the Institute Time Clauses. It can only be effected on vessels which are insured against ordinary marine risks. The rate of premium fluctuates frequently reflecting the climate of world politics at the time of inception of the risk.

Terrorism Insurance
Terrorism cover is an excluded risk worldwide. There will be no consideration for acceptance if this coverage is required.

Loss of Time Insurance
This insurance indemnifies a ship owner for loss of anticipated profits or operating costs where the insured vessel is forced to be out of commission in consequence of damage caused by maritime accident. The period of insurance is one year and the insurable value is calculated based on the following: -
estimated operating costs
estimated chartering to be earned
estimated gross income of freight
The loss of time is covered on the basis of the number of days required for the completion of the repairs, counting from the day following the day of the accident. The Insurer's liability per any one accident is limited to certain number of days up to 180 days throughout the year.
Malaysia Insurance Company Listing
AIG Malaysia Insurance Berhad
AXA Affin General Insurance Berhad
Allianz General Insurance Company (Malaysia) Berhad
AmGeneral Insurance Berhad
Berjaya Sompo Insurance Berhad
Chubb Insurance Malaysia Berhad
Danajamin Nasional Berhad
Liberty Insurance Berhad
Lonpac Insurance Berhad
MPI Generali Insurans Berhad
MSIG Insurance (Malaysia) Bhd
Overseas Assurance Corporation (Malaysia) Berhad
Pacific & Orient Insurance Co. Berhad
Pacific Insurance Berhad, The
Progressive Insurance Berhad
QBE Insurance (Malaysia) Berhad
RHB Insurance Berhad
Tokio Marine Insurans (Malaysia) Berhad
Tune Insurance Malaysia Berhad