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Key Policy Facts

Key Policy Facts

The following provides a short summary of the significant features, benefits and limitations of the cover provided by the AIG ChemistShield policy.

We recommend that you also read Tips on Buying Insurance.

For full details of the cover including complete terms, conditions and exclusions please refer to the policy document.

Type of insurance and cover

This insurance policy provides packaged cover for retail chemists and pharmacies
The duration of this insurance contract is 12 months

Significant features and benefits

Completion of a proposal form is not required

  • Buildings
    - Accidental damage including subsidence and theft or attempted theft including shoplifting
    - Loss of rent up to 15% of the sum insured on buildings
    - Property Owners’ Liability limit of indemnity of £2 million
    - £2,500 trace and access
  • Contents and stock cover for accidental damage including theft or attempted theft & shoplifting
  • Employers’ Liability to a limit of indemnity of £10 million (£5 million in respect of terrorism)
  • Public and Products Liability to a limit of indemnity of £2 million
  • Money in transit, in ‘the premises’ during business hours, and in any bank night safe covered to £7,500
  • Money in a safe outside business hours covered to £2,500
  • Standard Business Interruption and Book Debts limit of £1 million
  • 24 month standard indemnity period for Business Interruption
  • Contents cover whilst temporarily removed for cleaning, renovation, repair or similar purposes
  • £2,500 loss of metered water
  • £2,500 exhibition cover
  • £2,500 trace and access
  • £1,000 theft of keys
  • Frozen foods & drugs – limit of £500 – an excess of £50 applies (limit can be increased)
  • Goods in Transit – limit of £1,000 – an excess of £50 applies (limit can be increased)
  • Automatic 30% seasonal increase of the Stock Sum Insured
  • Loss of dispensed prescriptions – limit £250,000

Optional covers available

  • European and world-wide ‘All Risks’ cover provided, maximum limit of £10,000 for unspecified items an excess of £50 applies, unless shown separately in the schedule
  • Directors & Officers liability covers financial loss up to selected limits by reason of any wrongful act. Available for limited companies only
  • Terrorism