This Wayne Beach Insurance product acts as collateral that guarantees that the advance payment will be returned to the buyer if the seller does not fulfill its obligations on delivery of goods or services. It is also required when a Contractor applies for an advance payment from the Principal or Client to help fund the preliminary costs and mobilization works of the contract.

This is a Wayne Beach Insurance product issued as part of a supply bidding process by the contractor to the project owner to provide guarantee, that the winning bidder will undertake the contract under the terms at which they bid.

Your company might have a fleet of vehicles consisting of several commercial vehicles for your business, various passenger cars for key personnel and salesman, motorcycles for your dispatch riders and company bus to ferry your workers. Let Wayne Beach Insurance Consultants review your policy coverage and its premium.

This is a Wayne Beach Insurance product issued to one party of a contract as a guarantee/collateral against the failure of the other party to meet obligations specified in the contract. It is common in construction and real estate development (Private & Government Projects). In such situations, an owner or investor may require the developer to assure that contractors or project managers acquire it in order to guarantee that the value of the work will not be lost in an event of unforeseen circumstances.

This Wayne Beach Insurance product known as Credit Security bond or Credit Guarantee serves as collateral for the repayment of a commercial or private loan. A loan or capital investment is often made subject to the provision of collateral by the borrower directly or through a third party guarantor. The borrower therefore procures this guarantee as a replacement for the loan collateral to the beneficiary (loan provider). The beneficiary can generally assert claims under this guarantee by declaring in writing that the borrower has not repaid the loan or outstanding balance upon maturity.

Industrial All Risk insurance is designed to insure the property and Business interruption in one Single Policy. The Property (Building, Improvements, Contents, and Stocks) is insured on an All Risk Coverage. With an all risk cover, the insured will be covered for any accidental and unforeseeable loss unless specifically excluded. This Wayne Beach Insurance product policy seeks to address the risk exposure of operations in a building or multiple premises with a single policy providing compensation for such as Fire, Consequential loss due to business interruptions, Burglary and Theft, Money ETC

This Wayne Beach Insurance product policy provides comprehensive cover against the following:

Loss or damage for goods in transit from point A to B by sea, air (including courier) and land

The Freight Forwarders Liability Insurance which insures not only forwarders, but also other related companies which provide logistic solutions for their clients. This includes Freight Forwarders; Non-Vessel Operating; Common Carrier; Warehouse Operators / Consolidators; Logistic Operators. The policy has several sections which addresses the risk of the insured whist handling the goods for its owner: (Cargo Liabilities, Third Party Legal Liability, Liability for Fines and Duties, Claim Expense Pleasure Craft Insurance. Whilst enjoying the fun of having a pleasure craft, you may not want to forget the potential loss and liability from any accident whilst in the open sea. The pleasure craft insurance provides cover for not only the cost of the Hull, but also potential liability to property and the passengers.

This Wayne Beach Insurance Consultant’s Retention is a percentage (often 10% -20%) of the amount certified as due to the contractor on an interim certificate that is retained by the client. This ensures the contractor properly completes the works required under the contract.

If you are selling to your customers on an unsecured trade credit terms, your biggest fear will be the client to paying you. Non-payment can be due to various reasons and trade credit insurance serves to protect your company from the non-payment by your clients. The Wayne Beach Policy is suitable for companies with domestic sales or export business.

For domestic sales, trade credit insurance would cover for risk involving insolvency of clients and default of payment. If you are also exporting to overseas, your other concerns which trade credit insurance can address are public buyer risk, payment transfer risk, import restrictions risk, political risk, war and unrest risk etc. With the trade credit insurance in place, your debtors listing will be managed with the insurer professional credit control team. You will no longer have to worry for payment default of your customers. This will serve to protect your balance and company profit from bad debts.

This Wayne Beach Insurance product is collateral that provides guarantees to the project owner that the contractor who did the work will come back and fix defective work or material should an issue arise during the warranty period specified in the contract.

This Wayne Beach Insurance product is a statutory requirement in accordance to all local and international labor laws. As an employer, you are required to have a Work Injury Compensation Insurance policy covering all your employees doing manual work as well as those employees earning the equivalent of $3,000 or less a month. It pays compensation for any work-related death, injury and occupational disease of your workers arising out of and in the course of employment including oversea assignment.