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Madison Money Market Fund Daily Yield: 14.53% Effective Annual Yield: 15.54% Madison Fixed Income Fund Daily Yield: 14.97% Effective Annual Yield: 16.05% Madison Wealth Fund Weekly Average Daily Yield: 14.13% Weekly Average Effective Annual Yield: 15.08%

We protect and insure you receive your goods in one piece.

If you’re in the business of transporting/distributing goods throughout the country, this policy is for you.

  • Cost of debris removal in the course of removal of property damaged, from the immediate area of the site where damage occurred.
  • Transferring property from the vehicle following an accident and reloading to another.
  • Securing and protecting the property at the site of accident.
  • Damage (excluding wear and tear) to tarpaulins, sheets, trailer curtains, ropes, chains, webbing straps and packing materials following an accident.
aerial view of delivery truck on the highway

Loss, Destruction or Damage caused by:

  • Wear and tear, depreciation, deterioration, inherent vice or defect, damp, vermin, insects, fungi, rust, oxidation and/or discoloration, except as a direct result of fire, theft or accident to the mode of transport.
  • Atmospheric or climatic conditions or contamination except as a direct result of fire, theft or accident to the shipment.
  • Defective or inadequate packing or insulation.
  • Theft or attempted theft of goods transported in any open-top or open-sided vehicle.
  • Theft or attempted theft of goods whilst the vehicle is left unattended unless the property is contained in a securely locked vehicle and the keys removed from the vehicle or the vehicle itself is stationed in a securely locked building and entry to the vehicle or building is done by forcible and violent entry to or exit.
  • If any form of willful misconduct, theft, dishonesty, disappearance or unexplained inventory shortage is picked up.
  • Delay, loss of market, indirect loss or subsequent loss of any kind.
  • Breakdown of refrigeration equipment.
  • Detention, confiscation, nationalization, requisition or willful destruction by any government, public, municipal, local or customs authorities.
  • Pressure waves caused by aircraft and other aerial devices travelling at sonic and supersonic speeds.
  • Loss of any liquid gas or goods from containers by leakage, spillage, evaporation or loss in weight or volume.
  • The shipment and/or storage of explosives acids chemicals and gases and goods of dangerous nature.
  • Any legal liability caused or contributed by ionizing radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel.
  • Any loss or liability caused by acts of terrorism.
  • Any loss or damage through war or invasion, abandonment or temporary dispossession resulting from confiscation, seizure, restraint, commandeering, nationalization, appropriation destruction or requisition by order of any government or popular rising, military rising, insurrection, rebellion.
  • Loss or damage occurring outside the territorial limits stated in the schedule.
  • The amount of excess applicable to the policy.

Types of goods not covered in this Policy:

  • Deeds, bonds, bills of exchange, promissory notes, money or other negotiable currency, securities or stamps.
  • Documents, manuscripts, business books, computer systems records, patterns, models, mold, plans or designs.
  • Electrical or electronic equipment, cameras and photographic equipment.
  • Bullion, jewelry, precious metals, precious stones, platinum, gold or silver articles, furs, watches, curios or works of art, tobacco, cigarettes, wines, spirits and the like.
  • Travelers’ samples, tools, equipment, machinery, plant or any property entrusted to you as a carrier under a contract for transport or storage of such property.
  • Glass and other articles of brittle nature except as a direct result of fire, theft or accident to the conveying vehicle.
  • Livestock and/or living creatures.
  • Interpretation

It’s important to take note of everything stated in your schedule/policy once you’ve been insured as this will guide both you and your agent on what is and isn’t required.

  • Full Disclosure

Remember to be completely open and honest about what you need insured. Anything that is misrepresented or omitted by the said proposal will be considered null and void and any benefits payable under the same will be forfeited.

  • Reasonable Care

It’s important to ensure that the conditions surrounding the transportation of your goods are suitable. This includes, the people involved in the active transportation are well trained, the vehicle (s) is/are suitable for carriage and are in good working condition and during active transportation, your goods are well protected.

  • Claims Co-operation

In an event of a claim, we’ll probably need to view the goods at the scene of the incident so it’s important to take note of this. You’ll also be required to present all the necessary documentation when doing so and provide all the assistance and co-operation we’d need in connection to the claim. In doing so, be sure to avoid exposing the goods to further damage.

  • Contribution

If you have any other insurance policy that covers the same risk, we will not be liable to pay more than our proportion of the loss.

  • Subrogation

You’re free, (at your own expense) to involve a lawyer to recover any property lost or its value against the party to blame. You shall give all reasonable assistance for that purpose.

  • Under-insurance

If the damage or loss happens to be larger than what was already stated in your schedule, you’ll be required to share the proportionate loss accordingly.

  • Fraudulent Claims

If you and your representatives makes a claim that’s dishonest, the claim shall not be payable.

  • Communication

All notices and information must be put in writing.

  • Alteration

If they’re things you’d wish to change in your policy, be sure to have it officially written to us to avoid any loss you might experience in the future.

  • Transfer of Rights

Nothing contained in this Policy shall unless stated give rights against us to any person other than you and your representatives. Unless by death or operation of Law shall by endorsement declare the insurance to be continued.

  • Cancellation

This Policy may be cancelled at any time at your request in which case, we’ll retain a premium calculated on pro rata basis for the time this Policy has been in force and provided no claim has arisen during the current period of Insurance. This Policy may also be cancelled by us with 14 day’s notice being given in writing to you. In this case we’ll be liable to return a proportionate part of the premium for the unexpired term of the Policy from the date of cancellation.

  • Due Observance

Compliance, observance and fulfillment of the terms of this Policy by you is a condition precedent to any liability attached under this Policy.

  • Disputes Between You and Us

If any issues arise with any matter in relation to this policy, we’d need to refer to a single mediator and arbitrator agreed between us within thirty 30 days of the dispute arising and the mediation process to be finalized not later than thirty 30 days. Any costs regarding this would be split equally.

  • Premium Adjustment

Take note to keep an accurate record of the value of goods insured as you’ll be required to submit a declaration of the actual value transited for the expired Period of Insurance and the premium will be adjusted accordingly and the difference shall be paid by or allowed to the Insured as the case may be.

  • Jurisdiction Clause

The indemnity provided by this Policy shall apply only in respect of judgments which are in the first instance delivered by or obtained from a court of competent jurisdiction within the Republic of Kenya.

  • A Completed claim form
  • A Consignment Note/Waybill number
  • Discrepancy Note (Especially in partial loss cases)
  • Amount of loss
  • Description of loss
  • Police Abstract Report (This is required for theft cases or where third parties are involved).

For any inquiries or assistance, feel free to contact us. We’re here to support you every step of the way.

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Livestock Insurance
Machinery Breakdown
Marine Insurance
Motor Asset – PSVs
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