UAIL provides three different types of policy in this Insurance:
Property Insurance Policy is a comprehensive policy that covers properties such as Buildings, Factories, Shop, stocks, Showrooms, Hospitals, and other forms of assets against natural perils such as Fire and lightening related, Storm-related, Water-related, Land related, Subsidence related, Explosion related, Riot, Strike &Terrorism related risks.
UAIL Property insurance provides protection against most risks to property, such as fire, theft, and some damages due to natural calamities. This includes specialized forms of insurance such as:
Any strong building can collapse just within a few secs and there's nothing we would be able to do about it. People around us would only watch the creation of our hard work crumble whatever the reason may be. Friends and Families are always there when the time is good but only the Insurance Company will be there when the time goes wrong. Therefore, in order to reduce your stress and secure you from all the financial burden, we introduce Sampati Bima.
Started from 15th January 2019
liability restricted to the liability described in (ii) above and not the insured's vehicle, the policy can be extended to cover the following perils on payment of additional premium: Flood, Earthquake, Strike, Riot Damage, etc.
Comprehensive - includes any loss or damage to the vehicle by: -
Accidental external means
Fire, external explosion, self-ignition, lightning, burglary, housebreaking, or theft.
Whilst in transit by road, rail, inland waterway, lift or elevator, and;
The insured's liabilities to the third party both in respect of bodily injury and properties of the third party.
The only thing certain in life is uncertainty. The future is full of uncertainties and one can never be certain of what the future holds for us. Even with enough precautions and preventions, accidents and financial loss cannot be omitted at times that can result in life-changing misfortune to oneself and others. As of a recent tragic incident, an earthquake shook the nation where many lives were lost and the financial burden came upon the innocent people. With the growth of infrastructure and development, the risks have also increased at an alarming rate.
Taking into consideration, the ever adding number of vehicles in the congested roads of our country, the chances of accidents and damage to one’s vehicle is almost inevitable and beyond the control of oneself. Each day uncountable accidents occur around the nation causing loss of lives and huge financial loss.
Started from 1st December 1993
UAIL provides Marine Cargo Insurance for overseas & inland transit of goods whilst in transit by Ship, Air, Rail or Road. This insurance can also be extended to cover all risks of malicious act as per the institute cargo clauses.
Your cargo is exposed to a wide range of risks whilst in transit. Accidents, damage by water or fire, improper stowage by the carrier, and theft or pilferage are all potential risks to your cargo. Marine insurance covers the losses or damages caused to ships, terminals, and any transport or cargo by which goods are transferred, acquired, or held between different points of origin and final destination.
UAIL Marine Insurance policy offers complete insurance coverage for your goods while in transit. Marine insurance is a haven for transporters and shipping corporations because it helps to lower the aspect of financial loss due to cargo loss. It covers transit by any modes of transit like sea transit, inland waterways, land transit by road/rail vehicle, and transit by air. The scope of cover depends upon the type of clauses attached to the policy. Mainly these clauses can be grouped under three categories:
Started from 1st December 1993
Personal Accident Insurance
This Policy covers the financial loss that may arise as a result of an accident caused by external violence and visible means causing death or disablement by bodily injury. In the case of Comprehensive Personal Accident Insurance, it covers Temporary Total Disablement and Medical Expenses up to fixed limits. Besides, the Policy is extended to cover the risk of Trekking, Mountaineering, Expeditions, Rafting, Commercial Flights, etc. However, this policy does not cover the chartered flights.
Cash in Transit Insurance
This Policy cover provides an indemnity in respect of loss of money carried by authorized messengers whilst in transit from one to another, specified in the Policy due to robbery, loss caused by the accident of vehicle and airplane. This insurance is intended for Banks, Industrial, Manufacturing, and other business concern who periodically withdraw large sums of money for payments of salaries and for other day - to day transactions from banks or other sources.
Burglary & House - Breaking Insurance
This insurance is intended to cover the contents of premises against loss or damage by burglary and/ or housebreaking. Here the Burglary and House- Breaking is defined as theft, involving entry to or exit from the insured premises by forcible and violent means.
Fidelity Guarantee Insurance
This insurance is intended to provide an indemnity to the employer for financial loss sustained as a result of forgery, embezzlement, and larceny or fraudulent conversion of money of the employer committed by salaried employees in the course of performance of their duties. The maximum liability under the policy will be the amount of guarantee.
Banker's Indemnity Insurance
This insurance provides an indemnity to the Bank in respect of the following risks:
International Travelers Medi-claim Insurance
In view of the increasing need for medical insurance for Nepalese going abroad, UICL has introduced "International Medi-claim Policy" with a wide coverage of personal accidents at a moderate premium rate for medical emergency expenses, hospital expenses, loss of checked baggage, passport and third party liability.
The Policy could also be procured by the students going abroad for further education.
Group cum Family Hospitalization Insurance
This insurance is intended to provide benefit by way of reimbursement of expenses incurred by the insured towards hospitalization including accommodation and nursing attendance, fees for surgeons, and other special services. Domiciliary/ Hospitalization. I.e. treatment normally requiring hospitalization but where proper treatment is received at home, the same is also covered by this policy. This policy is designed for the requirement of hospitalization insurance for both the corporate & general public.
It includes a variety of risks such like personal accident insurance, fidelity insurance; travel medical insurance, burglary and housebreaking, group personal accident, cash in transit, money insurance, bankers blanket indemnity, professional indemnity, general public liability, product liability, medical insurance ( hospitalization), All risks, workmen compensation and personal accident for trekking(expedition).
Started from 1st December 1993
Our Travel Insurance covers:
A person’s life is exposed to different kinds of risks and emergencies relating to his/her health. One can fall sick or suffer from unexpected medical emergencies anytime. Plus, for someone leaving his/her country for a business purpose, studying, or for other purposes, it becomes unbearable as the financial burden in a foreign land can be too expensive to cope with. Medical and Emergency expenses in many European and Western countries are very expensive. Not only risks associated with health but financial losses like loss of baggage, delay of baggage, loss of passport, delay of travel, etc. can disrupt the planned trip of our valued customers adding extra burden when traveling.
UAIL Travel Medical Insurance provides you a genuine & absolute cover while you are traveling around the world. This policy covers medical emergency, accidents, or personal liability to the person leaving his/her home country or whilst traveling around the globe. UIC assures you to provide a reliable cover against any sudden illness, accident, or injury to the insured when traveling. Let us take responsibility for the risk and maintain a stress-free and happy journey for you.
Contractor's Plant and Machinery
This type of policy includes damage or losses of expensive machinery, for a construction contracting business. This insurance protects the business from these losses. This insurance cover on partial or total damage to equipment or machinery, Insured plant, and machinery for any physical damage by any cause (unless specifically excluded), covers all insured items whether at work, rest, or being dismantled for cleaning and overhauling or in the course of the aforesaid operations themselves, or when being shifted within the premises, or during subsequent re-erections but in any case only after successful commissioning.
Electronic Equipment Insurance Policy
This type of policy provides complete coverage for electronic equipment which includes physical loss or damage to all the electronic equipment, whether the in secured items at work or at rest or being dismantled for the purpose of cleaning, overhauling or of being shifted within the premises or in the course of the aforesaid operations themselves or during subsequent re-erection but in any case only after successful commissioning.
Contractors All Risk
This type of policy provides coverage for property damage and third-party injury or damage claims which include improper construction of structures, the damage that happens during a renovation, and damage to temporary work erected on-site. Third parties, including subcontractors, if they get injured while working at the construction site.
Erection All risk
This type of policy provides coverage to the risk of loss which arises out of the erection and installation of machinery plant and steel structures, including physical damage to the contract works, equipment and machinery, and liability for third-party bodily injury or property damage arising out of these operations.
Marine cum erection
This type of policy provides coverage to principal and contractors and also to the manufacturers and suppliers erecting machinery and plants against financial loss due to any sudden unforeseen cause resulting in loss or damage to the property insured at the project site whilst being stored erected, tested and commissioned.
This kind of insurance is the ideal cover Loss or Damages to different kinds of construction projects such as buildings, roads, bridges & other civil constructions. This Policy covers the policyholder against any unforeseen and unexpected physical loss or damage from any cause. It also provides full coverage protections against risk related with an erection all risk, contractors all risk, working of any machinery, plant or equipment, electronic equipment, machinery break down, boiler/ pressure plant insurance, Marine cum erection, loss of profit(machinery), contractor all risk, etc. Some types of engineering insurance policies are:
Started from 1st December 1993
UAIL provides Agriculture insurance under the following categories:
Agriculture Finance Institutions have been focusing on providing savings and credit services only. However, a growing number of Mirco Finance Institutions practitioners have recognized that providing credit is not enough for the sustainable development of the poor.
A heartfelt requirement for other financial activities like insurance and allied services alongside savings and credit services has been noticed.
Formal insurance services are not accessible to the poor because of high premiums and complicated procedures.
The poor in Nepal like any other less-developed countries are vulnerable to different types of risks and adopt various strategies to reduce the impact of the loss. Insurance services are very essential for low-income households to cope with uncertainties and emergencies like illness or injury, death, natural disasters, theft, and life cycle needs.
Agriculture-insurance helps the poor combat the vulnerability caused by exposure to such unacceptable risks. By pooling into a risk fund to mitigate stipulated perils like illness, loss of assets, death, and widowhood, the poor can protect themselves from unexpected loss. Thus, the Insurance of lives and livelihoods is important for the risk-prone economic life of the poor.
Started from 20th May 2014