INSURANCE CORPORATION OF AFGHANISTAN

The first local provider of Insurance Services in Afghanistan.

Your company now has the option of transferring ALL TYPES OF RISK that you face operating in Afghanistan to the larger pool of businesses operating world wide through insurance.

Headquartered in Kabul ICA is the first privately owned insurance company offering a full range of insurances with an international style and standards of service.

We are backed by the premier international insurance market based in London.

All the major insurers around the world are clustered around Lloyd’s of London.

Security is assured from top rated organisations.

It is fact that Lloyd’s has never failed to pay a valid claim over it’s 300 year history.

ICA looks forward to fulfilling your insurance needs.  

What type of insurance is available.

• Contractors – Covering the full range of contractor’s risks and liabilities. Single projects can be insured for up to $60 million US dollars.
  
• Workers Compensation (DBA) – Meets requirements of U.S. Government contracting agencies (Army Corps of Engineers, USAID, U.S. Army and others).
  
• Cargo – Both in- and outbound transits on a door to door basis. Single transit limit up to $10 million US dollars.
  
• Aviation – A full range of covers that comply with the demands of international aviation authorities.
  
• Property – Asset protection for buildings, plant and contents. Up to a $2 million US dollar arrangement with the facility to provide cover at much higher levels, case by case.
  
• Liabilities – Covering legal liability towards third parties and employees, both property damage and personal injury following an accident.
  
• Personal Accident – A range of scheduled benefits for death or injury following an accident.
  
• Group Life and Health – Group covers for a specified benefit following death by natural causes and medical insurance.
  
• Travel – Group schemes for trips to other countries, a range of benefits including medical expenses, personal accident and legal liability.
  
• Specialist – Covers tailored to the requirements of specialist businesses and establishments, such as banks, security companies, telecoms, ex patriots and Government.
  
  

What Does Lloyds Insurance Mean to You

Lloyd’s has been at the forefront of the insurance world for 300 years. Lloyds underwriters have never failed to pay a valid claim.

All the major global insurance companies, with assets in the billions of dollars, trade in London which gives the market a unique flexibility to respond to the difficult and unusual. The capacity to assimilate high value risks is unique and as a market is able to provide insurance solutions where others are not.

To take best advantage of this environment ICA have forged links in London with ‘A’ rated security backing.

What does insurance mean to you

You think about one thing – "Will your insurance company pay claims as described in your insurance policy."

ICA will respond quickly and effectively to minimise the upset, difficulties and disturbance that results from unexpected or unfortunate events.

ICA have local expertise in the claims field and are able to call upon the skills of international loss adjusters as necessary.

In some areas claims can be highly complex and require a depth of knowledge that is only created out of experience. Properly managed a competent loss adjusting service minimizes the impact of serious claims.

What is the best way to manage risk

Good Risk Management results in fewer losses and lower insurance premiums.

Prevention of loss is far preferable to experiencing loss.

ICA can offer a Risk Management service designed to help you avoid losses in the areas of property protection and security, minimise the impact of Business Interruption and to avoiding liabilities.

ICA brings you the best of both. Help and advice on the prevention of loss underpinned by soundly backed insurance protection.

CONTRACTORS

The considerable Construction work in Afghanistan brings with it a high demand for properly organised insurance products for Contractors. Throughout the country significant values are at risk much of which has hitherto not been protected by insurance.

The range of Contractors insurance that we can offer are:

• Contractors All Risks – On annual basis or for a single project
  
• Erection All Risks
  
• Contractors Plant and Equipment
  
• Machinery Breakdown
  
• Advance Loss of Profits/Delay in start up in conjunction with Contractors or Erection All Risks
  
• Business Interruption following Machinery Breakdown
  
• Computer and Electronic Equipment All Risks
  
• Third Party Liability in conjunction with Contractors or Erection All Risks and Contractors Plant and Equipment.
  
  

For certain contracts awarded in particular by U S Government contracting agencies mandatory Workers Compensation (DBA) is required together with a range of other insurances. At ICA we are able to fulfil those requirements.

Single contracts up to $60 million US dollars can be insured but that need not be a limiting factor.

CARGO

Cargo transits into, inside and out of Afghanistan are considerable. Many have found it difficult to obtain insurance cover, if at all, and often there are gaps between point of despatch and point of arrival.

Our facilities at ICA deal with these issues and we are able to provide insurance cover on a Global basis whether the transit be by Land, Sea or Air.

Basic cover limits we can offer are up to:

• $10.000,000 US dollars any one conveyance, any one location, any one insured, any one account for transit risks.
  
• $3,000,000 US dollars any one conveyance – train.
  
• $500,000 US dollars any one conveyance – truck.
  

These limits will provide sufficient cover for the bulk of cargo transits but where not we have the resources to arrange for higher sums insured on a case by case basis.

AVIATION

The Aviation industry in Afghanistan has been growing steadily for a number of years bringing with it an increasing demand for adequate insurance protection, domestically and internationally.

ICA has access to leading experts in this field and we are able to provide cover for:

• Aircraft Hulls on an agreed value basis
  
• Spares
  
• Third Party Liability
  
• Passenger Liability
  
• Aircraft Spares
  
• Extortion
  
• Confiscation and Hijacking
  
  

This is a very specialised area of insurance where covers are tailored to individual client requirements.

PROPERTY

Protection of Property Assets is fundamental to all enterprises, both in the private and public sectors. This embraces Buildings, Plant, Other Contents and Stocks. Destruction or damage to any of these can cause significant adverse consequences and it is an internationally recognised fact that many enterprises that suffer severe loss of Assets through the unexpected never fully recover, many of whom go out of business altogether. It is not just the value of the asset; it is also Loss of Revenue/Profit that results.

Adequate insurance protection can financially cushion these considerable downsides and give the best chance for recovery to take place.

At ICA we have in depth expertise in this area, particularly in the area of Business Interruption. Cover available includes damage from:

• Fire, Aircraft and Explosion
  
• Riots, Civil Commotion and Malicious damage
  
• Earthquake
  
• Storm, Tempest, Flood and Burst Pipes
  
• Terrorism
  
  

Plus the Business Interruption/Loss of Revenue resulting from the operation of those events.

Case by case we have the resources and support to accommodate risks running into the tens of millions of dollars.

LIABILITIES

Legal Liability to Third Parties and Employees spans a very broad area. In many parts of the world this has reached very sophisticated levels and there is little doubt that as the Afghanistan economy develops the impact will be increasingly felt.

The scope includes:

• Liability to Third Parties resulting from Property Damage or Personal Injury arising out of negligence.
  
• Liability to Third Parties arising out of defective products resulting in Property Damage or Personal Injury.
  
• Costs of Product recall following the above.
  
• Workers Compensation – Already compulsory for US sponsored contracts (DBA).
  
• Company Directors and Officers Liability to shareholders.
  
• Third Party Motor Liabilities.
  
• Professional Indemnity.
  
  

There will be a growing need for insurance protection in these areas, not only to cover the loss but also to provide expertise in the handling of any potential claims.

At ICA we have the resources to construct policies to meet these needs, which will vary from sector to sector.

EMPLOYEE BENEFITS

A number of areas fall under this heading:

• Personal Accident – A range of benefits for employees that become payable as a result of an Accident, either at the work place or on a 24 hour basis. These benefits include capital sums for Death and Permanent Disablement and weekly benefits for Temporary Disablement.
  
• Travel – For those travelling abroad for business, benefits to include Personal Accident, Medical Expenses and Repatriation.
  
• Life – A Capital Benefit payable as a result of Death from accidental and natural causes.
  
• Medical Expenses - Group schemes to cover the costs of Medical Treatment and Hospitalisation.
  

 

The Personal Accident and Travel products are now available. The Life and Medical Expenses products are breaking new ground. They are in the process of being developed and will be finalised shortly.