WELCOME TO RELIANCE INSURANCE BROKERS L.L.C


Reliance Insurance Brokers L.L.C is a privately owned Insurance Broking Firm whose management team has a combined experience of over 75 years. Reliance has a strong relationship with the Top National and International Insurance Companies in the UAE and also with several reputed Reinsurance Companies. Our aim is to provide prompt, flexible and customized solutions to every customer’s Insurance requirements.

ABOUT US


Reliance Insurance Brokers has been established to provide Professional Insurance Services for SME and Corporate Clients. We specialize in the study and design of insurance programs with a view to obtaining the best available insurance coverage for the various branches of insurance on a perfect cost-benefit analysis.


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PRODUCTS & SERVICES

Coverage:

>> Under Section I of policy loss / damage to the vehicle due to an accident / theft / burglary excepting the excluded losses.
>> Under Section II liability to Third Parties for personal injury/death or damages to property of third parties.
>> Liability for Third party personal injury or death is unlimited whereas that for property damage is upto a specified limit.

Extensions:

>> Personal accident benefit to passengers.
>> Repair at agency.

Other Points:

>> For Vehicles like Nissan Maxima, Sports Cars etc the cover would be restricted or the premium rate would be high.
>> For all types of vehicles comprehensive insurance available only for vehicles upto 6 years of age.
>> Insurance for new licence holders and for drivers aged less than 25 is restricted.
>> Premium rate will vary depending upon vehicle type, repair facility, use of vehicle and third party liability limit.
>> Geographical area of cover is generally UAE but it is possible to get cover for Sultanate of Oman also.

Coverage:

>> Legal liability of insured for any wrongful act (errors, omission, negligence, breach of duty, breach of trust) upto agreed limit.
>> Cost and expenses.

Important Exclusions:

>> Contractual liability unless such liability would have attached notwithanding such express warranty.
>> Employer’s liability.
>> Product liability.
>> Fines and Penalities.

Extensions:

>> Libel and slander.
>> Dishonesty of employees.
>> Loss of documents..

Other Points:

The professions where this policy is common are:
>> Chartered Accountants.
>> Medical Practitioners (Medical Malpractice Insurance).
>> Consulting Engineers.
Premium will depend upon the type of profession, limit of liability chosen, experience of the insured and employees, number of employees, turnover and claims experience.

Information Required:

>> Insurers require a fully completed Proposal Form.

Coverage:

>> Mobile equipments / machinery of contractors against accidental loss or damages excepting excluded losses.

Important Exclusions:

>> Loss or damage whilst in transit.
>> Electrical or Mechanical breakdown.

Other Points:

>> Machinery should be insured for New Replacement Value.

Information Required:

Details of machinery to be insured such as:
>> Year of make.
>> Type & Make.
>> New Replacement Value.
>> Current Market Value.
>> 3 years Claims experience.

Coverage:

>> Covers Erection / Construction works against any accidental loss or damage excepting excluded losses.
>> Covers third party liability during the construction / erection and maintenance period.
>> Contractors Plant & Machinery can be included if required.

Extensions:

>> There are a number of extensions possible to improve the coverage and to meet the specific needs of the client.

Important Exclusions:

>> Faulty design, defective material, defective workmanship except as provided for in the policy.
>> Fines and Penalties.

Rating:

>>Premium rate depends upon the scope of work, project duration, the limit required for third party liability etc.

Information Required:

>> Fully completed proposal form is necessary.
>> The proposal form has questions relating to:
1. Names of Principal, Contractor, Sub-contractor & Consultant
2. Detailed Scope of work.
3. Project Period.
4. Project Location, Principal’s Property, Surrounding Property.
5. Project Value and Limit for Third Party Liability.
6. Details of Plant & Machinery to be insured.
7. Details of Temporary Facilities to be Insured.

Coverage:

Following due to ACCIDENT only
>> Death.
>> (PTD) Permanent Total Disablement.
>> (PPD) Permanent Partial Disablement.
>> (TTD) Temporary Total Disablement.

Extensions:

>> Repatriation Expenses.
>> Medical Expenses.

Major Exclusions:

>> Intentional self-injury, suicide etc.
>> Specified Hazardous activities.

Other Points:

>> Sum assured as required subject to justification based on Annual Income and Net worth.
>> Premium will depend upon the occupation, age of the insured and benefits opted for.

Information Required:

>> Names of person, age, occupation and sum insured required.

Coverage:

>> Death due to both Accident and Natural causes

Extension:

>> Permanent Total & Partial Disability due to accident or sickness.

Other Points:

>> Sum Insured is generally related to salary – it is fixed as a multiple (say 12 months / 24 months / 36 months of the salary).

Information Required:

>> Names of the Employees to be covered, Designation, Date of Birth, Monthly Salary and Sum Assured for each employee.

Coverage:

Legal liability of the insured to third parties arising out of their business for:
>> Loss or damage to third party property.
>> Death / Injury to third parties.
>> Legal costs and expenses.

Exclusions:

>> Contractual Liabilities
>> Product Liability
>> Performance Guarantees
>> Professional Indemnity
>> Automobile Liability
>> Marine Liabilities

Required:

>> Nature of Business
>> Number of Locations to be covered
>> Limit of Liability
>> Annual Turnover

Coverage:

>> The amounts for which an employer is liable to his employees under labour law.
>> The law stipulates compensation payable by an employer to the employee due to work related accident or occupational diseases.
>> For death, the compensation prescribed is 24 months basic salary subject to a minimum of Dhs 18,000/- and maximum of Dhs 35,000/-.
>> For disabilities also the law provides for compensation.

Extensions:

>> Employer’s Liability
>> Medical Expenses
>> Repatriation Expenses
>> 24 Hours Personal Accident
>> Employee to Employee
>> Hernia / Sunstroke

Exclusions:

>> Natural Death / or Natural Diseases
>> 1st day of disability
>> Suicide or attempted suicide or intentional self-injury
>> Hernia / Sunstroke (can be covered as an extension)>

Points:

>> Premium calculated on estimated annual wages.
>> Premium rate will depend upon the type of cover, nature of duties of the employees to be insured.

Required:

>> Nature of Business, Nature of Job/Occupation of the employees to be Insured with Estimated Annual Wages with Onshore/Offshore split if applicable.
The people being insured under this policy should not only be restricted to cashiers but should be extended to cover any employee who is in a position to defraud the company by manipulating goods and or cash in any manner.

Perils Covered:

>> Any financial loss as a result of Forgery or Embezzlement, Larceny and or fraudulent conversion by an employee of the company, of monies or goods of the insured.

Important Conditions:

>> Any act of forgery etc. must be discovered not later than six months after the resignation, dismissal, retirement or death of the employees and not later than three months after the termination of policy whichever be the earlier. Passports of employees concerned must be in the custody of the Insured.

Important Exclusions:

There will be no liability:
1. If any material fact is misstated at the time of effecting the policy.
2. If precaution and checks for securing accuracy of accounts shall not be duly observed and put in practice.
3. If there is any change in the circumstances and conditions of the said employment without prior approval of the insurance company.
List of all employees covered under this policy and limits of cover should be only made available to management and concerned Financial and Operations Managers.

Perils Covered:

>> Loss of money in course of transit or from locked safes or strong room in insured’s premises.

Definition:

>> Money shall mean cash, bank notes, cheques, postal orders, money orders, postage stamps, gold foreign currency, cash cheques and traveller’s cheques.

Important Condition:

>> Insured shall take all ordinary and reasonable precautions for the safety of the money.

Important Exclusions:

>> Theft, embezzlement, breach of trust or other fraudulent, unlawful or criminal act on the part of any of the insured’s employees.
>> Loss from any unattended vehicle.
The policy covers medical expenses due to both inpatient and outpatient treatment due to both accident and sickness.
The types of medical expenses generally covered are:
>> Room Charges
>> Operation Theatre Charges
>> Diagnostics / Laboratory
>> Consultants Fees / Specialists Fees
>> Drugs & Medicines

Points:

>> The Policy has an overall limit and sub-limit for outpatient and some of the benefits.
>> The Geographical area for which cover is needed is another important point.
>> Normally cover is granted for UAE without any restriction and native country for emergency during business visit and vacation. Variations of geographical area covered is possible depending upon client requirement.
>> Cover for Dental Treatment is available only for accidents – Dental treatment due to sickness is an optional cover available at additional premium.
>> Cover for maternity is an optional cover available at additional premium.
>> There are two types of claim settlement either direct billing with network of hospitals or on reimbursement basis.

Exclusions:

>> The most significant is pre-existing ailments – but for large groups cover against pre-existing diseases is possible.
>> There are a number of other exclusions like chronic conditions, alternative systems of medicine etc.

Information Required:

>> Name of Employees and/or Dependants to be covered, Designation, Date of Birth, Nationality, Annual Limit/Sum Insured.
>> Geographical Area to be covered.
>> Deductible Required in the policy.

Our Senior Management Profile:

Mr. Debabrata Chanda
Partner


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Mr. Debasis Basu
Chief Executive Officer


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Mr. Saurabh Saraf
Finance and Administration Manager

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Mr.Kuldeep Bhadekar
Vice President


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Mohammed Farid Shaikh Relationship Manager

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Contact Us:



RELIANCE INSURANCE BROKERS LLC
Office No. 103, A1 Kifaf Building (Avenue Building) Opposite Burjaman Centre, P.O. Box. 120830, Dubai. UAE