The insurance policy covers when the product that the manufacturer,
the dealer, the supplier, the importer, the exporter, and
those involved will have to be responsible for, finds mistakes
and damage, causing damage and loss physically and financially
to the consumer.
Mistakes
that may occur to the product and will be covered
by the insurance :
1.
An incorrect design from the stage of product design
and the raw materials used
2.
An error in production stage e.g. incorrect
ingredients
3.
Misinformation in term of labeling
of the instruction, cautions, and general recognition
in using the product from the manufacturer, dealer,
supplier, importer and exporter
Insurance Premium Specification
1.
Type and sort of product
2.
Coverage duration
3.
Maximum insurance premium for compensation
and the amount of the first portion which is responsible
by the insurance holder.
4.
Conditions and exceptions
5.
Total circulation or total products
per annum
6.
The ratio of exported product and its
circulation
7.
Damage background
The Management of
the Insurance Holder and its Agent regarding Director’s
and Officers’ Liability
Insurance (D&O) :
Directors’ and Officers’ Liability Insurance (D&O)
is an insurance policy that the agent compensate for
the loss, for instance, damage and expense as indicated
by the court, or as negotiated with the injured person.
The compensation begins when the agent agrees with
the pursuit fee and expense.
The cause of the compensation claim is due to the
wrongful action of the insurance holder as being director
and officer.
The professional liability insurance policy covers financial
loss to the insurance holder. The insurance compensates
loss and damage to the injuries by the court’s order and
the pursuit fee. The rationale could be of the following
reasons:
1.
Claim for damage and loss from the malfunctioning
of the insurance holder
2.
Claim for damage and loss from intellectual
property infringement
3.
Claim for damage and loss from libel
and defame
4.
Claim for damage from dishonest act
of officer, in case of an accusation; this including
the following occupations: solicitors, accountants,
spa and beauty salons, travel agency, marketing and
advertising consultant, personnel recruitment, translation,
school and educational institution, and computer and
information technology consultant business.
Major
information of the insurance agent (agency) seeks
to calculate for correct insurance premium includes
the following :
1.
The date the business commences
2.
Scope of business and service
3.
Gross per annum
4.
The number of professional
staff
5.
Information of service
location
6.
Claim history
7.
History of
previous professional insurance policy, and objection
from insurance agent
This type of insurance covers the loss and damage
to “outsider” including the “damage to property” or
“physical injury” that the insurance holder is liable
for. The loss and damage may result from infringement.
The insurance covers only claims for carelessness
from the holder’s property e.g. pets, houses, or machines
that cause damage or loss to other individuals. The
insurance also covers the action of the insurance
holder’s successor, employee, or representative that
infringes other individuals.
This type of insurance policy covers in various forms,
as specified by the agent. It mostly covers for the
following issues:
-
Accident from
incorrect design: a continuing action from an
incorrect design, and occurs after the expiration
of the manufacturer’s guarantee, which cannot
be claimed from the manufacturer
-
Accident from
molding or the use of unqualified materials
-
Accident from
the lack of skill or the carelessness of the
machine controller: the machine controller is
sometimes not qualified with knowledge and experience
to manipulate the machine, or the carelessness
from concentrating on the machine control
-
Electrical short
-
Physical explosion,
machinery leak, or the lack of lubricant in
the boiler, causing too much pressure to explode
This type of insurance policy is categorized into
3 groups.
1.
Building and Civil
Engineering Works: the insurance covers damage
or loss that occurs from any incident unexceptional
from the insurance policy. This type of insurance
policy is mainly provided to construction and
civil engineering work, such as, construction
of office, department store, guesthouses, bridges,
airports, dam, and road.
2.
Machinery Erection:
the insurance covers damage or loss of the machine
and equipment installation, for instance, machine
erection, elevator installation, air conditioning
system, electricity system, water supply, and
telephone wire connection system.
3.
Third Party Liability:
the insurance covers injury or death, including
damage or loss of the third party, from the
incident in item no. 1 and 2 above.
Car insurance in Thailand is categorized into 4 types
as follow.
First
Class:
Covers damage to the insured car, including
steal and fire. This first-class insurance covers
the damage and loss to both parties’ life and
property, when the insurance holder is found
guilty with carelessness.
Second
Class:
Covers stealing and fire-caught car. This insurance
covers the damage and loss to both parties’
life and property when the insurance holder
is found guilty with carelessness.
Third
Class:
Covers nothing to the insured car. This insurance
covers the opposing party for life and property
when the insurance holder is found guilty with
carelessness.
Fourth
Class:
Covers nothing to the insured car. This insurance
covers the opposing party for life and property
when the insurance holder is found guilty with
carelessness, with limitation of the budget
to no more than 100,000 Baht.
Just fax us your insurance policy to 02-255-9680 with
your name and contact number, we will accommodate
you with the best insurance premium you are most satisfied
with.
Household
Fire insurance for household covers 6 types
of fire: fire, lightning stroke (including electric
short), explosion (all types), fire from third
party’s vehicle, risk from aircraft, and risk
from sea.
Building
Fire insurance for building covers only to the
fire, lightning stroke, or the explosion of
gas for lighting or cooking in household.
is an insurance that starts covering from the departure.
It mainly covers loss of life, body organs, vision,
permanent disability, and hospitalizing fee.
PA is an insurance plan that mainly covers the following
items:
-
The
Loss of Life: the insurance holder will be compensated
when he dies of accident.
-
The
Loss of Body Organ and Vision: this includes
the loss of hands, feet, vision, and other parts
of body, or permanent disability of the insurance
holder.
-
Actual
cost of hospitalization but not more than the
insurance premium
-
Individual
-
By group
For more information please contact : Hotline 086-844-1313
