Financial Lines Insurance

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Financial Lines Insurance

Stockbrokers Comprehensive Insurance provides coverage against various risks/perils to which a Stock broking firm is exposed in its regular operations.

Scope of Cover

Part I – Incomplete Transactions

This assures liability to third parties on account of failure or inability to complete transactions.

Part – II

Section 1 — Fidelity

Loss resulting directly from dishonest, fraudulent or malicious acts committed by an employee.

Section 2 — Loss of Property

Loss of property directly from robbery, theft, misplacement, mysterious unexplainable disappearance.

Section 3 — Forgery or Alteration

Loss resulting directly from forgery or fraudulent alteration of Negotiable Instrument.

Section 4 — Securities

Loss resulting directly from the Assured having acted in good faith, for its own account or for the account of others.
  • Extended credit or assumed liability, on the faith of, any original certificated security, deed mortgage or other instrument conveying title to, or creating or discharging a lien upon, real property;
  • Guaranteed in writing or witnessed any signature upon any transfer, assignment, bill of sale, power of attorney

Section 5 — Counterfeit Currency

Loss directly resulting from the receipt by the Assured having received, in good faith, any counterfeit money.

Section 6 — Official Investigation Costs

Insurer shall indemnify the Assured in respect of costs and expenses incurred with the written consent of underwriter in being represented at or in connection with any official investigation, examination or other proceedings ordered or commissioned by any official body or institution empowered under statute to investigate the affairs of the Assured during the Period of this policy.

Section 7 — Computer Crime Indemnity

Indemnity is afforded to the Assured in respect of direct financial loss sustained by the Assured in the following manner;
  • Computer Systems
  • Electronic Computer Programmes
  • Electronic Data and Media
  • Electronic Communications
  • Assured Service Bureau Operations
  • Electronic Transmissions and Uncertified Securities
  • Tele-facsimile Communications
  • Computer Virus

Part III

Errors & Omissions

Why Vision Insurance?

Vision Insurance is an Omani national insurer authorized to offer all lines of Non-Life and Life insurance products. Vision Investment Services Co. SAOG ( www.investvis.co.om ), the leading asset management company in Oman combined with Al Wathba National Insurance Co. PSC ( www.awnic.com ) from Abu Dhabi to promote Vision Insurance in association with prominent business groups from Oman and United Arab Emirates.

Insurer Of Digital Age

Vision Insurance's all 17 branches are available on Google and Google Maps and we monitor each and every valuable review/question of our clients.

Motor insurance in Oman

With a professionally experienced and expert team at your service in the underwriting of various risks under the "Motor Insurance".

Exclusion

Insurer will not indemnify the Assured for any loss on account of directly or indirectly trading for their own account or on behalf of employee, speculative activities or loss of market or delay or any other consequential losses. The following are also excluded from this policy cover:
  • Loss on account of non-payment of, or default upon any loan, or transaction involving the Assured as a lender or borrower.
  • Loss from failure or a financial or depository
  • Loss resulting from withdrawal from customer’s account or any erroneous credits to such account
  • Loss of potential income
  • Indirect or consequential loss of any nature

Underwriting Information Required

  • Completed Proposal Form

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