General Insurance

Fire & Special Perils Insurance

We understand how you have put a lot of time, hard work and considerable money into building up your estate and business. We also understand your needs when misfortune strikes when you least expect it. Almost anything can happen at any time – a short circuit can reduce your assets to ashes, a burst pipe can flood your premises, a riot or act of terrorism can wipe away years of effort. To help you protect your business against such uncertainties, we take pride in providing you with our comprehensive protection backed by sound financial capability. This policy protects you from financial loss as a result of "named perils".

Standard perils covered are: Fire, Lightning, Explosion, Storm, Flood and landslides, Impact damage by vehicles/Animals/Aircraft, Riots and strikes, Bursting of pipes/water tanks, sprinkler leakage.

Consequential Loss or Loss of Profits Insurance

This class of Insurance is designed to indemnify you against loss of earning following damage/loss caused by fire and special perils to property insured.

What is Covered?

• Net profit which would have accrued if the fire incident/special peril had not happened.
• Fixed charges as interest, rents rates etc. which are compulsorily payable although no business activities is taking place in the premises again. These are called standing charges in the policy.
• Expenses which will help to facilitate the resumption of normal business and minimize loss of net profit e.g. hiring of temporary premises, engaging the services of extra staff or working overtime. This is called increased cost of working.
• Wages of staff whose services will have to stop immediately due to the fire damage – retained wages of skilled employees whose services are needed/for quick return of the business activities of the company.
• Auditors' fee of the Auditors employed to prepare any claim under the policy.

Goods-in-Transit

This policy indemnifies the insured for loss or damage by any accident or misfortune whilst the property insured is in transit as described in the schedule or whilst in the course of loading on to or unloading from the conveyance or whilst temporarily housed in the ordinary course of transit.

Professional Indemnity

The purpose of the Professional Indemnity Insurance policy is to protect the Professional person against legal liability, by paying damages to persons who have sustained financial loss arising from the professional's negligence or that of his employee in the conduct of business.

Director's Liability

The policy covers every financial and legal liabilities accruable from professional misconduct in act of commission and omission of every member of the board of directors of a company.

Group Personal Accident

As the name implies, this cover provides compensation for bodily injury or death caused by violent accident, external and visible means which could also result in disability. This policy could be taken up by individual, employers for their employees, clubs, societies, schools etc. Cover under this policy can be either a named person basis or position basis.

Money

This policy covers cash and other forms of money, e.g. Cheques, Travellers' Cheques, Bills of exchange etc, against loss from business premises and during transit. Cover can also be provided for cash in safe and can also be extended to include damage to safe. Money in personal custody of senior employees as float can also be covered.

Fidelity Guarantee

Fidelity Guarantee Insurance provides coverage against any direct financial loss sustained by the employer through acts of fraud, dishonesty, forgery or theft committed by his employees in connection with their occupation and duties.

Types of Cover(under FIDELITY GUARANTEE):

Named Basis: This is a situation whereby the names of those that are to be covered are listed specifically in the policy schedule together with the amount guaranteed for each and every one of them.

Position Basis: This takes cognizance of the official designations of the persons covered together with specific amount guaranteed for each of the position listed.

Blanket Basis: Under this method, the policy will cover either the listed category of workers, for example Accountant/Accounting Staff.

Public Liability

Public liability insurance is designed to protect the insured against accidental loss of or damage to third party property or bodily injury (including) death of or illness to members of the public in connection with insured’s business.

This policy also covers the negligent activities of insured’s employees fore loss or damage or bodily injury including death or decease to third party and their property.

Product Liability

This cover essential for all manufacturers, hoteliers or restaurant proprietors. It covers the Insured against legal damages incurred resulting from defects in their products. For example, hoteliers cannot rule out the chances of feed poison while manufacturers stand the risk of defective design or manufacture of their products. We therefore recommend that all hoteliers and manufacturers take up this policy.

Burglary and House Breaking Insurance

Burglary and Housebreaking Insurance is designed to protect the insured against loss of or damage to the insured's property, owned, held in trust or on commission or for which he is responsible following burglary or housebreaking.

The policy covers you against loss or damage as a result of theft to your property accompanied by:

• Actual forcible and violent breaking into a building.
• Actual forcible and violent breaking out of a building.
• Any attempted threat.

Travel Insurance

This policy covers the insured whilst travelling outside the borders of Nigeria as a fare paying passenger in a fully licensed standard type of Aircraft against bodily injury as a result of accident resulting into death, permanent disability, medical expenses and loss of luggage.

Occupiers Liability

Occupiers Liability Insurance is designed for individuals or corporate organizations who own or occupy a building that is for public use.

Why Do You Need Occupiers Liability?

• It is the law!
• Reimbursement of payment of third parties injuries and/or death while in the premises transacting business.

The benefits are:

• Compensation as a result of accidental bodily injury or death to any person in the building insured.
• Compensation as a result of accidental loss of or damage to property of third parties occurring in connection with the insured’s business.
• The legal costs recoverable by any claimant from the Insured.
• Costs and Expenses incurred with the written consent of insurers.

Employer's Liability

Employers of labour must pay compensation to an employee for injury or death as a result of accident sustained during usual employment.

Why do you need Employer’s Liability?

• Reimbursement payment of work-related injuries and/or death for employers of labour.
• An organization that employs at least three (3) employees is expected to take up an Employer’s Liability insurance.

Home Insurance

Home insurance is an insurance policy that protects you financially in the event that your home and property is damaged in a covered threat, or in the event of a covered lawsuit. Risks that are typically covered by a standard home insurance policy include fire, theft, storm, flood and other perils. No one plans on losing their home or possessions to any of these unforeseen dangers. Unfortunately, they happen every day.

Ask yourself this: If my home was ever destroyed in a fire, for example, how would I pay to rebuild my home? That's where Home insurance policy comes in.

We have got you covered against claims made relating to the following issues: Death, Bodily Injury, Fire, Burglary & Theft and Environmental damage (rain, lightning and wind)

Why Do You Need the Policy?

• Provides rebuilding cost in the event of damage to your building as owner or tenant.
• Provides replacement cost for loss or damage of personal belongings e.g. clothings, electronics and other contents.
• It also covers Personal Liability and Personal Accident as stated in the document.

Healthcare Professional Liability

This type of Insurance was pronounced under section 45 of the National Health Insurance Scheme Act 1999 and its basically for the Medical Institution and all the Medical Professional working therein. The policy provides compensation for the NHIS patient who suffers deaths, sickness, permanent disability, partial disability and injury by shock from the mistakes, error, negligence and acts of commission or omission of Medical Practitioners and Institutions.

Builders Liability

Builders' Liability policy provides comprehensive coverage to the insured with respect to all forms of construction work. Policy holders are fully protected against claims brought forward by other third parties, which may occur in relation to an accident or series of accidents that transpire in relation to specified building projects. Coverage includes: Death, Permanent Disability, Bodily Injury, Property Damage to Third Party, Legal Costs & Expense.