Crescent Star Insurance Ltd is a registered insurer with the Securities and Exchange Commission of Pakistan, having a paid-up capital of RS 1,077 million. The firm is traded on the Pakistan Stock Exchange (PSX). It is also a member of the Insurance Association of Pakistan (IAP).
- 1. Introduction – Crescent Star Insurance Company Limited
- 2. Details – Crescent Star Insurance Limited
- 3. Intro Video – Crescent Star Insurance Limited
- 4. Types of Insurances – Crescent Star Insurance Limited
- 4.1 Corporate Motor – Crescent Star Insurance Limited
- 4.2 Health Insurance – Crescent Star Insurance Limited
- 4.3 Fire & Property Insurance – Crescent Star Insurance Limited
- 4.4 Marine Insurance – Crescent Star Insurance Limited
- 4.5 Aviation Insurance – Crescent Star Insurance Limited
- 4.6 Engineering Insurance – Crescent Star Insurance Limited
- 4.7 Travel Insurance – Crescent Star Insurance Limited
- 4.8 Livestock & Crop – Crescent Star Insurance Limited
- 4.9 Miscellaneous Insurance – Crescent Star Insurance Limited
- 5. Branches – Crescent Star Insurance Limited
- 6. Important Documents – Crescent Star Insurance Limited
- 7. Board of Directors – Crescent Star Insurance Limited, Pakistan
- 8. Clients – Crescent Star Insurance Limited, Pakistan
- 9. Online Helpline – Crescent Star Insurance Limited, Pakistan
- 10. Verification – Crescent Star Insurance Limited, Pakistan
- 11. Disclaimer – Crescent Star Insurance Limited, Pakistan
Crescent Star Insurance Ltd (CSI) Insurer’s Financial Strength (IFS) rating has been raised by Pakistan Credit Rating Agency (PACRA) to “A-” (Single A minus) [Previously “BBB+” Triple B plus]. The rating indicates the company’s strong ability to satisfy policyholder and contractual responsibilities.
1. Introduction – Crescent Star Insurance Company Limited
Crescent Star Insurance Ltd (CSI) was founded in 1957 and has a solid reputation in Pakistan’s insurance business. From its founding, Crescent Star Insurance Ltd (CSI) has been insuring general insurance business in Pakistan, including Motor, Health, Fire, Marine, Engineering, Travel, Livestock & Crop, and Miscellaneous.
As a consequence of its consistent performance and sensible underwriting practices throughout the years, the business has earned the trust of the global reinsurance market and enjoys a unique position in both domestic and foreign markets, with a heritage acknowledged by everyone in the insurance sector.
Crescent Star Insurance Ltd (CSI) has built a solid business team over the years, with a branch network that spans the country, providing to the insurance needs of clients and other stakeholders.
2. Details – Crescent Star Insurance Limited
2.1 Vision Statement – Crescent Star Insurance Limited
- To serve with excellence.
- Excellence achieved through our corporate mission.
- The brand name of Crescent Star Insurance Ltd (CSI) with a vision to expand with prudent approach and provide the Insurance Service to Pakistan Industry on sound footing.
2.2 Mission Statement – Crescent Star Insurance Limited
- First and foremost, to secure the interest of our policy holders by adopting proper risk management techniques, prudent financial planning and maintaining reinsurance arrangements with world-class reinsurers.
- To ensure profitability to our reinsurers who afford us underwriting capacity.
- To recognize human resources as the key element in progress and to provide our officers and field force due recompense for their efforts in building up the company.
- To generate operational profits and dividend return for our shareholders of the company.
2.3 Values – Crescent Star Insurance Limited
- Integrity
- Transparency
- Passion
- Team Work
- Corporate Social Responsibility
3. Intro Video – Crescent Star Insurance Limited
4. Types of Insurances – Crescent Star Insurance Limited
The company offers the following forms of insurance:
4.1 Corporate Motor – Crescent Star Insurance Limited
4.1.1 Car Aasan
When an automobile accident occurs, you must respond swiftly. If you experience an accident, Crescent Star Insurance Ltd (CSI) Car Aasan will cover you financially. Everyone who has had their automobile ruined in an accident knows how upsetting it is. It’s also a lot of work to keep mobile. Crescent Star Insurance Ltd (CSI) Auto Aasan assists its clients in making these stressful situations as easy as possible:
4.1.2 Salient features of Car Aasan
- No deductible on imported vehicles
- Relaxed depreciation
- Motor vehicle insurance at very affordable rates
- Tracking facility
- Fast Claim processing
- Special insurance rates for corporate and fleet customers
- It is not just a policy document now you can select desired options from the following and drive your dream car safely with us:
4.1.3 The Power of Value – Added Services (VAS)
| S No. | Type | VAS* | Remarks |
| 1 | Classic | Not Applicable | Standard comprehensive insurance policy |
| 2 | Silver | Tow, Ambulance | Standard comprehensive insurance policy Any one VAS |
| 3 | Gold | Tow, Ambulance, Cab | Standard comprehensive insurance policy Any two VAS |
| 4 | Platinum | Tow, Ambulance, Cab | Standard comprehensive insurance policy All VAS three |
| 5 | Platinum Plus | Tow, Ambulance, Cab, Rent a Car | Standard comprehensive insurance policy All three VAS plus Rent a Car |
4.1.4 Car Aasan Coverage Includes
- Private Car Comprehensive
- Commercial Vehicle Comprehensive
- Motorcycle Comprehensive
- Motor Third Party Liability
4.2 Health Insurance – Crescent Star Insurance Limited
Now you can pay your health insurance premium in INSTALLMENTS…..
Purchasing a Medical Insurance policy has been simpler. You may pay for it in monthly installments. For the first time in Pakistan, Crescent Star Insurance Ltd (CSI) introduces an inpatient hospitalization plan that is affordable, allowing you to pay your health insurance payment in easy monthly installments. You no longer need to reduce the sum covered if paying the payment all at once is difficult.
4.2.1 Sehat Aasan Plans – Crescent Star Insurance Limited
| SEHAT AASAAN PLANS | ||||
| PLAN-A | PLAN-B | PLAN-C | PLAN-D | |
| Annual Limit (PKR.) | 100,000/- | 200,000/- | 350,000/- | 500,000/- |
| Sub-Limit for Accidental Treatment (Pre-Accident) | 15,000/- | 20,000/- | 35,000/- | 50,000/- |
| Pre & Post Hospitalization Expense Benefits | 30 Days / Actual | |||
| ICU/CCU | Actual | |||
| Daily Room & Board Limit | 1,500/- | G.Ward | Semi Private | Private |
| Coverage Of Specialized Investigations | Actual | |||
| Maternity Benefits (Optional) | ||||
| Normal Delivery | 15,000/- | 25,500/- | 31,000/- | 52,500/- |
| C-Section | 23,000/- | 38,000/- | 46,000/- | 80,000/- |
| D & C | 5,500/- | 8,000/- | 15,000/- |
4.2.2 Eligibility
Any person aged from 90 days up to 75 years
4.2.3 Hospitalization Core Benefits Covers
- Surgeon, Anesthetists Fee, OT Charges, Laparoscopic Surgeries
- ICU / CCU Charges
- Investigations
- Ventilator and Allied Services
- Physician or Surgeons visits, Medicines
- Blood and Oxygen supplies
- Prescribed Medicines
- Implant Charges / Room Charges
4.2.4 Prominent Features of Sehat Aasan
- Individual Health Insurance plan for treatment in Pakistan only
- Covers medical expenses incurred on Hospitalization
- Specialized Investigations e.g., MRI, CT-Scan, Endoscopy, Thallium Scan, Biopsy and Angiography
- Accidental outpatient expenses / Accidental emergency room treatment
- Expenses incurred in prior to hospitalization up to 30 days
- Expenses incurred post discharge from hospitalization up to 30 days
- Day-Care Treatments
- Covers all pre-existing diseases after 2 years of continuous coverage / without break
4.2.5 Maternity Benefits
Following maternity benefits for hospitalization relating to pregnancy are covered up to a pre-determined annual limit if this option is taken:
- Hospital room charges
- Hospital service and supplies, Gynecologist Fee, OT, Anesthetist charges
- Nursery care for the baby while the mother is confined
Note: This benefit can be availed 10 months after inception, and is effective from 1st day after renewal of policy without gap/lapsed and subject in case husband and wife both purchase the policy
4.3 Fire & Property Insurance – Crescent Star Insurance Limited
The business class offers property coverage against fire, lightning, explosion (due to home boiler only), and other perils. It may also cover the expense of replacement, reconstruction, or repair. Depending on the policy document and insurance cost, policies may cover damage to surrounding structures, personal property, and expenditures connected with not being able to live in or use the property if it is damaged.
A fire insurance policy compensates the insured individual or company for damage to the insured property (i.e., buildings, stocks, machinery, and other items) caused by fire or lightning. The additional covers that can be provided depending upon the insurance premium include;
- Riot and Strikes
- Malicious Damage
- Explosion
- Atmospheric Disturbance (Flood, Inundation, etc.)
- Earthquake, Fire and Shock
- Aircraft Damage
- Impact Damage
- Burglary and Housebreaking
- Electrical Clause B
- Removal of Debris
- Loss of Rent
4.3.1 Other property products available include
- Property All Risks
- Comprehensive Machinery Insurance
- Consequential Loss due to Fire/Business Interruption
- Terrorism
- Hotel Owner’s All Risks Insurance
- Home Insurance
4.4 Marine Insurance – Crescent Star Insurance Limited
Crescent Star Insurance Ltd (CSI) Marine Insurance provides tailored solutions for complex maritime risks, ensuring clients can claim damages for their valuable cargo, including ships, boats, and cargo. This crucial coverage ensures the safety of ship owners and transporters, regardless of transportation mode.
4.4.1 Marine Cargo
Marine Cargo Insurance covers transit goods, including Import, Export, and inland transit, across waterways, air, and land routes.
Import: Goods entering Pakistan are covered from warehouse to warehouse, and contracts are often C&F and CIF.
Export: Coverage extends from warehouse to warehouse. Contracts can be made on a CIF or FOB basis.
Inland Transit: It is a comprehensive scheme that covers commodities and goods across Pakistan, regardless of their origin or destination.
4.4.2 Marine Hull – Crescent Star Insurance Limited
It is a form of insurance developed for maritime boats used for cargo transportation. This coverage covers losses/damages to the vessel’s hull and machinery caused by maritime dangers.
The insurance policy covers the following perils, losses and damages
- Perils of the seas, river, lakes of other navigable
- Fire and explosion
- Violent theft by outside persons, Jettison or Piracy
- Contact with land conveyance, dock or harbor equipment or installation
- Earthquake, volcanic eruption or lightning
- Accident in leading, discharging or shifting cargo or fuel
- Bursting of bailers, breakage of shafts or any latent defect in the machinery or hull negligence of Master Officer, Crew or Pilots
- Negligence of repairers or charter
- Barratry of Master Officers or crew contact with aircrafts, helicopters or similar object, or object failing there from
4.5 Aviation Insurance – Crescent Star Insurance Limited
Aviation involves significant capital investment in modern aircraft and operations, with risks such as death or injury. Insurance policies are specialized for aviation operations and risks, incorporating aviation terminology, limits, and clauses. These policies are typically excluded from general insurance policies due to the potential for catastrophic loss.
4.5.1 Types of Covered offered by Aviation Insurance Includes
- Aviation Hull (All Risks)
- Hull War and Hijacking
- Spare Engines and Spare All Risk
- Legal Liability to Passengers
- Legal Liability to Third Parties
- Legal Liability to Cargo
- Legal Liability to Mail
- Comprehensive General Liability
- Loss of License
- Personal Accident
4.6 Engineering Insurance – Crescent Star Insurance Limited
| Erection All Risks Insurance | Provides comprehensive protection for machinery, plant, and structures. |
| Contractor’s All Risks Insurance | Provides comprehensive protection for civil engineering projects, equipment, machinery, and third-party claims. |
| Contractor’s Plant and Machinery Insurance | Contractors’ insurance covers plant, machinery, and equipment loss/damage. |
| Machinery Insurance | Provides comprehensive coverage for expensive plant, machinery, and mechanical equipment, covering unforeseen physical loss or damage. |
| Machinery Loss of Profit (MOLP) Insurance | Machinery insurance covers loss of gross profit due to business interruption, focusing on power generation equipment. |
| Boiler and Pressure Vessel Insurance (Machinery) | Boilers are crucial plant equipment, producing steam under high pressure and temperature, but they also pose risks of explosions and collapses. This policy covers losses, repairs, and property damage. |
| Electronic Equipment Insurance | Electronic Equipment Insurance is a comprehensive policy for high-value electronic equipment, covering all types of electrical systems with moderate power requirements, including data processing, medical radiation, and communication facilities. |
| Comprehensive Machinery Insurance | Comprehensive Machinery Insurance policy offers property coverage for industrial plants with high machinery damage exposure but low hazards exposure. |
| Comprehensive Project Insurance | Comprehensive Project Insurance covers construction projects, including hydroelectric plants, and marine cargo. |
4.7 Travel Insurance – Crescent Star Insurance Limited
4.7.1 Travel Cool
Travel Insurance provides peace of mind during trips, ensuring business or leisure activities go smoothly.
4.7.2 Travel Cool Helps
- Telephone Medical advice
- Medical service provider referral
- Medical Translation service
- Arrangement of hospital admission
- Arrangement of medical evacuation and repatriation of minor children
- Worldwide diplomatic mission referral
4.8 Livestock & Crop – Crescent Star Insurance Limited
4.8.1 Crop Insurance
CSIL insurance protects livestock and poultry operations, offering comprehensive coverage. Our insurance package covers Broad Causes of Loss protection for livestock, which includes the following:
- Accidental shooting
- Attacks by dogs or wild animals (does not apply to sheep)
- Earthquake loss
- Electrocution
- Flood loss
- Loading and unloading accidents
- Sudden and accidental collision damage causing death
4.8.2 Crop & Agriculture
Disasters cause heavy losses to farmers; CSIL offers insurance coverage to mitigate risks and provide incentives.
4.9 Miscellaneous Insurance – Crescent Star Insurance Limited
| Cash-In-Safe/Transit | Cash-in-Safe Insurance protects cash, currency notes, coins, securities, postal orders, stamps, and cheques against burglary while locked in a safe. CSIL CIS & CIT policies offer maximum coverage against thefts and burglaries, including loss from locked safes, acts of theft, force and violence, forceful entry, and duplicate keys. The policy covers cash lost during normal business hours, transit, gunpoint, or forcibly. |
| Product Liability | CSIL Product Liability insurance policy provides comprehensive coverage for businesses selling or manufacturing products, covering public liability, employers’ liability, professional indemnity, stock cover, business equipment, revenue protection, and business premises. This policy covers compensation costs for injuries or property damage, ensuring smooth operations and avoiding significant expenses for businesses. |
| Bancassurance | CSIL Bancassurance offers convenient, secure banking and financial solutions for all your needs. |
5. Branches – Crescent Star Insurance Limited
The following are the company’s branches spread throughout Pakistan.
For Branches Address and Phone Number visit the following link,
http://cstarinsurance.com/Contact-Us/Branch-Network
6. Important Documents – Crescent Star Insurance Limited
Required documents for Health Insurance are
- Treating Physicians prescription (Duly signed & stamped)
- Receipts for purchase of prescribed medication (With name & date of the Patient) Lab report.
- Attach a copy of eye card for the reimbursement of Glasses claim
- For Dental claim please provide the detailed bill with teeth numbers and x-rays.
- Vaccination Card
7. Board of Directors – Crescent Star Insurance Limited, Pakistan
Company Board of Directors are,
| Mr. Naim Anwar | Managing Director & CEO |
| Tanveer Ahmad | Director |
| Suhail Elahi | Director |
| Naveeda Mahmud | Director |
| Rabia Umar Hassan | Director |
| Shaikh Waqar Ahmed | Director |
| Rashid Malik | Director |
| Huma Javaid | Director |
8. Clients – Crescent Star Insurance Limited, Pakistan
- Habib Bank
- Faisal Bank
- United Bank
- Crescent Star Foods (Private) Limited
- Crescent Star Technologies (Private) Limited
- Crescent Star Luxury (Private) Limited
9. Online Helpline – Crescent Star Insurance Limited, Pakistan
- UAN Number: 021 – 111 – 274 – 000
- Email Address: info@cstarinsurance.com
- Hotline Number; (92-21) 32415471-3
- Head office Address: 2nd Floor, Nadir house, I.I. Chundrigar Road, Karachi – 74000, Pakistan
- Complain: complaints@secp.gov.pk
- Claims: claimcenter@cstarinsurance.com
10. Verification – Crescent Star Insurance Limited, Pakistan
Company is verified from,
https://jamapunji.pk/verify/licensed-entity-detail/crescent-star-insurance-company-limited
11. Disclaimer – Crescent Star Insurance Limited, Pakistan
- If the Crescent Star Insurance Ltd have not resolved your concern satisfactorily, you may file a complaint with the Securities and Exchange Commission of Pakistan (SECP).
- Please keep in mind that SECP will only consider complaints that were initially asked to be resolved directly by the firm and were not resolved.
- Furthermore, complaints that are not related to the SECP’s regulatory domain/competence will not be considered.
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