Special Risks Insurance

Marine/Cargo Insurance

This policy covers damage to goods on board a ship, as well as prior to loading and discharge as well as during inter-modal carriage of these goods. It can be sub-divided into three classes, namely: ICC "A", ICC "B" and ICC "C".

Each class with varying scope of cover.
ICC “A” is the most comprehensive cover for cargo while "B" and "C" have various degrees of restriction in their scope of cover.

Marine Hull/Vessel Insurance

This class of insurance seeks to provide indemnity for the vessel owners in the event of loss or damage to the vessel. It covers the Hull (the ship or vessel), Machinery and Equipment.

Oil and Gas Insurance

This covers the onshore risk including refineries, petrochemical plants, depots, tank farms to the offshore risk comprising multinational and independent lease operators who work along with oil service companies involved in Engineering &s Construction services, seismic operations, drilling rig activities and all manner of well delivery services.

Benefits

  • Installation against oil risks.
  • Construction risk, not renewable.
  • Operational risk covers all the activities i.e. Energy package - (Physical damages, onshore and offshore).
  • Operators Extra Expenses (OEE)(Control of wells).
  • Cost of control of well, cost of re-drilling, cost of cleaning.
  • General 3rd party liability.

Aviation Insurance

Aviation insurance is coverage specifically for the operation of aircraft and the risks involved.

a. What it covers:
b. Cover can be applied as follows:

  • Aircraft Hull All Risks Insurance.
  • Hull War Insurance.
  • Third Party Liability Insurance.
  • Passenger Liability Insurance.
  • Crew Personal Accident.
  • Spares/Equipment Insurance.
  • Hanger Keepers' Liability Insurance.
  • Aviation Fullers’ Liability Insurance.
  • Airport Owners & Operators Liability Insurance.
  • Pilots' Loss of License Insurance.

Classes of Insurance