What is ICEA LION Business insurance (BIZBORA)?

Like many other entities, businesses are prone to certain occurrences that if unmanaged can bring about a huge financial burden that could easily wipe away a lifetime of sweat and investment. ICEA LION’s Business Insurance (BIZBORA) is a simplified insurance policy that brings together seven insurance solutions to enable you as a business owner or operator to protect your business against such occurrences. Based on your assessment of the risks your business is prone to, you can select the insurance cover or covers that suit you from the options offered under the BIZBORA combined solution

What Are Some Of The Benefits Of Our ICEA LION Business Insurance (BIZBORA)?

  1. You can select from a wide range of options: We offer you a selection of insurance options relevant to you as a business owner to protect your business against a wide range of risks.
  2. You can tailor-make your insurance solution: We work with you to assess your business risks and combine your selected options into a tailor-made, single-package policy that best serves your business.
  3. Ease & Convenience: You are able to pay a single premium for the options you select, get one policy document and have a single view of all your business insurance.
  4. Covers Small and Medium-Sized Businesses (SME): It takes care of all your non-motor business insurance needs. This insurance is suitable for you if you have retail outlets such as boutiques, bakeries, grocery stores, cyber cafes, electronics shops, butcheries, salons and barber shops, eateries amongst others.

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We also compensate you for the accidental loss or damage to portable property that you use outside the premises to run your business, if you take up Section C: All Risks. This can include all office electronic equipment (including servers, desktop computers etc), laptops, mobile phones, projectors, camera equipment, workshop tools and so on.

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Overview of Key Features of our ICEA LION BUSINESS insurance (BIZBORA)

Section A: Fire & Perils:

You can take this up if you are the landlord of a building or a section of a building used for business. It is also suitable for you if you have rented space for business as a tenant.

Section B: Burglary:

This option compensates you for any loss or damage to property you have insured as a result of theft or attempted theft accompanied by visible, forcible and violent entry or exit. 

Section C: All Risks:

Under this category, we will compensate you for the accidental loss or damage to portable property that you use outside the premises to run your business. 

Section D: Public Liability:

This section covers you as the business owner, or your business itself against legal liability to third parties. A third party in this case is any person other than a member of your business working for you.

Section E: Money:

This option provides you with cover in the event of loss of your money whilst in direct transit to or from the bank or within your premises, including damage to safes and strong-rooms caused by theft or any attempted theft. 

Section F: Work Injury Benefits Act 2007 (WIBA):

In this category, we will take up any legal costs under the Work Injury Benefit Act (WIBA) 2007 arising out of accidental death, bodily injury or illness/disease to your employees or apprentices as result of or in the course of employment.

Section G: Employers Liability:

This section provides compensation to you as an employer, for any amounts you become legally liable for under common or statutory laws including the cost of defending yourself. 

What other important information should I know about Business insurance (BIZBORA)

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What Other Types Insurance Does ICEA LION Have?

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