1. What is AAR Fire Cover?
The insurance solution covers loss or damage to the items insured if they suffer any loss or damage listed in the under the perils below.
2. Some of the Perils Covered Under the Cover
- Fire, Lightning and Earthquake
- Explosion
- Riot & Strike
- Malicious damage
- Storm and flooding
3. What are the Cover General Exclusions?
- Nuclear weapons or any nuclear material
- Any consequential loss of any kind or legal liability
- Electrical and mechanical breakdown
- Willful acts
- War, civil commotion and coup d’état
- Political violence and terrorism
- Loss or damage on the orders of a public authority
4. What is the Cover Cancellation Clause?
The Cover may be cancelled at any time by the Insured by giving notice to the Company provided no claim has arisen during the current Period of Insurance. The Insured shall be entitled to the difference (if any) between the Premium paid and the Premium calculated at the Company's short Period rates (shown below) for the time during the current Period of Insurance this Policy has been in force.
SHORT PERIOD RATES
● Up to three months- 30% of annual premium
● Three to Six months- 60% of annual premium
● Six to nine months – 90% of annual Premium
● Over nine months – 100% of annual Premium
5. How do I Make a Claim?
- On the happening of any event giving rise or likely to give rise to a claim under this Policy, the Insured shall notify Company immediately the same shall have to come to his knowledge
- In case of theft or loss the Insured shall give immediate notice to the police and take all practicable steps to cause the discovery and punishment of any guilty person and to trace and recover the property.
- Give the Company notice in writing and supply all such detailed particulars and proofs as may be reasonably required. In no case shall the Company be liable for any loss or damage not notified to the Company within thirty (30) days of the event.
6. Material Non-Disclosure Clause
If there shall be misstatement, misrepresentation or omission of a material fact from the information supplied by the Insured whether by the said Proposal and declaration or otherwise, this Policy shall be null and void and any benefits payable under the same shall be forfeited
7. Dispute Resolution Clause
Any dispute/complaint between the parties to the insurance may first be resolved amicably between the parties without the intervention of a third party and/or the dispute/complaint may be escalated to the Insurance Regulatory Authority of Uganda or Ombudsman in accordance with the Insurance Act and Regulations before resorting to other mediation, arbitration, litigation or any other form of dispute resolution.
8. The Cover Complaints Procedure
- The Company is committed to resolving all grievances, complaints and/or disputes in a quick, fair and timely manner.
- The insured may lodge a formal grievance or complaint, and the Company undertakes to review any such grievance or complaint and keep the Insured informed of the progress of the review within fifteen (15) days from the date of receipt of the grievance or complaint.
- In the process of review of the grievance or complaint the Company may request for further information, undertake further assessment or investigation to assist them in reviewing the grievance or complaint.
- The Company undertakes to inform the Insured of the outcome of the review within 30 days from the date of receipt of the grievance or complaint or from the receipt of further information or report from assessment or investigation.
- The indemnity provided by this Policy shall apply only in respect of judgments, which are in the first instance delivered by or obtained from a court of competent jurisdiction within the Republic of Uganda
NOTE: Premium Payment
The premium indicated in the policy schedule must be paid to the insurers prior to inception or renewal of the policy as per the provisions of the Insurance Act of Uganda.
Please note that the Company shall only assume risk upon receipt of the full premium and a valid receipt issued.
