SERVICES / PRODUCTS

F I R E

All Risks Insurance:

Fire and Allied Perils Insurance:

[Fire and Allied Perils Insurance provides comprehensive cover in respect of loss of or damage to property against fire, lightning and explosion of boiler or gas works used for domestic purpose only. To further safeguard the interest of the insured, the policy can be extended to cover riot and strike damage, malicious damage, flood, cyclone, earthquake (fire and shock), explosion, impact damage, aircraft damage etc. on payment of additional premium].

Consequential Loss Due to Fire:

[A fire might do very little damage to the buildings or the contents, yet the interruption of business might be very significant. Consequential Loss Policy indemnifies the insured for loss of net profit, standing charges and increase in cost of working expenses resulting from an accident identifiable under fire and allied perils insurance policy].

Household Insurance:

[To live in one's own home is cherished by every one of us. But it is very hard to retain a house, which is exposed to several risks such as riot and strike damage, malicious damage, atmospheric disturbance, earthquake, explosion, impact damage etc. Pioneer provides an insurance protection to cover the interest of homeowners. The coverage is available on building as well as on contents. The coverage for buildings includes the risks of fire and all dry/wet perils. Contents (including jewellery and cash) are similarly covered including the risks of burglary and dacoity.  

Besides material damage, Household Insurance also provides loss of rent, legal liability to public and domestic servants].

Hotel Owners All Risks Insurance:

[This is specially designed to cater to all the insurance needs of a hotel owner. This policy has been adapted from the wording prevalent in international markets; as such coverage provided by it meets the requirements of management agreements, which owners usually enter with international chains of hotels. This insurance provides protection against material damage due to fire and allied perils, business interruption following material damage, loss or damage to plate glass, boiler and machinery breakdown, business interruption following machinery breakdown, comprehensive general liability, and Workmen's Compensation].

Industrial All Risks Insurance:

[ All Industrial Risks having overall sum insured of Taka 200 million and above in one or more locations in Bangladesh shall be eligible for Industrial All Risks Policy. The Insurance provides comprehensive cover in respect of loss of or damage to property against any risk not specifically excluded by the policy wordings. Machinery Break Down and Business Interruption following material damage and or machinery breakdown can be covered on payment of additional premium].

Terrorism Cover:

[Post September 11, 2001scenario resulted in removal of terrorism cover globally, leaving the insured at a difficult juncture. Considering the need of our valued clients we have arranged protection for loss or damage due to terrorism This cover is issued in conjunction with Fire and Allied Perils Policy protecting the interest of the insured up to a specified limit].

M A R I N E.

Marine Cargo Insurance:

[Marine Cargo insurance protects all goods while in transit depending upon the needs of the client. For sea and air transits, the “Institute” Clauses, drafted by the Technical and Clauses Committee of the Institute of London Underwriters are adopted for use in Bangladesh. Three broad types of cover are available for sea transit i.e. Institute Cargo Clauses "A", "B" & "C" and two types of cover are available for air transit i.e. Institute Cargo Clauses, Air &, Air All Risks . On the other hand Transit by rail and road are covered either by Rail/Lorry/Truck only or Rail/Lorry/Truck All Risks Clauses drafted by Central Rating Committee of Bangladesh].

Marine Hull Insurance:

[This cover is available for ocean going vessels, barges, tugs, dredgers, fishing trawlers, yachts, wooden dhows, pleasure/speed boats etc., under Institute Time Clauses Hulls. Cover is also provided for last breakup voyages to Chittagong].

M O T O R

Comprehensive Insurance:

[Covers loss or damage to the motor vehicle and or its accessories whilst thereon by fire, explosion, self ignition, lighting, burglary, housebreaking, theft, riot & strike, malicious damage, terrorism, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, accidental external means and whilst in transit by road, rail, inland waterway, lift, elevator or air.

Also cover Act. Liabilities viz, death/bodily injury and damage to properties as per Motor Vehicle Amendment Act, 1991].  

Act Only Liability Insurance:

[Cover Act. Liabilities viz, death/bodily injury and damage to properties as per Motor Vehicle Amendment Act, 1991].

Increased Liability Insurance:

[Cover liability in excess of no fault liability limits viz. BDT. 20,000 (max) for death or bodily injury and BDT. 50,000 (max) for property damage under Standard Comprehensive and Act Only Liability insurances]. 

E N G I N E E R I N G

Contractors All Risks Insurance (CAR):

[The basic concept is to offer comprehensive and adequate protection against loss or damage in respect of the contract works, construction plant and equipment and/or construction machinery, as well as against third party claims in respect of property damage and/or bodily injury arising in connection with the execution of a construction project]. 

Contractors Plant & Machinery Insurance (CPM):

[This is an insurance of contractors' plant and machinery on an annual basis. It covers any loss or damage occurring at works, at rest or during maintenance operations and is limited to a specific construction site]. 

Deterioration of Stock Insurance (DOS):

[Deterioration of Stock in Cold Storage insurance is designed to meet the requirements of those who want to insure their stocks against deterioration due to temperature rise while in cold storage as a result of breakdown of refrigerating machinery provided such machinery breakdown loss is identifiable under the machinery insurance policy]. 

Electronic Equipment Insurance (EEI):

[This insurance provides cover for loss or damage to all electrical systems/ equipment which generally have only a moderate power requirement while such equipment is at work, at rest or during maintenance operations. The Policy also covers cost of External Data Media and Increased cost due to loss or damage to system].   

Erection ALL Risks Insurance (EAR):

[This branch of Engineering Insurance offers comprehensive and adequate protection against all the risks involved in the erection of machinery, plant and steel structures of any kind as well as third party claims in respect of property damage or bodily injury arising in connection with the execution of an erection project]. 

Machinery Insurance (MB):

[It is designed to Provide effective insurance cover for plant, machinery and mechanical equipment at work, at rest or during maintenance operations]. 

Machinery Loss of profit Insurance (BI MB):

[Machinery Loss of Profits insurance provides cover for the actual loss of gross profits (i.e. net profit and standing charges) and/or increased cost of working sustained as a result of a business interruption caused by an accident identifiable under Machinery Insurance].

MISCELLANEOUS INSURANCE

All Risks Insurance:

[This policy provides all risks coverage to property pertaining to industries against loss and/or damage due to any accident or misfortune].

Aviation Insurance:

Pioneer is capable to offer this insurance in three broad sections;

Loss or damage to aircraft i.e. Hull insurance

Liabilities insurance

Hull War and related perils.  

[Under hull insurance, the insured is indemnified for loss of or damage to insured aircraft. Liabilities include third party, passengers, cargo and mail. Hull War and related perils include coverage against hi-jacking, extortion and political risks also].

Cash /Property in Premises :

[This policy provides coverage to cash/property whilst on premises against loss by theft arising due to actual forcible and violent entry upon the premises].

Money/Cash in Transit Insurance Policy:

[This policy provides coverage against loss of money whilst in transit due to forcible, violent, external and visible means].

Cellular Mobile Phone Insurance:

[A mobile phone has become a significant part of our life. This exceptionally important item has become a necessity for us and is exposed to risks due to the nature of its usage. In consideration of the importance attached with mobile phone and the hazards associated with it, we offer Cellular Mobile Telephone Policy that provides financial compensation for the loss/damage to the mobile phone by Fire, Violent theft, armed hold-up, Robbery etc.].

Directors and Officers Liability Insurance:

[Pioneer Insurance Co. Ltd. is capable to provide Directors and Officers Liability Insurance (D &O). This policy provides coverage to Directors or Officers of the company for loss arising from any claim made against them due to any wrongful act committed in the capacity of Directors or Officers of the company].

Fidelity Guarantee Insurance:

[This policy provides coverage to the employer for pecuniary loss sustained by an act of fraud or dishonesty committed by the employee].

Energy Risks Insurance:

[This insurance is provided under four (04) sections Onshore/Offshore property Drilling Equipment Onshore/Offshore Operator's Extra Expenses:

Part A-Control of Well
Part B-Redrill/Recompletion
Part C-Clean-up and Pollution, Contamination, Seepage.

Third Party Comprehensive Liability.

Hole in One Golf Tournament Insurance:

[This policy provides compensation to the organizers of the golf tournament, for the reward/prize money paid to a player of the golf tournament who hits a golf ball from the tee to the hole in one stroke].

Neon Sign Policy:

[This is an all risks coverage, providing financial compensation to the insured for the damage to the Neon Signs installed in public places].

Personal Accident Insurance:

[This is a worldwide coverage that provides financial compensation in case of death or loss of limb or bodily injury to the insured resulting in temporary or permanent disablement, partial disablement or total disablement].

Plate Glass Insurance:

[This Policy provides all risk coverage against breakage or destruction of glass due to any accidental means].

Products Liability Insurance:

[Pioneer Insurance offers a legal liability policy, which provides financial compensation to insured for his legal liability towards illness, injury, loss and damage to third party caused by anything harmful or defective in goods supplied by the insured. This policy is most suitable for manufacturers of consumer goods].

Professional Indemnity Insurance:

[This policy covers liability of the insured firm against any claim arising due to breach of professional duty as Accountants, Doctors, Engineers, Consultants, Surveyors etc.].

Public Liability Insurance:

[There are instances where the interest of others may be jeopardized by the insured while performing his duties. Pioneer Insurance provides cover, under its Public Liability Insurance, for liability arising due to death of or bodily injury to any third party person and/or damage to the property of any third party].