The bulk drugs and pharmaceutical industry is facing more and more risks due to technological development, and innovative research and development. They are in a process of fueling economic growth and improving standards of living worldwide. These areas include companies in the biotech, medical device, diagnostic and pharmaceutical fields.
Worldwide Insurance Brokers is dedicated to addressing the specific needs of the industries in this sector and is endeavoring to provide them with expert assistance and advice.
Insurance Policies
Standard Fire and special perils Policy
This policy covers the loss or damage arising out of fire and allied perils to the Building, furniture and fixtures, machinery, electronic equipment, stocks and other contents in the premises of the factory and the office building.
Burglary and Housebreaking (Business premises) Policy
This policy covers loss or damage to property like stock, stock-in-trade, goods in trust, plant and machinery, fixtures, fittings, cash or valuables in strong-rooms or safes by theft following burglary (felonious entry or exit from the premises by violent and forcible means).
Electronic equipment Policy
This is an all risk policy which covers electronic equipment like computers, UPS, Audio video equipment, printer, faxes, other electronic/microprocessor equipment used in the factory/office.
Machinery breakdown policy
This policy is taken for all the machinery (electrical/non electrical) available in a factory. This cover is against unforeseen and sudden damages caused to the insured machinery.
Fidelity Guarantee Insurance
This policy reimburses for direct pecuniary loss due to acts of fraud or dishonesty or forgery or embezzlement committed by any of the Insured's employees in connection with his/her occupation during the uninterrupted continuance of employment.
This policy provides cover against loss of money in transit, by the insured or Insured's authorized employee(s) occasioned by robbery, theft or any other fortuitous cause also covers loss by burglary of house breaking whilst money is retained at Insured's premises, in safe(s) or strong room.
Marine Insurance
The Marine Insurance cover starts right from the movement of goods/Raw Material leaves the foreign/Indian manufacturer's warehouse and remains continuously in force during voyage/inland transit to the site/ware house /factory.
Credit Insurance
This policy is taken to help protect the company's commercial accounts receivable from the devastating effects of loss caused by the insolvency or protracted default of the buyers.
Public liability Insurance
This policy is taken for indemnifying the manufacturing/formulations company against his legal liability to pay compensations including claimant's costs, fees and expenses in respect of injury/damage arising out of accidents to third parties.
Product Liability Insurance
The policy indemnifies the company against claims arising out of accidents out of any defects in the products causing damage or pollution to third parties life or property.
Clinical Trial liability Insurance
The policy indemnifies the company/industry against costs liable to pay as damages or compensation and claimants costs and expenses in respect of any Claim made by Research Subjects for Bodily Injury caused by an Occurrence happening after the Retroactive Date within the Policy period and arising out of the Business of the company/industry.
Directors and Officers liability Insurance
This policy covers the Legal liability of Directors and Officers of a company holding positions of trust and responsibility to pay damages to shareholders, employees, creditors, etc., of the company for wrongful acts committed by them in the supervision and management of the affairs of the company
General Exclusions to the policy are Dishonest fraudulent criminal or malicious act, Personal guarantee, Libel and slander and damage to property, Pollution damage, and Violation of any Law.
Group Personal Accident Policy
This policy covers Accidental death or bodily injury caused solely by violent, external and visible means or loss resulting directly and independently for all other causes from bodily injuries caused by an ACCIDENT.
Group Mediclaim Policy
This policy covers Group/Association/Institution/Corporate Body of more than 50 persons provided it has a central administration point. The coverages are Hospitalization expenses only for illness/diseases contracted or injury sustained, Room, Boarding expenses as provided by the Hospitalization/Nursing Home, Nursing Expenses, Surgeon, Anesthetist, Medical Practitioner, Consultants, Specialist Fees Anesthesia, Blood, Oxygen, Operation Theater Charges, Surgical Appliances, Medicines and Drugs, Diagnostic Materials and x-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs and Cost of Organs and similar expenses.
Workmen's Compensation Insurance
This policy provides cover to employee in the immediate service of any organization who sustain personal injury by accident or disease arising out of and in the course of employment in the business and if the employer are liable to pay compensation for such injury illness under W.C. Act, 1923, Fatal Accidents Act, 1855 or at Common Law.
Motor Vehicles Policy
Motor vehicles registered under MV Act and move on the roads has to be insured under motor vehicles policy compulsorily for 'Liability to Public' risks and option to insured for own damage of the vehicle.
