On the twenty-first day of October of 1959, The United Insurance Company Limited, Pakistan of Pakistan Ltd was founded. In Pakistan, especially East Pakistan, it was in use (now Bangladesh). UIC has more than 100 branches functioning throughout Pakistan. UIC conducts general business, which includes livestock and crop insurance, travel insurance (health), travel bonds, and guarantees.
- 1. Introduction – United Insurance Company Limited, Pakistan
- 2. Details – United Insurance Company Limited, Pakistan
- 3. Intro Video – United Insurance Company Limited, Pakistan
- 4. Types of Insurance – United Insurance Company Limited, Pakistan
- 5. Required Documents – United Insurance Company Limited, Pakistan
- 6. Branches – United Insurance Company Limited, Pakistan
- 7. Board of Directors – United Insurance Company Limited, Pakistan
- 8. Clients – United Insurance Company Limited, Pakistan
- 9. Online Helpline – United Insurance Company Limited, Pakistan
- 10. Verification – United Insurance Company Limited, Pakistan
It is a limited liability company that is traded on the Pakistan Stock Exchange (Formerly Karachi Stock Exchange Limited). UIC directors come from a variety of backgrounds and occupations.
1. Introduction – United Insurance Company Limited, Pakistan
The United Insurance Company Limited, Pakistan of Pakistan Ltd was established in 1959 with 20% stock from the Pakistan Insurance Corporation by Mr. Fakhruddin Valika, one of Pakistan’s leading industrialists at the time (now Pakistan Reinsurance Company).
The Valika Textile Mills Ltd. was one of the industrial projects held by Mr. Fakhruddin Valika. It was established in 1947 by the Most Honorable Quaid-e-Azam Muhammad Ali Jinnah, who also served as Pakistan’s first governor general. Along with being a board member of Pakistan Insurance Corporation and Muslim Commercial Bank Ltd., Mr. Fakhruddin Valika also controlled a steamship company.
Mr. Fakhruddin Valika served as chairman of the United Insurance Company Limited, Pakistan continuously from 1959 till his passing in December 1972. At first, in addition to general insurance, United Insurance had a license to offer life assurance.
At first, United Insurance was permitted to offer both general insurance and life insurance. The United Insurance Company Limited, Pakistan had a wide network of WEST PAKISTAN and EAST PAKISTAN branches throughout all of Pakistan (Now Bangladesh). The company conducted specialized insurance business in the general insurance sector, including engineering (EAR, CAR, machine breakdown, and bonds), marine and aviation hulls, hail storms, and loss of profits.
As a composite company, the company got off to a respectable start with the help of Pakistan Insurance Corporation, and it continued to advance until the nationalization of its life sector in the 1970s. Although the United Insurance Company Limited, Pakistan was a captive insurance company, its re-insurers in London, Zurich, and Munich quickly approved various re-insurance treaties as needed.
In favor of a collection of people, the Valikas relinquished their majority ownership of the Firm in February 1982. Mr. Javaid Sadiq was elected as the company’s chairman on April 29, 2017, and he has a variety of experience in the banking industry, financial institutions, and semi-government autonomies. Mr. Javaid held important responsibilities during his career.
2. Details – United Insurance Company Limited, Pakistan
1. Vision Statement – United Insurance Company Limited, Pakistan
As an insurance Company – To be the “FIRST CHOICE”.
Vision Statement – United Insurance Company Limited, Pakistan
2. Mission Statement – United Insurance Company Limited, Pakistan
By adopting Insurance Technologies will meet the global requirements for the regulators’ compliances, enhance confidence of Shareholders, country’s business community & Generate revenue in shape of taxes.
Mission Statement – United Insurance Company Limited, Pakistan
3. Intro Video – United Insurance Company Limited, Pakistan
4. Types of Insurance – United Insurance Company Limited, Pakistan
There are two main sorts of insurance offered by United Insurance companies.
- For Individual
- For Business
4.1 For Individual – United Insurance Company Limited, Pakistan
4.1.1 Travel Insurance – United Insurance Company Limited, Pakistan
Travel insurance offers both financial and medical aid. Make sure the traveler is adequately and securely protected for any emergency aid before setting out on a journey. For offering these services, Pakistan is home to a large number of travel insurance businesses. The best services are offered to clients by United Insurance Company Limited, Pakistan of Pakistan Ltd. The UIC has an AA PACRA rating.
4.1.1.1 Buy Travel Insurance Online
Clients comfort is our first priority. The UIC initiated the hassle free provision of buy travel insurance online that can be acquired at anytime from anywhere.
4.1.2 Car Insurance – Auto Sure Plan
The United Insurance Company Limited, Pakistan of Pakistan Ltd offers the best auto insurance plans to its customers. The following are some of the wonderful perks and services that United Insurance offers in inexpensive packages:
4.1.2.1 Risk Covered
- Accidental External means
- Riots, Strikes & Malicious Damages
- Theft
- Fire, External explosion, self-ignition or lightning or frost
- Third Party Liability
4.1.3 Home Secure Plan – United Insurance Company Limited, Pakistan
Home insurance covers losses and damages in an individual’s home, especially in Pakistan. The United Insurance Company Limited, Pakistan of Pakistan Limited (UIC) offers customized insurance plans to protect against risks such as robbery, natural disasters, and fire. UIC aims to cushion the financial impact of loss by offering a customized insurance program for cherished homes.
4.1.3.1 Covers
Home Secure Plan covers loss or damage caused by:
- Armed robbery, burglary and house breaking
- Earthquake
- Rain, Flood, Cyclone & Severe Storms
- Riot & Strike damage
- Acts of Malicious Persons
- Fire and Lightning
- Explosion
- Falling Aircraft and other Aerial Devices
- Water damage due to bust pipes
- Impact of Motor Vehicle
- Impact of falling trees
- Accidental loss breakage (glazing)
- Accidental damage to underground tanks
- Loss of Rent
The Loss of Rent feature covers the loss of rental income or additional expense of renting substitute housing incase and insured peril renders your home uninhabitable. It’s is only applicable if building is covered under Home Secure Plan, up to 10% of Sum Insured for Building.
4.1.4 Student Travel Insurance – United Insurance Company Limited, Pakistan
Co-curricular activities offer learning opportunities, while trips and tours prioritize safety and security. UIC offers excellent student travel insurance coverage, while Blanket School Coverage protects students from accidents. Personal Accident insurance covers loss of life, limb, sight, hearing, speech, and use/paralysis. Cash payments are available for hospitalization
4.1.4.1 This policy will cover risks
Child’s home to school accident coverage is available for Rs. 25/- per month, covering up to Rs. 100,000/- for accidents in or outside the school.
4.1.5 Shop Secure Plan Plus – United Insurance Company Limited, Pakistan
Your shop is the breadwinner for you, offering you the opportunity to earn on your own terms and be your own boss. However, it’s also vulnerable to armed robbery, riots, strikes, fire, natural disasters, and weather conditions. UIC offers a customized insurance program to cushion the financial impact of loss related to your shop and stock.
4.1.5.1 Cover
Shop Secure Plan Plus protection covers loss or damage caused by:
- Armed robbery, burglary
- Riot & Strike damage
- Earthquake
- Rain, Flood, Cyclone & Severe Storms
- Acts of Malicious Persons
- Fire and Lightning
- Explosion
- Falling Aircraft and other Aerial Devices
- Impact of Motor Vehicle
- Loss of rent
The Loss of Rent feature covers the loss of rental income or additional expense of renting alternate shop in case an insured peril renders your shop unusable. It is only applicable if Building is covered under Shop Secure Plan Plus up to maximum of 10% of Sum Insured for Building.
4.1.6 Education Secure Plan – United Insurance Company Limited, Pakistan
The child education insurance provides comprehensive coverage for educational costs. 37% of Pakistani youngsters are illiterate, which illustrates the lack of opportunities for these kids to demonstrate their skills. Life is up and down, thus everyone should constantly be ready for any situation. Child education insurance is one of the safeguards for a child’s safe future. Plans for flexible education insurance are offered by UIC.
4.2 For Business – United Insurance Company Limited, Pakistan
4.2.1 Corporate Health Insurance Plan – United Insurance Company Limited, Pakistan
- Complete brand-named program providing value-added features and a total remedy for all health concerns.
- We are here to support you whenever you need it; we are an essential tool in the hassle-free delivery of healthcare services.
- Offset significant medical costs that have a significant impact on health and its maintenance.
- A carefully thought-out and tailored plan specifically created to handle any medical emergencies necessitating hospitalization.
- Among the select few national businesses that directly pay overseas medical charges of Rs 2.3 million.
- Meets all conditions set forth in the government’s policy of universal healthcare.
- Insurance contracts with the best re insurers in the world.
4.2.2 Fire Insurance – United Insurance Company Limited, Pakistan
Our top goal is our clients’ safety. For the convenience of our clients, United Insurance offers a wide variety of Fire Insurance coverages. The following lists the coverages:
| Riot and Strike Damage | This policy covers loss or damage caused by riots, strikes, civil commotions, or malicious damage by individuals aiming to overthrow a government. |
| Allied Perils | Fire and Allied Perils Insurance is crucial for business concerns, offering comprehensive coverage against fire, lightning, riot, strike, malicious damage, atmospheric disturbance, earthquake, explosion, impact, and aircraft damage. |
| Home Insurance Plan | Homeowners face various risks in today’s challenging times, but United Insurance offers a policy to protect their property, including building and contents risks, loss, rent, and legal liability. |
| Hotel Owner All Risk | This policy caters to hotel owner’s insurance needs, adapted from international markets, and includes 8 sections for fire, supplemental, business interruption, machinery breakdown, general liability, 3D bond, and workers’ compensation. |
| Terrorism Cover | Post 9/11, terrorism cover removed globally, requiring Pakistan’s The United Insurance Company Limited, Pakistan to create a terrorism policy. |
4.2.3 Commercial Vehicle Comprehensive Insurance
United Insurance offers top-notch commercial vehicle insurance online for protection and third-party protection.
4.2.3.1 Loss or Damage
The insured is protected against loss or damage to their motor car and its accessories due to accidental external causes, fires, explosions, burglaries, malicious acts, riots, floods, earthquakes, volcanic eruptions, and transit by air, road, rail, or elevator.
4.2.3.2 Liability to Third Party
The policy covers death or bodily injury to third parties, property damage, and driver’s indemnification, even when driving a non-owned vehicle. In case of third party’s death, the company will indemnify the deceased’s personal representatives, subject to policy limitations.
4.2.3.3 Medical Expenses
The insured will receive medical expenses up to Rs. 500/- for accidental bodily injuries. Pre-inspection is mandatory, but damages not covered. Loss intimation is required, and cancellation requires pro rata premium return. This policy is for social domestic and pleasure purposes.
4.2.4 Livestock Insurance – United Insurance Company Limited, Pakistan
United Insurance Company Limited, Pakistan offers top-notch commercial vehicle insurance online, protecting vehicles from losses and third-party damage, ensuring peace of mind and protection.
4.2.4.1 Risk Covered
For livestock insurance, United Insurance offers relevant coverage policies. The following are these coverages:
Protection from financial loss due to animal mortality, theft, and disability, including calving risk.
4.2.5 Crop Insurance – United Insurance Company Limited, Pakistan
Crop insurance covers the cost of financial defense against weather-related events, fire and lightning, and animal or insect attack on standing crops. The survey indicates that Pakistan’s economy is built on agricultural production, hence crop insurance is crucial for protecting farmer investments. The United Insurance Company Limited, Pakistan offers you the top crop insurance services right here for your assistance.
4.2.5.1 Crops Covered
All field Crops.
4.2.5.2 Types of Cover
The consortium provides two types of cover:
- Catastrophe Area Loss Cover (CALC)
- Catastrophe Individual Loss Cover (CILC)
4.2.5 Engineering Insurance – United Insurance Company Limited, Pakistan
Engineering insurance protects against various threats in construction, with United Insurance Company Limited, Pakistan of Pakistan Limited offering top services and packages.
4.2.6 Machinery Breakdown Insurance – United Insurance Company Limited, Pakistan
Machinery breakdown insurance covers machinery damage and losses. As safety is our business, UIC protect all your needs during construction in engineering insurance. The detail of packages are following:
| Bonds | Contractors issue bid bonds for contract submissions with public and private authorities. |
| Contractor’s All Risk Insurance | Comprehensive protection for construction works, equipment, machinery, property, and third-party claims. |
| Contractor’s Plant and Machinery Insurance | Annual insurance for contractors’ plant and machinery, covering work-related losses. |
| Electronic Equipment Insurance | Insurance covers moderate power requirements for electrical systems. |
| Erection All Risk Insurance | Engineering Insurance provides comprehensive protection for machinery, plant, and steel structures erection. |
| Guarantees | Bond issued for contractor and project owner to ensure contract performance. |
| Machinery breakdown | Developed to provide industry-wide insurance for plant, machinery, and equipment. |
4.2.7 Marine Cargo & Hull Insurance – United Insurance Company Limited, Pakistan
4.2.7.1 Marine Cargo Insurance – United Insurance Company Limited, Pakistan
Marine Cargo insurance covers transit goods, covering risks associated with various modes.
4.2.7.2 Marine Hull Insurance – United Insurance Company Limited, Pakistan
Cover for oceangoing vessels, barges, tugs, dredgers, yachts, wooden dhows, and breakup voyages under Institute Time Clauses Hulls.
4.2.8 Banker’s Blanket Insurance – United Insurance Company Limited, Pakistan
A type of insurance called banker’s blanket bond insurance covers damages brought on by employee fraud. It is essential for banking services since it offers protection from several hazards.
The available insuring clauses are as follows:
| Infidelity of Employees | Clause covers employee misappropriation/embezzlement loss. |
| On premises | This clause covers loss or damage to insured property due to fire, fire hazards, and specific premises, including cash in safes and lockers. |
| In-transit | Claim covers property loss or damage during transit. |
| Forgery and Alteration | The clause covers loss due to forgery or alteration, including forged cheques, and monies or goods obtained through such actions. |
| Securities | Clause covers insured securities’ loss or damage due to calamities. |
| Counterfeit Currency | Coverage for loss from accepting counterfeit currency, following standard procedures. |
| Office and Contents | Claim covers office loss, damage, and fixed assets. |
4.2.9 Travel & Cargo Agents Guarantees – United Insurance Company Limited, Pakistan
First time in Pakistan UIC providing CASS Guarantee, DTS Guarantee, PIA – PSA Guarantee, All Domestic Airlines Guarantee and UMRAH Guarantees through Banks in joint collaboration with Summit Bank Limited.
For more information please contact:
Tel: +9221-34304840-43, 34321929-30 Fax: +9221-34314735
Email: zonal@theunitedinsurance.com
4.2.10 Miscellaneous Insurance – United Insurance Company Limited, Pakistan
| Workmen’s Compensation | Employees are valuable assets; Workmen Compensation/Employer Liability Insurance protects employers from legal liabilities. |
| Accident Coverage | Cover provides 24-hour global coverage for capital benefits, medical expenses, and transportation reimbursement for accidents and injuries. |
| Cash in Transit Insurance | Policy covers transit money loss due to force, violence, or visible means. |
5. Required Documents – United Insurance Company Limited, Pakistan
For Crop Insurance;
- Any proof of calamity affected area
- Copy of CNIC
- Receipt of Bank Loan and account statement
- Any proof of loan utilization till loss
- Purchase receipts of seeds, fertilizers and pesticides etc. Number Dar Seal
- Survey Report
- Patwari Kharaba Report
- Aks Shijra
- Insured Application should be attested from
6. Branches – United Insurance Company Limited, Pakistan
United Insurance Company Limited, Pakistan branches are located in,
- Karachi
- Islamabad
- Lahore
- Peshawar
- Faisalabad
- Multan
- Sialkot
- Hyderabad
- Gujrat
- Silakot
For above mentioned branches details and other branches information visit the link ,
https://www.theunitedinsurance.com/branches/
7. Board of Directors – United Insurance Company Limited, Pakistan
United Insurance Company Limited, Pakistan Board of directors are
| Jamil A. Khan | Chairman/Director |
| Muhammad Akram Shahid | Director/CEO |
| Khawas Khan Niazi | Director (Certified Director from ICAP) |
| Huma Waheed | Director (Certified Director from PICG) |
| Mohammed Rahat Sadiq | Director |
| Agha Ali Imam | Director |
| Syed Rahat Ali Shah | Director (Certified Director from ICAP) |
8. Clients – United Insurance Company Limited, Pakistan
- APNA Micro Finance Bank Limited
- United Track System (Private) Limited
- State Bank of Pakistan
- National Bank of Pakistan
- Bank Al-Habib Limited
- Soneri Bank Limited
- Bank Alfalah Limited
- Meezan Bank Limited
- SME Bank Limited
- The Bank of Khyber
9. Online Helpline – United Insurance Company Limited, Pakistan
- U.A.N: (042) 111-000-014
- Telephone: (+92-42) 35776475 to 83
- Fax: (+92-42) 35776486
- Toll Free:0800-84275
- Head Office: UIG House,1 Upper Mall, Lahore, Pakistan.
- E-mail: uicp@theunitedinsurance.com
- Claim: https://www.theunitedinsurance.com/downloads/
10. Verification – United Insurance Company Limited, Pakistan
Company is verified from,
https://jamapunji.pk/verify/licensed-entity-detail/united-insurance-company-pakistan-limited
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