SHEFI Insurance Agency LTD. was Established in 1986 as an IOCEA's subsidiary. SHEFI insurance agency's main goal is to provide a focused solution for the unique needs in the engineering and architects planning field.
Since 2005, following efforts on the part of SHEFI's Chairman of the Board of Directors, Eng. Shmuel Engel, the agency is collaborating with Ayalon Insurance Company and Howden insurance agency. Since then, IOCEA's members are offered a unique professional insurance program, which include (inter alia) an improved and enhanced policy wording, that evolves in accordance to the development of the discipline; a risk management mechanism for the removal of vexatious discussions, with low deductibles or entry in the insurance record; insurance continuity; Competitive rates; A 12.5% discount – given by Ayalon, for IOCEA members only.
Furthermore. SHEFI through Howden- the management agency, renders insurance consultancy services to SHEFI's insured's, assisting them in -reviewing insurance clauses in agreements they participate.
The Meaning of This Achievement
The policies offered by the SHEFI Insurance agency were put together with profound knowledge of the engineering and architects at the planning field, which makes them suitable for all professionals in this field and provides them with maximum protection. Now, more than 38 years after its establishment, it is evident that IOCEA has grown, as many engineers and architects have joined and continue to join, thanks to the SHEFI professional-accountability insurance policy.
Additional advantages
SHEFI's insureds under the professional insurance program enjoy supplementary limits of indemnity under unique umbrella policy, which was held by Ayalon.
The policy provides the insured who have purchased professional liability policy through SHEFI and qualify- excess coverage.
The current limits of the insurer's liability under the umbrella policy are:
• NIS 5,000,000 any Single Claim per insured, but max
• NIS 20,000,000 combined for all claims from the same Insured Event combined for all insureds, but max
• NIS 40,000,000 combined for all claims during the insurance period of the umbrella policy
This policy is renewed from time to time according to market terms and availability.
SHEFI's insureds under the professional insurance policy also enjoy cyber coverage under cyber umbrella coverage.