Oman General Insurance
Oman Insurance Company (OIC) is one of the leading insurance providers in the Middle East. OIC offers customer-focused service through its quality products. Established in 1975, Oman Insurance Company is a well-managed insurance provider. The company is rated A-(Excellent) by AM Best and A-Stable by Standard & Poor’s. Swiss Re, Allianz, Munich Re, and Arig are the reinsurance partners of OIC.
OIC offers a range of insurance solutions such as Motor Fleet, Engineering, Marine Hull, Energy, Marine Cargo, Liability, Aviation, Trade Credit, and Group Health Insurance. The company aims to win the trust of its policy buyers by offering apt insurance solutions that meet their insurance expectations.
Why Buy Oman Insurance Plans?
Oman Insurance Company is one of the best insurance companies that offer plenty of general insurance plans. The plans are designed to fulfill every need, fit every pocket, and suit every situation. The company has established a healthy relationship with its valuable clients over a period of 42 plus years. The insurance buyers can consider Oman Insurance as One Stop Shop for buying various types of insurance plans.
Oman Insurance Products Portfolio
Following are the general insurance plans offered by Oman Insurance.
|Insurance Category||Insurance Plans|
|Commercial Insurance||Motor Fleet Insurance|
|Group Health Insurance|
|Business Travel Insurance|
|Marine Cargo Insurance|
|Trade Credit Insurance|
|Personal Insurance||Motor Insurance|
|Personal Lines Insurance|
Commercial Insurance Plans
Oman Insurance offers a range of commercial plans for businessmen, industries, and the like. It offers insurance coverage for different business-related insurance expectations. Following are the insurance policies offered under Oman commercial insurance plans:
Motor Fleet Insurance
For businesses having a large fleet of commercial vehicles including buses, vans, trucks etc. having Motor Fleet Insurance coverage is very important. It helps them run their business operations smoothly and timely. Motor Fleet Insurance provides insurance coverage to multiple vehicles under a single insurance policy. It eases policy buyer’s burden of insuring each vehicle individually. Oman Insurance provides several options for the same.
OIC offers tailored coverage for a range of vehicle types and fleet sizes including a small fleet of minimum five light motor vehicles and a massive fleet of mining vehicles. Listed below are motor insurance policies offered under this insurance plan:
- Comprehensive Motor Insurance- This is one of the best types of commercial motor insurance plan that provide coverage against all kinds of risk factors that are associated with a commercial vehicle, passenger(s), driver, third-party property, and third-party passengers. It offers comprehensive protection against the damages to the insured vehicle due to road mishap or accident. A comprehensive motor insurance policy not only provides coverage against road accidents but it also provides coverage against damages caused by vandalism, theft, and fire. Since it offers comprehensive protection to the insured vehicle, driver and third-party, comprehensive car insurance attract a higher insurance premium.
- Third-party liability insurance- In case of an accident or road mishap, the third-party liability policy provides insurance coverage only to the third-party vehicle and third-party passenger(s). This means that if the accident caused by the policyholder then he/she have to pay for any kind of damage caused to their car from their own pocket. That’s why the cost of third-party liability insurance is low.
Motor Fleet Insurance Add-ons
In order to enhance the basic insurance coverage, the policyholder can opt for the following add-ons:
- Personal Accident Cover: In an event of an accident, the comprehensive insurance policy covers the policyholder and the third-party. With the personal accident cover, the benefits of this insurance policy are extended even more.
- Roadside Assistance: When the insured car is not in a condition to move or gets stuck on the roadside, it provides emergency assistance to the driver. In such a situation, the insured vehicle is towed and mechanical help is sent to the location.
- Personal Belongings Cover: It provides insurance coverage to the personal belongings of the staff against loss or accidental damage
- Geographic Extension: It provides insurance coverage to insured vehicle across the UAE border into Qatar and Oman.
Engineering Insurance policy of Oman Insurance provides insurance solutions to contracting firms dealing with construction projects and government-related projects like building bridges, roads, tunnels, dams, ports, power projects, desalination, pipeline projects, cable laying, and so on. Under engineering insurance plan, the policyholder gets financial protection against loss or damage to the construction-related work such as a problem with construction plant, equipment, temporary structure etc.
In addition to this, it provides coverage against legal claims due to third-party damage or bodily injury/death during maintenance or construction of the project.
Following are the insurance plans offered under Engineering Insurance policy:
Types of Engineering Insurance Policies
- Erection/ Contractor’s all risk
- Machinery breakdown
- Boiler and Pressure Vessel
- Electronic Equipment
- Contractor’s plant and machinery
- Comprehensive Machinery
- Deterioration of stock
- Principal’s advance loss of profit
- Machinery loss of profits
Group Health Insurance
Oman insurance offers group health insurance to companies for their employees and their dependents. Under this insurance plan, the insured gets access to the best health care facilities. Moreover, this health insurance plan can be customized as per the insurance needs of the employees.
Types of Group Health Insurance Policies
- International Healthcare Insurance
- Group Healthcare Insurance
- Group & Employees Onboarding
- Abu Dhabi Employee Protect
- LivFit Wellness Program
Oman Insurance Company offers risk management solutions for aviation companies.
Aviation Insurance Policies
- Airline Fleet– liability and hull for passengers as well as cargo operations
- Product Liability
- ATC Liability
- Airside Liability
- Airport Operator’s Liability
The marine insurance offered by Oman Insurance Company covers the goods that are imported and exported from any part of the world (excluding some zones) to the United Arab Emirates or vice versa by air, sea, or road against loss or damage. It offers tailor-made Marine Insurance policies to meet business needs and requirements.
Marine Insurance Policies
Here are various types of Marine Insurance policies offered by Oman Insurance:
- Marine Hull Insurance
- Marine Cargo Insurance
- Marine Hull – Pleasure Craft
This insurance policy provides coverage to commercial properties like buildings, machinery, plants etc. against various risks such as fire, lightning, explosion, earthquake, aircraft, riot, strike, storm, malicious damage, flood, tempest, overflowing of water apparatus or bursting, theft, impact my own vehicles, and other accidental loss/damage.
Types of Property Insurance Policies
Here are the various types of Property Insurance policies offered by Oman Insurance:
- Fire & lightning
- Standard Fire and Allied Perils
- Property All Risks
- Live Stock Insurance
- Business Interruption
- Jeweller’s Block
Oman Insurance Company offers energy insurance in order to provide comprehensive-protection to oil and gas companies against various unforeseen situations such as a rig accident or an oil spill. Such situations can cause severe damage to the environment and tarnish the firm’s reputation.
Types of Energy Insurance Policies
Here are the various types of Energy Insurance policies offered by Oman Insurance:
- Upstream Insurance
- Downstream Insurance
- Business Interruption
- Controls of Wells
- Property Damage
Just like large organizations, small organizations also have to manage governance, the welfare of the employees and take care of liabilities. It is advised to SME owners to protect the business with SME insurance. It provides insurance coverage in case of unexpected situations like equipment malfunction, theft, fire, lawsuit, sudden illness of the employee(s).
SME Insurance is one of the most important insurance policies that assist in protecting the business assets of small to medium size companies. It provides insurance coverage to their business, employees, motor fleet etc. in case of various unforeseen events.
Types of SME Insurance Policies
Here are the various types of SME Insurance policies offered by Oman Insurance:
- Motor Fleet
- Group Medical
- Property All Risk
Trade Credit Insurance
Oman Insurance Company has collaborated with Coface to offer Trade Credit Insurance in the UAE.
Trade Credit Insurance is one of the best commercial insurance plans that help in protecting policyholder’s business against various losses arising from trade-related or non-payment debts. This type of insurance helps the policyholder manage their financial risk in an effortless manner.
Types of Trade Credit Insurance Policies
Here are the various types of Trade Credit Insurance policies offered by Oman Insurance:
- Domestic trade transactions
- Export trade transactions
Business Travel Insurance
In order to make business trips safe and pleasant, buying business travel insurance is necessary. Oman Insurance Company offers Business Travel Insurance that protects the organization against various financial risks which can arise due to some unforeseen circumstances such as loss of baggage, injuries, accidents, terrorists attack, flight cancellation, delay in trips, loss of travel documents, theft of money, and much more.
Being one of the best insurance providers in the UAE, Oman Insurance Company offers business travel insurance policies that cover all the unforeseen situations.
Types of Business Travel Insurance Policies
Here are the various types of Business Travel Insurance policies offered by Oman Insurance:
- Individual Travel Insurance
- Group Travel Insurance
- Schengen Visa Complaint
- Passive War and Terrorism
- High-Risk Travel Insurance
Personal Insurance Plans
Oman Insurance Company (OIC) offers a wide range of personal insurance plans to meet the basic insurance needs and requirements of the UAE residents.
Here is the list of personal insurance plans offered by OIC:
Oman health insurance offers coverage against various health diseases. This health insurance plan is offered on an individual basis as well as family floater basis.
Types of Health Insurance Policies
Here are the types of Health Insurance policies offered by Oman Insurance:
- DHA Individual Plans
- International Health Insurance
Motor Insurance is one of the best general insurance plans offered by Oman Insurance Company. It can be customized as per the insurance need and requirement of the insurance buyer. Its excellent customer care makes sure that the insured has a hassle-free claim experience.
Types of Motor Insurance Policies
Here are the types of Motor Insurance policies offered by Oman Insurance:
- Comprehensive Insurance Policy
- Third-party Liability Insurance Policy
Motor Insurance Add-on Covers
Here are the add-ons that can be added to the Comprehensive Motor Insurance policies to enjoy more benefits:
- Personal accident coverage for the driver as well as passengers up to limit of AED 200,000.
- Coverage for agency repair for up to three years.
- Property damage of third-party up to limit of AED 3,50,000.
- Medical expense coverage up to AED 5,000/per person in case of emergency.
- Windscreen cover up to AED 3,000 with NIL excess.
- Off-road coverage for 4x4 vehicles except for desert safari.
- 24x7 emergency roadside assistance.
- Extension of the whole Sultanate of Oman for all private vehicles.
Personal Lines Insurance
Oman Insurance Company offers Personal Lines Insurance that provides insurance coverage for the insured’s life, property, and small businesses.
Personal Lines Insurance Policies
Here are the types of Personal Lines Insurance policies offered by Oman Insurance:
- Travel Insurance- TravelEasy
- LifeEasy (Personal Accidents)
- HomeEasy- Home Insurance
- Visitor Health Travel Insurance
- Al Wathba National Insurance
- Adamjee General Insurance
- Al Sagr National General Insurance
- Dubai Islamic General Insurance
- Dubai National General Insurance
- HSBC General Insurance
- National General Insurance
- New India Assurance
- Noor Takaful General Insurance
- Oriental General Insurance
- Union General Insurance
- Watania General Insurance