AXA Affin General Insurance has launched Business Advantage Plus (Enhanced), or BAPE, a business protection plan for small and medium enterprises (SMEs).
The policy covers fire and other insured perils, such as burglary, public liability, and workmen’s compensation, according to a statement from AXA’s Malaysian general insurance arm.
It also provides an “inconvenience allowance” with two payout benefits. The first benefit comes within five working days after the incident (applicable only to physical damage), and a second of up to 10% of claims payable for selected plans will be paid upon receipt of full documents and claims verification.
BAPE also