Paramount Life & General Insurance Corporation

Business Owners' Insurance Package

At a glance

Specifically designed for small and medium-sized business establishments.
Coverage includes fire and allied perils, and loss accrued by robbery, burglary and employee dishonesty.
Presented in 4 sections: PROPERTY INSURANCE, ADDITIONAL INSURANCE, PUBLIC LIABILITY and OPTIONAL COVERAGE.

Being a business owner is both a brave and ambitious endeavour. Responsibilities are both serious and challenging and at times it can feel like you are shouldering the burden without a safety net. In an unpredictable world and economic climate, unexpected events that result in unfortunate circumstances can be just one burden too many. Let us be your safety net! Take charge of securing your investments through Paramount’s Business Owner’s Insurance Package, specifically designed for small and medium-sized establishments.

Enjoy flexibility and wide coverage through protection against fire and allied perils, as well as loss of money due to burglary, robbery and the dishonesty of its employees. The BOIP also extends to cover your employees against accidental death or death due to natural causes. The BOIP comes in several variations that provide customized insurance protection befitting the specific needs of varied business operations.

Section 1

Property Insurance. Covers against property damage caused by:

Fire and/or lightning

Earthquake fire and shock

Typhoon

Flood

Explosion

Smoke damage

Falling aircraft

Vehicle impact

Riot, strike, and malicious damage

Sprinkler leakage

Bursting and/or overflowing of water tanks, apparatuses or pipes

Section 2

Additional Coverage.

Money Securities and Payroll Robbery

Personal Accident Insurance. Additional cover for Php50,000.00:

10% Medical Reimbursement
10% Burial Expense Benefit
50% Unprovoked Murder and Assault
Php50,000 Group Yearly Renewal Term (GYRT) per person
Fidelity Guarantee Insurance

Section 3

Public Liability. Pays for actual loss which the insured may be legally obligated to pay to third parties due to bodily injury or property damage arising from the insured’s business operations, up to Php500,000. Depending on the nature of your business, there is additional coverage for:

Garage Keepers

Car Park Liability

Food Poisoning

Premises Medical Payments

Defense and Litigation expenses

Fire Legal Liability

*Depending on the nature of your business.

Section 4

Optional Coverage.

Business Interruption

All Risk Cover for Machineries & Equipment

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