Professional Indemnity

As The Bahamas becomes more sophisticated and more litigious, the demand for this type of cover is continuing to grow. Further, more classes of professions are becoming required by Statute to take out and maintain this type of cover, for the protection of their clients and the public at large. Premiums Your premium is usually […]

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Money

Most businesses will require insurance on their Money, which includes cheques (except pre-signed blank ones), postal and money orders and current postal stamps. Cheques are included in the definition for your complete protection, although their loss should not usually result in any money loss to you. Premiums The premiums will depend on the type of […]

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Bonds

A bond is not an insurance policy, having some fundamental differences from it. An insurance policy is an agreement between two parties only, the Insured and the Insurer whereby, in return for a premium, the Insurer agrees to pay claims should the event insured against occur. A bond, however, involves three parties: The contractor, who […]

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Fire and Perils

This is the main material damage cover (see the next section for Loss of Profits) required by businesses, protecting the buildings and contents against a variety of perils. Perils To Be Covered While there is the understandable perception that the main threats to the assets of any business doing business in The Bahamas are fire […]

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Loss of Profits

This type of cover is also known as Consequential Loss or Business Interruption. The Fire & Perils policy excludes consequential loss, so a separate Loss of Profits policy is required. Loss of profits following a major loss, like a fire or hurricane, is often responsible for putting a business out of operation if Loss of […]

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