Products & Services
TMAS Insurance Brokers Co. Limited is an insurance broking and risk management consulting firm incorporated in 2015. Below is the full range of cover we arrange, together with our risk management and claims services.
A. General insurance
Thirteen classes of general cover, placed with a mutually agreed underwriter.
B. Risk management & consulting
Risk identification, evaluation, control and financing.
C. Claims administration
The delivery of the product you actually purchased.
Fire & perils insurance
The foundation policy for anyone who owns a building or holds stock in one. It responds to fire and the allied perils that commonly travel with it.
The risk may involve:
- Commercial buildings
- Industries
- Private dwelling premises
- Goods in trade
- Domestic or business property
Where a wider set of perils is needed — lightning, explosion, earthquake, bush fire, riot and strike, floods and related perils — we place an all risks policy instead.
To quote fire cover we need
- Nature and location of the premises
- Value of buildings on a reinstatement basis
- Value of contents, plant and stock
- Construction and occupancy of the building
- Fire protection and security in place
- Claims experience over the last three years
Insure to rebuild, not to book value. Sums insured based on depreciated accounting values are the most common cause of an average deduction — where the insurer pays only the proportion of the loss that your declared value bears to the true value.
Motor insurance
Three levels of cover, for private vehicles, commercial vehicles and special types including tractors, trailers, combine harvesters and forklifts.
Third party only (TPO)
Covers liability to third parties and passengers arising out of the use of the vehicle. This is the statutory minimum — it pays nothing towards your own vehicle.
Third party, fire & theft (TPFT)
Indemnity against loss or damage to your vehicle as a result of fire or theft, together with the third party and passenger liability above.
Comprehensive
Indemnity against loss or damage to your vehicle from any insured cause, plus third party and passenger liability arising out of its use. Available for private motor, commercial motor and special types.
- Private cars
- Motorcycles
- Pick-ups & vans
- Trucks & trailers
- Buses
- Tractors
- Harvesters
- Forklifts
- Corporate fleets
To quote motor we need
- Registration card or chassis number
- Make, model and year of manufacture
- Sum insured — current market value
- Use: private, own goods, or hire
- Cover required: TPO, TPFT or comprehensive
- Claims in the last three years
Driving outside Tanzania? Trips into Kenya, Uganda, Rwanda, Burundi, DRC, Zambia or Malawi need a COMESA Yellow Card in addition to your local policy. Tell us before you travel and we will arrange it.
Workmen's compensation, employers' & public liability
Workmen's compensation / employers' liability
This cover protects employers should an employee be injured or die in the course of their work. It has become common for employees to bring claims against the employer based on negligence in respect of accidents happening during employment — which is why employers' liability insurance should be arranged in addition to the workmen's compensation (Act) policy, not instead of it.
Public liability
A public liability policy protects the insured in respect of legal liability to third parties for bodily injury — death, illness or disease — and for loss of or damage to property, happening in connection with the business insured under the policy.
To quote liability we need
- Nature of the business and its activities
- Number of employees by category
- Annual wage roll
- Estimated annual turnover
- Limit of indemnity required
- Any liability claims in the last three years
Most tenders require it. Public liability and workmen's compensation are routinely demanded as a condition of mobilisation on contract work. Arrange them early rather than at the deadline.
Engineering insurance
Contractors all risks (CAR)
Comprehensive protection against loss or damage in respect of contract works, construction plant, equipment and machinery, together with third party claims for property damage or bodily injury arising in connection with execution of the contract.
Erection all risks (EAR)
Cover for the erection of machinery, plant and steel structures of any kind, as well as third party claims arising from the execution of the project.
Machinery breakdown
Developed to give effective cover for plant, machinery and mechanical equipment — at work, at rest, or during maintenance operations.
- Civil works
- Building contracts
- Plant & equipment
- Machinery erection
- Steel structures
- Third party section
To quote engineering we need
- Contract document and scope of works
- Contract value and construction period
- Site location and conditions
- Schedule of plant and equipment with values
- Maintenance period required
- Third party limit required
Marine insurance
Two distinct covers: marine hull and marine cargo.
Marine hull
Cover for craft operating within Tanzania's territorial waters, against loss or damage to the hull, engines and accessories caused by perils of the sea, rivers, lakes or other navigable waters. It also covers loss by fire, theft, jettison, piracy, explosion, malicious acts and latent defects in hull or machinery, together with third party liabilities for injury and property damage.
Marine cargo
Covers goods and merchandise in transit from one place to another by sea, air, rail, road or registered post. The scope of cover follows the Institute of London clauses so far as applicable — clauses A, B or C, depending on how wide the protection needs to be.
Importers shipping regularly are usually better served by an open cover that automatically insures every declared shipment than by buying a certificate per consignment.
To quote marine cargo we need
- Type of goods and how they are packed
- Route — origin, port of entry, final destination
- Mode: sea, air, rail, road or multimodal
- Value per shipment and annual throughput
- Commercial invoice and packing list
- Institute clauses required (A, B or C)
Timing is a condition of cover. Marine cargo insurance must be in force before the goods leave. A consignment that has already sailed, or already been damaged, cannot be insured retrospectively.
Goods in transit
Protection against loss of or damage to goods while they are in transit — from the time of leaving the insured's premises through to final delivery. The policy also protects the insured against liability arising during loading and unloading of the goods, and while they are temporarily housed in the course of transit.
The cover is available to individuals and to companies transporting goods, whether the goods are their own or carried on behalf of others.
- Own goods in transit
- Carried goods
- Loading & unloading
- Temporary storage in transit
- Corridor haulage
To quote transit cover we need
- Description of the goods carried
- Maximum value on any one vehicle
- Estimated annual carryings
- Routes normally travelled
- Fleet schedule, where applicable
Money, burglary, all risks & fidelity guarantee
Money insurance
"Money" is commonly expressed to include cash, bank and currency notes, cheques, postal and money orders belonging to the insured. Cover is against all risks — money in transit, on the insured premises, in safes, in the hands of directors, in the custody of collectors — and includes damage to safes.
Burglary / theft
Compensates for the insured's property stolen from their business premises. There must be forcible entry into, or exit from, the premises for the policy to respond. It also covers the cost of repairing damage to the premises in the course of the theft, and may be extended to include riot and strike and theft following a hold-up.
All risks
Covers loss or damage to property caused by fire, lightning, explosion, earthquake, bush fire, riot and strike, and floods and related perils — across commercial buildings, industries, private dwellings, goods in trade and domestic or business property.
Fidelity guarantee
Insurance against the results of dishonesty or disloyalty of employees. The cover protects the employer against direct financial loss of money and loss of stock resulting from dishonest acts by an employee in the course of employment.
To quote these covers we need
- Maximum money in transit and in safe at any one time
- Frequency of banking and cash-in-transit journeys
- Value of stock and contents at each location
- Security measures — grilles, alarms, guards, safes
- For fidelity: positions covered and cash handled by each
- Claims experience over the last three years
Bonds & guarantees
Bonds are guarantees that may from time to time be required by other parties to a contract. On executing a bond, the insurance company acts as guarantor and is bound to pay a defined amount should the party so guaranteed fail to meet the terms and conditions of the contract with the third party.
The bonds we arrange include:
- Customs bonds
- Immigration and security bonds
- Tender and bid bonds
- Financial guarantee bonds
Bonds are underwritten on your company's financial standing as much as on the contract itself, so insurers will want to see audited accounts and your record on similar work.
To arrange a bond we need
- Tender or contract document
- Bond type, value and required validity period
- Certificate of incorporation and TIN
- Latest audited financial statements
- Record of similar completed contracts
Start early. A tender closing date is not the day to begin the bond process. Underwriters need time to assess the company, and the paperwork rarely moves faster than they do.
Travel insurance
The increase in international travel has meant the risks associated with it have grown. Coupled with the high cost of medical care abroad, this makes travel insurance vital for any traveller. A policy provides 24-hour emergency and medical assistance anywhere in the world, and is accepted by countries that require travel insurance before issuing a visa.
Benefits typically include:
- Travel delay / flight cancellation — financial loss or expenses incurred if your trip is cancelled or delayed by unavoidable circumstances
- Medical and emergency expenses — emergency medical, surgical or dental costs incurred while travelling, air ambulance or medically appropriate repatriation, and funeral costs where death occurs
- Hospital allowance — where the insured is hospitalised as a direct result of an accident or illness covered under the policy
- Personal accident — losses resulting from accidental injury, loss of limbs, loss of sight and death
- Passport — costs incurred in obtaining travel documents after loss of your passport
- Baggage — total loss of baggage checked in by an international airline, and the cost of essential items after baggage is delayed
- Money — loss of money accidentally or by theft while on your person, securely locked under your control, or in a safety deposit box at a hotel or bank
- Personal liability — legal liability for accidental injury to third parties or accidental damage to their property
To issue travel cover we need
- Full name exactly as it appears on the passport
- Passport number and date of birth
- Destination country and exact travel dates
- Whether the embassy requires a minimum limit
- Number of travellers, for family or group cover
"Cover placed before the goods move, not after."
Marine cargo, goods in transit and carrier liability along the Central Corridor
Insurance is one answer to risk. It is not the only one.
Our primary role is that of risk manager. Before a premium is discussed, there is work to be done identifying what could go wrong, how likely and how costly it would be, and what can be done to reduce it — measures that considerably reduce premium rates as well as exposure.
We do not profess to hold every peripheral skill in-house, nor do we believe we should. Our role is to manage the risk and insurance affairs of clients, identifying and seeking out the best available specialist services if and when they are needed.
Risk identification
Establishing what the organisation is actually exposed to, including exposures nobody has priced.
Risk evaluation
Weighing likelihood against financial consequence, so attention goes where it matters.
Risk control
Practical reduction measures — fire fighting equipment, security, procedure — recommended and then verified by survey.
Risk financing
Deciding what to retain and what to transfer, and structuring the insurance programme accordingly.
Claims administration and management
TMAS provides claims administration and management services. We believe this is equally as important as ensuring the cover provided is appropriate and effective — because claims service is essentially the delivery of the insurance product the client purchased in the first place.
Insurance represents a promise to pay. We work actively with our clients to minimise their stress by managing the claim process: advising on the necessary actions, preparing and collating the required documentation, and pressing for smooth settlement.
When TMAS is appointed, we will
- Advise on the various insurance covers available in the industry
- Survey the market on your behalf to obtain the most suitable and competitive terms
- Effect placement with a selected and mutually agreed underwriter
- Service and administer the portfolio on your behalf throughout the period of insurance
- Handle claims processing and policy adjustments as they arise
- Maintain records of unsettled claims and indicate anticipated settlement dates