Claims can be made against the policy up to the value of the Policy Indemnity Limit (PIL). Claims can be paid out within 24 hours.
The policy normally expires after a period of 12 months. Any cover that is not utilized during the current policy term, can be used for future risk management. Alternatively, the experience bonus can be paid out to the client for good risk management.
The insured may cancel the Contingency Policy at any time. Corporate Guarantee requires a 30-day notice period.