YiB have designed a Medical Practice Insurance Package suitable for the medical fraternity practicing in South Africa.
An outline of the protection provided in terms of the basic package:
Contents: Replacement Value
a. Loss or damage to the contents of rooms (excluding computers and other electronic equipment, insurable under a separate section) by an insured peril including theft accompanied by forcible and violent entry or exit. (Subject to Protection and Alarm Warranty).
R10000 in respect of habit forming drugs and narcotics,
R5000 for loss or damage to landlords’ fixtures and fittings,
R5000 for personal effects per individual, R10000 in total,
R7500 for accidental breakage of internal and external glass.
b. Additional expenses following the rooms becoming untenantable as a result of an insured event by a. above limited to 25% of the sum insured.
c. Documents (including X-rays and X- ray discs) limited to R20 000 in respect of accidental loss of damage to documents.
Business Interruption: Gross Annual Income Loss of income and increase in cost of working as a result of an insured loss under the contents section.
Accounts Receivable: Inability to collect outstanding fess due to accounting records being destroyed or damaged.
Money: Maximum amount of cash on the premises or in transit at any one time Loss of money limited to:
R5000 in transit or in safe on premises
R2000 If not safe on premises
R5000 Damage by thieves to safe or money container
R2500 Capital sum (and corresponding benefits) following assault whilst handling or protecting cash.
Fidelity: An amount advised by you
a. Following financial loss due to the dishonesty of employees. Limited to maximum 5 employees.
b. Cost of recovering the loss limited to R1 000.
Business All Risks: Standard cover included as below and any other items can be included
R10 000 Miscellaneous doctor’s equipment and medical bag.
R10 000 Office machinery and office equipment.
R2 500 000 a. General liability to the public.
R2 500 000 b. Tenants liability (where you are a tenant).
R2 500 000 c .Products liability (not applicable to medicines dispensed for free).