General Terms & Conditions – Business Insurance

1. Coverage Scope

This policy provides coverage for businesses against financial loss due to accidents, damage, liability claims, or other specified risks. Coverage details are outlined in the policy schedule.

2. Policyholder Responsibilities

• Maintain accurate and updated information regarding business operations.

• Notify the insurer promptly of any changes that may affect coverage.

• Take reasonable steps to prevent damage, loss, or liability.

3. Exclusions

This policy does not cover:

• Intentional damage or fraudulent claims.

• Losses due to war, terrorism, or natural disasters unless specifically included.

• Pre-existing conditions or undisclosed risks.

4. Claims Process

• All claims must be reported within [7] days of the incident.

• Supporting documents, including proof of loss and incident reports, must be submitted.

• Claims are subject to verification and investigation before settlement.

5. Premium Payments & Renewals

• Premiums must be paid by the due date to maintain coverage.

• Late payments may result in policy suspension or cancellation.

• Renewal terms may be subject to adjustments based on claim history.

6. Cancellation & Termination

• The insurer may cancel the policy due to non-payment, fraud, or breach of terms.

• The policyholder may cancel by providing [7] days’ written notice.

• Refunds, if applicable, will be processed based on policy terms.

7. Governing Laws

This policy is governed by the laws of Malaysia. Disputes will be resolved through arbitration or legal proceedings as defined in the policy contract.