E.F.U. General Insurance Company Limited, Pakistan - Top Insurance

EFU General Insurance Ltd is Pakistan’s largest and oldest general insurance firm, always willing to go above and beyond to provide superior service. From its inception in 1932, the firm has handled the difficulties of changing times. It has a diverse client base, covers more sorts of risks than any other, increased competence, and delivered on commitments.

1. Introduction – E.F.U General Insurance Company Limited

In 2017, EFU General Insurance Ltd., comprising its Takaful (Islamic Insurance) activities, surpassed the Rs.20 billion premium/contribution mark. It is the first general insurance firm in Pakistan’s history to reach this milestone.

EFU General offers a comprehensive range of insurance services to meet the needs of both commercial and individual clients. It offers Fire, Engineering, Maritime, Aviation, Motor, Miscellaneous, and Takaful (Islamic Insurance) coverage. It has a diverse client base and writes all classes of industrial and commercial risks, as well as retail business such as travel insurance and auto insurance.

National and international rating agencies rank it. viz., VIS, PACRA of Pakistan, and AM Best of the United States. VIS and PACRA issued ratings of AA+ with stable outlooks, while AM Best provided ratings of B with stable outlooks. EFU has achieved ISO 9001:2015 certification.

In recognition of EFU General’s contributions to Pakistan’s industry and economy, it has received numerous awards, including the Corporate Excellence Award of the Management Association of Pakistan, the Best Corporate Report Award of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP), the Achievement Award and Gold Medal of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and the SAFA Best Corporate Report Award.

EFU General is Pakistan’s most powerful trusted brand and the top insurer of Chinese infrastructure projects (CPEC). It has always played an important role as an institution, providing the Pakistan insurance business with the leadership, people, and motivation required to thrive and overcome problems.

2. Details – E.F.U General Insurance Company Limited

2.1 Vision Statement – E.F.U General Insurance Company Limited

To continue our journey to be better than the best.

Vision Statement – E.F.U General Insurance Company Limited

2.2 Mission Statement – E.F.U General Insurance Company Limited

To provide services beyond expectation with a will to go an extra mile. In the process, continue to upgrade technology, human resource and reinsurance protection.

Mission Statement – E.F.U General Insurance Company Limited

2.3 Values – E.F.U General Insurance Company Limited

Our philosophy is to be the leading company with service above par with integrity, excellence and professionalism.

Values – E.F.U General Insurance Company Limited

3. Intro Video – E.F.U General Insurance Company Limited

4. Types of Insurances – E.F.U General Insurance Company Limited

EFU General offers a comprehensive variety of insurance services to meet the needs of all of its customers, both business and individual. Our product line comprises the following items:

4.1 Marine & Aviation – E.F.U General Insurance Company Limited

Marine Insurance is said to be Mother of all insurances

Marine insurance covers both marine cargo and marine hull. Aviation insurance protects aircraft, liabilities, airports, and other assets in the aviation business.

4.1.1  Marine Cargo –  E.F.U General Insurance Company Limited

As commodities are transported from one location to another, they are vulnerable to a number of hazards. Hazards of fire, theft, rain water damage, rioting, strikes, war, vessel sinking, piracy, and so forth. Because there is no way to prevent these risks, the best realistic method to avoid loss is to get Marine Cargo Insurance. It pays the cargo owner for cargo loss or damage caused by a wide range of hazards, including but not limited to:

Coverages for Marine Cargo Insurance:

1. Fire
2. Accident to the carrying conveyance
3. Sinking of the vessel
4. Loss of package whilst loading and unloading from the conveyance
5. Terrorism
6. Earthquake

Marine Cargo Insurance covers are based on clauses designed by International Underwriter’s Association (IUA), London. They are called Institute clauses. All Marine Cargo Insurance covers are issued on the basis of:

• Institute Cargo Clauses A
• Institute Cargo Clauses Air
• Institute Cargo Clauses B
• Institutes Cargo Clauses C
• Institute War Clauses Cargo
• Institute War Clauses Air Cargo
• Institute Strikes Clauses Cargo
• Institute Strikes Clauses Air Cargo

And also

• Road / Rail Cargo Clauses A
• Road / Rail Cargo Clauses B
• Road / Rail Strikes Clauses Cargo

4.2 Marine Hull and Machinery – E.F.U General Insurance Company Limited

All watercraft, particularly huge boats, are constantly at danger of loss or damage as a result of marine hazards. Marine hull and machinery insurance gives the needed protection to the insured. Coverage is offered for all types of watercrafts, including boats, barges, pontoons, and water scooters.

Coverages can be bought on all risk OR restricted perils basis.

The items adhere to worldwide maritime practices and wordings. Tailor-made items are also created to fulfil the diverse wants of clients. The underwriting and claims personnel are well-trained and experienced. The cost is competitive, which makes the product appealing to the customer.

EFU is a market leader in port terminal and liability risk insurance. We have several of the country’s main port facilities on our books.

EFU has extensive expertise dealing with beaching issues. This insurance is purchased by the ship breaking business for their boats that are brought in for breakage at Gaddani Beach. Whether the vessel is being towed or travelling on its own, whether the journey is in or out of monsoon season, we provide reasonable terms of coverage combined with first-rate service.

4.3 Aviation Insurance – E.F.U General Insurance Company Limited

EFU is a well-known name in the aviation insurance industry.

EFU has the knowledge and resources to meet its customers’ insurance needs, whether they are for a tiny single engine aircraft or a major commercial airline.

4.3.1  General Aviation – E.F.U General Insurance Company Limited

Our clients include flying clubs, aircraft operators, and huge corporations with their own private planes for personal and official usage. We cover both rotor and fixed wing aircraft.

Coverages include:

• Hull all risks and liability including coverage for spares
• Hull War Risks
• Personal Accident to crew
• Loss of License

4.3.2  Commercial Aviation – E.F.U General Insurance Company Limited

EFU has extensive expertise in commercial aviation. Insurance for commercial scheduled flights is centered on high service requirements. Our staff understands our clients’ service requirements and works relentlessly to exceed their expectations.

Coverages include:

• Hull all risks and liability including coverage for spares
• Hull War Risks
• Personal Accident to crew
• Hull Deductible
• Excess War (AVN 52E)
• Loss of license

4.3.3  Liability Covers – E.F.U General Insurance Company Limited

We also offer liability insurance to many firms associated with the aviation industry.

Liability covers to different businesses linked to aviation:

• Airport liability
• Aviation refueling liability
• Hanger keeper liability insurance
• Product and cargo liability

We also provide coverage to UAV (Unmanned Aerial Vehicles) commonly known as DRONES.

The coverages include equipment insurance and third-party liability covers

4.2 Fire & Property insurance – E.F.U General Insurance Company Limited

EFU Insurance offers a diverse portfolio covering industrial, commercial, and service activities, covering commercial property, industrial, and energy risks.

Following is the list of benefits being offered.

4.2.1  Fire Insurance – E.F.U General Insurance Company Limited, Pakistan

A fire and natural lightening protection plan suitable for any home owner, industry, mill, school, office, go down, shop, etc. against loss or damage to building, stock, machinery, furniture, fixture, fittings, electrical appliances and other contents in the event of unforeseen and sudden loss or damage.

Fire Insurance is covered in two different types:

4.2.1.1 Fire and Allied Perils Insurance – E.F.U General Insurance Company Limited, Pakistan

Every firm has its own set of risks and hazards, which can lead to financial losses and economic instability.

The insurance can be expanded to include the following perils/covers in addition to the regular fire cover.

Coverage of Fire and Allied Perils

• Explosion
• Aircraft damage
• Impact damage
• Atmospheric Disturbance
• Earthquake
• Riot and strike damage
• Malicious damage
• Burglary
• Electrical Clause ‘B’

4.3 Property All Risk – E.F.U General Insurance Company Limited, Pakistan

This policy offers coverage for accidental physical loss or damage to insured property, including factories, power plants, buildings, and office projects.

Risk Covered

All perils are covered which are not significantly excluded making the cover very vast. However key covers are stated below:

• Fire
• Lightning
• Explosion
• Aircraft damage
• Impact damage
• Earthquake
• Riot
• Strike
• Civil commotion
• Malicious Damage
• Burglary
• Machinery Breakdown (cover can be extended.)

4.4 Engineering Insurance – E.F.U General Insurance Company Limited

Engineering insurance protects civil work, plant, and machinery from sudden, unforeseen, and accidental losses, offering all-risk coverage for projects and large industrial installations.

Classification of Engineering Insurance

Engineering insurance is divided in two major classes that cover both operational and nonoperational phases of civil works.

4.4.1 Non-Renewable Cover – E.F.U General Insurance Company Limited, Pakistan

A protection plan covers nonoperational risks include:

4.4.2 Renewable Cover – E.F.U General Insurance Company Limited, Pakistan

A protection plan covers from predefined hazards and risks of operational risks include:

4.5 Terrorism Insurance – E.F.U General Insurance Company Limited

Terrorist attacks pose a significant risk to businesses and individuals, causing widespread injury and property damage. They can also cause business interruptions, loss of attraction, and potential future attacks.

Coverage:

• Terrorism
• Sabotage
• Mutiny
• Malicious damage
• Strikes, Riots and Civil Commotion
• Insurrection, Revolution and Rebellion
• War

4.6 Motor Insurance – E.F.U General Insurance Company Limited, Pakistan

Following are the Insurance covers offered:

4.6.1 Private Vehicle Comprehensive Insurance – E.F.U General Insurance Company Ltd

Comprehensive coverage offers insurance against car damage, including accidental loss, theft, and third-party liability claims, protecting clients financially.

Private Vehicle Comprehensive Insurance Covers:

• Accidental external means
• Whilst in transit by air, road, rail, inland waterway lifts or elevator
• Burglary house-breaking or theft
• Flood, hail, wind, hurricane, cyclone, tornado or typhoon
• Fire external explosion self-ignition or lightning or frost
• Earthquake volcanic eruption or other convulsion of nature
• Riot and Strike
• Malicious act

4.6.2 Commercial Vehicle Insurance –  E.F.U General Insurance Company Limited, Pakistan

The firm will compensate the insured for any loss or damage to the car and its accessories.

Commercial Vehicle Insurance Covers:

• Accidental external means
• Fire external explosion self-ignition or lightning or frost
• Riot and Strike
• Malicious act
• Burglary house-breaking or theft
• Flood, hail, wind, hurricane, cyclone, tornado or typhoon
• Earthquake volcanic eruption or other convulsion of nature
• Whilst in transit by air road rail inland waterway lift or elevator

4.6.3 Motorcycle Comprehensive Insurance – E.F.U General Insurance Company Limited, Pakistan

The firm will compensate the insured for any loss or damage to the car and its accessories.

Motorcycle Comprehensive Insurance Covers:

• Accidental external means
• Fire external explosion self-ignition or lightning or frost
• Burglary house-breaking or theft
• Riot and Strike
• Malicious act
• Flood, hail, wind, hurricane, cyclone, tornado or typhoon
• Earthquake volcanic eruption or other convulsion of nature
• Whilst in transit by air road rail inland waterway lift or elevator

4.7 Miscellaneous – E.F.U General Insurance Company Limited

EFU provides various insurance products, including travel, financial lines, liabilities, money, crop loans, personal accidents, and plate glass.

Following are the Insurance covers offered:

5. Branches – E.F.U General Insurance Company Limited

Following are the branches of EFU General Insurance ltd:

1. EFU General Insurance Ltd. – Faisalabad
2. EFU General Insurance Limited City Branch – Faisalabad
3. EFU General Insurance Saddar – Rawalpindi
4. EFU General Insurance – Lahore
5. EFU General Insurance Ltd – Bahawalpur
6. Efu General Insurance Ltd – Multan
7. EFU GENERAL INSURANCE LTD (E.P.Z.Branch) – Karachi
8. EFU General Insurance Ltd Central Division

6. Board of Directors – E.F.U General Insurance Company Limited

The company’s board of directors is listed below.

7. Required Documents – E.F.U General Insurance Company Limited

For Cargo Insurance:

For cargo insurance following information is considered as very important,

• Details of Goods.
• Value of Goods.
• Basis of valuation.
• Date of shipment.
• Period of Insurance (in case of period covers)
• Voyage or point of loading & unloading.
• Loss history

Following set of documents are required for claiming insurance

• Your company’s registration certificate
• Your company’s NTN
• Proforma invoice
• Packing list
• Form-e (in case of export)

8. Clients – E.F.U General Insurance Company Limited, Pakistan

1. Habib Metropolitan Bank
2. Falcon- i
3. CPEC

9. Online Helpline – E.F.U General Insurance Company Limited, Pakistan

1. Phone Number: 9221-2310399 / 2313490 / 2313471 / 2313472
2. Address: EFU House, (Former Qamar House) M.A. Jinnah Road, Karachi 74000
3. Email: info@efuinsurance.com
4. Complaints: https://efuinsurance.com/resource/certificates/complaints-resulation.pdf

Claim

Motor Claim: https://online.efuinsurance.com/eClaimintimation/claimintimation.jsp 

Travel Claim: https://online.efuinsurance.com/App_travel_claim_intimation/intimation.jsp

10. Verification – E.F.U General Insurance Company Limited

EFU General Insurance is verified from:

https://jamapunji.pk/verify/licensed-entity-detail/efu-general-assurance-limited

11. Disclaimer – E.F.U General Insurance Company Limited

• If they EFU General Insurance Limited 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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