East West Insurance Corporation Limited was established in 1983 as a public limited corporation. The company writes a variety of general insurance products such as fire, marine, motor, health, engineering, and bonds and credit insurance.
- 1. Introduction – East West Insurance Company, Pakistan
- 2. Details – East West Insurance Company, Pakistan
- 3. Intro Video – East West Insurance Company, Pakistan
- 4. Types of Insurances – East West Insurance Company, Pakistan
- 4.1 Fire and Property – East West Insurance Company, Pakistan
- 4.2 Marine And Cargo – East West Insurance Company
- 4.3 Motor Insurance – East West Insurance Company, Pakistan
- 4.4 Bonds and Engineering – East West Insurance Company, Pakistan
- 4.5 Health and Travel Insurance – East West Insurance Company, Pakistan
- 4.6 Miscellaneous Insurance – East West Insurance Company, Pakistan
- 4.7 Crops Insurance – East West Insurance Company, Pakistan
- 5. Required Documents – East West Insurance Company, Pakistan
- 6. Branches – East West Insurance Company, Pakistan
- 7. Board of Directors – East West Insurance Company, Pakistan
- 8. Online Helpline – East West Insurance Company, Pakistan
- 9. Verification – East West Insurance Company, Pakistan
- 10. Disclaimer – East West Insurance Company, Pakistan
1. Introduction – East West Insurance Company, Pakistan
East West Insurance is a pioneer in the sector of crop and livestock insurance. The firm writes a wide range of general insurance products, including fire, marine, motor, health, engineering, bonds, and credit insurance. East West Insurance is a market leader in crop and livestock insurance.
The Yunus family owns the bulk of the Company through seven persons who are members of the families of three Yunus brothers. For the stockholders, the organization has formed a holding company. This vehicle will still house the owner’s investment.
The sponsors have devised a succession plan for the family business enterprise that outlines the smooth transfer of managerial tasks from the elder generation to the next. While adding sanctity to the connection, this plan also reveals how each individual will handle succession planning, adhere to vision and strategy, and bring good change to the Company.
The family has been in the insurance industry for three decades and has the necessary abilities and expertise to lead the Company. In the past, shareholders have demonstrated a strong proclivity to safeguard the Company.
The company has a reduced organizational structure with clear reporting lines, which ensures that functions are separated. In order to keep the Company’s activities running smoothly.
The company’s activities are administered through three primary offices in Karachi, Lahore, and Islamabad, with its head office in Karachi. The organization’s senior management is made up of skilled and experienced experts that have a lengthy history with the company. The appointment of Mr. Saad Yunus, son of Naveed Younus, as chief operating officer has strengthened the management team.
The claim settlement method is decentralized at the branch level, with the main office just observing. The authority remains at the level of the Principal Offices. The central office establishes and examines the boundaries for branch settlement on a regular basis. Claims that exceed that limit are not only disseminated to upper management, but are also monitored by Head Office.
2. Details – East West Insurance Company, Pakistan
2.1 Vision Statement – East West Insurance Company
Quality Services, Innovative Solutions and comprehensive risk cover.
To be amongst most trusted Insurance security of the country by providing protection to our Insured on most effective basis ensuring prosperity for its stake holders and growth with human resource.
Vision Statement – East West Insurance Company, Pakistan
2.2 Mission Statement – East West Insurance Company
Long term commitment to our valued clients.
To ensure most effective management for sustained growth of the company.
To provide reliable secure protection for the policy holders.
To retain sound position of the company in industry while working with dedication & innovation.
To maintain continuous pursuit for cost effectiveness, enhanced productivity for ensuring financial health of the organization, to take care of shareholders aspiration continuously.
To inculcate value added system all cross the organization for ensuring trustworthy relationship with its clients as well as shareholders.
Mission Statement – East West Insurance Company, Pakistan
3. Intro Video – East West Insurance Company, Pakistan
4. Types of Insurances – East West Insurance Company, Pakistan
The many forms of insurance offered by East West Insurance are listed below.
4.1 Fire and Property – East West Insurance Company, Pakistan
This insurance covers loss or damage caused by fire and/or lightning to residential and commercial premises and their contents. The contract, however, would be extended by charging an extra premium to cover associated perils/risks as required by the insured. The following are the optional perils/risks:
- Loss or damage caused by Riot & Strikes.
- Loss or damage caused by Malicious Act.
- Loss or damage due to Atmospheric Disturbances, like flood, hurricane, tornado, rain etc.
- Loss or damage caused by explosion.
- Loss or damage due to fall of Aircraft and/or their parts.
- Loss or damage by Impact Damages.
- Loss due to Burglary.
- Loss or damage due to earthquake.
4.2 Marine And Cargo – East West Insurance Company
Marine insurance protects against loss or damage to cargo during routine shipping. Any loss or damage sustained during transportation/voyage would be compensated in accordance with the appropriate Institute Cargo and/or Rail/Road Clauses. The three categories of Maritime Cargo Insurance are as follows:
4.2.1 Import Insurance – East West Insurance Company
The import of all forms of cargo from other nations through sea, air, and/or rail/road is referred to as “Marine Import Insurance.”
4.2.2 Export Insurance – East West Insurance Company
“Marine Export Insurance” refers to all forms of cargo transferred to other nations through sea, air, and/or rail/road.
4.2.3 Transit Insurance – East West Insurance Company
This insurance covers loss or damage to products while they are being transported inside the country by sea, air, and/or rail/road.
Loss Compensation
The following risks are supposed to be happening during voyage: –
- Loss due to theft of goods
- Loss due to Snatching of goods
- Loss or damage due to Fire
- Loss or damage due to breakage/wear and tear of goods
- Loss or damage due to terrorism
4.3 Motor Insurance – East West Insurance Company, Pakistan
All sorts of motor vehicles would be protected against theft/snatching, fire, and/or accidental damage, among other things. Furthermore, motor plans cover the loss or damage of third-party responsibility risks.
Details of Indemnification:
- Accident external means
- Fire external explosion, self-ignition, or lightning or frost.
- Burglary, House Breaking or theft.
- Malicious Act.
- Riot Strike.
- Flood, Hail, Wind, Hurricane, Cyclone, Tornado or Typhoon, Earthquake.
- Whilst in transit by Air, Road/Rail, inland waterway, lift or elevator.
- Motor Vehicles Act and common law as applicable.
4.4 Bonds and Engineering – East West Insurance Company, Pakistan
Banks are responsible for bonds and guarantees. Nevertheless, in general insurance, it is written to cover an engineering portfolio in which contractors are provided several sorts of bonds/guarantees, as shown below:
- Bid Bond.
- Performance Bond
- Advance payment Bond.
- Retention Money Bond.
- Maintenance Bond
- Custom Bond
- Transportation Bond.
Engineering Insurance covers the following insurance policies:
| Errection All Risk (EAR) Insurance | This policy safeguards principals, contractors, and subcontractors from loss or damage caused by various hazards during plant, machinery, and heavy equipment erection, including third-party claims. |
| Contractors All Risk (CAR) Insurance | This insurance offers comprehensive coverage for project works, equipment, plant, machinery, property damage, and third-party injuries, covering all risks and natural hazards. |
| Machinery Breakdown (MB) Insurance | Machinery Breakdown Policy covers industrial plant, machinery, and equipment for unforeseen losses, indemnifying insured for repairs. |
| Electronic Equipment (EE)Insurance | Electronic Equipment Insurance covers unexpected equipment loss or damage. |
4.5 Health and Travel Insurance – East West Insurance Company, Pakistan
4.5.1 Health Insurance – East West Insurance Company, Pakistan
Our policy offers comprehensive coverage for hospital stays, maternity expenses, OPD, specialized investigations, and major medical care. It is generous, customizable, and suitable for corporate clients seeking medical coverage for employees and families. With an independent division managing group health, it covers employees, spouses, children, and parents.
4.5.2 Wide Panel Hospital Network
Panel of hospitals offers quality healthcare services, industry reputation, and well-equipped facilities nationwide.
4.5.2.1 Online Web Portal
EWI has launched a web portal for organization contact persons, offering real-time policy updates and itemized details on claim and member status.
4.5.2.2 24/7 Helpline
Access a 24/7 helpline for insured policy queries and procedures, providing on-the-spot assistance 24/7.
4.5.2 Travel Global – East West Insurance Company, Pakistan
Travel Insurance is crucial for avoiding mishaps during holidays or business trips. Our “Travel Global” travel health insurance certificate offers comprehensive medical coverage, approved by Schengen Embassies, and provides US$5,000/- in medical protection. To receive prompt assistance, contact Alarm Centers within 48 hours of a mishap and ensure you have the certificate and supporting documents.
4.6 Miscellaneous Insurance – East West Insurance Company, Pakistan
Miscellaneous insurance offers protection for insureds, including money in safe, which protects against theft or robbery losses for companies, banks, financial institutions, and department stores.
| Money in Transit | Money in Transit policy covers loss of cash, bank notes, cheques, postal orders, and insurance during transit. |
| Neon Sign Insurance | Neon Signs in public places face risk; cover provides financial compensation for accidental losses. |
| Fidelity Guarantee | Employer insurance safeguards against forgery, embezzlement, larceny, fraud, or dishonesty, involving an agreement between insured and insurer to cover losses. |
| Plate Glass Insurance | Plate glasses are common decorations in department stores, shops, and show rooms; policy compensates insured for losses or damages. |
| Personal Accident | Accident insurance covers death, permanent disability, and temporary disablement, covering medical expenses and individual and group coverage. |
| Workmen’s Compensation (WC) | Low-income workers’ insurance safeguards their rights in case of injury or death, ensuring employers meet legal liabilities under Workmen’s Compensation Act. |
4.7 Crops Insurance – East West Insurance Company, Pakistan
Our liability portfolio produces around 5 to 10% of our overall premium income. Its portfolio expanded rapidly as a result of increasing activity by multinational enterprises and contractual firms operating in Pakistan. Using this portfolio, we received a gross premium of Rs. 47.06 million in 2013.
5. Required Documents – East West Insurance Company, Pakistan
Required Documents for Marine Insurance
- Name of Insured
- Complete address of consignee/consignor
- Shipping advice, truck and/or Bilty Nos. and date of shipment/dispatch etc.
- Complete details of goods.
- International Packing standard etc.
6. Branches – East West Insurance Company, Pakistan
East West Insurance Company has branch network all over Pakistan, some of which are mentioned below
- Islamabad
- Karachi
- Peshawar
- Quetta
- Attock
- Gilgit Baltistan
- Khairpur
- Larkana
- Mardan
- Skardu
For more branches information and above-mentioned branches details visit the following website;
7. Board of Directors – East West Insurance Company, Pakistan
East West Insurance Company Board of Directors are
| Chairman | Chief Justice ( R ) Mian Mahboob Ahmad |
| Director | Javed Yunus |
| Director | Pervez Yunus |
| Director | Umeed Ansari |
| Director | Saad Yunus |
| Director | Ahsan Mahmood Alvi |
| Director | Urooj Yunus Ansari |
| Director | Mazhar Zubair Abbasi |
8. Online Helpline – East West Insurance Company, Pakistan
- UAN Number : 0800 – 88008
- Phone Number: + 922135630400-11
- Email address: info@ewi.com.pk
- Address: East West Insurance Company Limited B-401-404, 4th Floor, Lakson Square Building -3, R.A. Lines, Karachi
- Complaint: complaints@secp.govt.pk
9. Verification – East West Insurance Company, Pakistan
Company is verified from following website,
https://jamapunji.pk/verify/listed-company/east-west-insurance-co-limited
10. Disclaimer – East West Insurance Company, Pakistan
- If the East West Insurance Company 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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