A standard fire insurance covers the risk of loss, destruction or damage to properties as a result of fire, lightning and explosion. This scope of cover can however be extended to insure allied perils such as flood, storm, tempest, tornado, earthquake, impact, aircraft damage, bursting and overflowing of water tanks, bush fire, riot and strike as well as malicious damage.
Following an interruption of the smooth operation of your business, the insurance covers the loss of profit, wages payable and auditor's fees payable due to the occurrence of a fire incident or any of its allied perils.
The cover provided under this class of insurance is for theft of the properties insured following a forcible and violent entry into or exit out of the premises or any attempt thereat.
The insurance covers loss of money whilst in transit or in safe or whilst in the personal custody of the employees.
The insurance covers the risk of loss or damage by accident or misfortune to the insured's goods whilst in transit or whilst in course of loading onto or unloading from the conveyance or whilst temporarily housed in the ordinary course of transit within Nigeria
Cover under the insurance is in respect of loss, destruction or damage by any accident or misfortune to the properties insured whilst within and outside any particular location within the Federal Republic of Nigeria. The policy is suitable for locational items such as jewelleries, laptops, video cameras, mobile phones and other properties that are easily moved about..
Cover for legal liability to pay compensation for bodily injury resulting in death, disablement and medical expenses arising out of and in the course of employment including legal costs at common law.
Cover for legal liability to pay compensation for bodily injury resulting in death, disablement and medical expenses arising out of and in the course of employment including legal costs at common law
The insurance compensates an insured person for death, permanent disablement and temporary total disablement arising from an accidental injury sustained whilst in course of duty or out of duty i.e a 24 hours coverage.
This covers the risk of loss of money and/or goods belonging to the insured or for which the insured is legally responsible committed by reason of fraud, embezzlement, larceny or dishonesty of employees.
The insurance can be effected on all types of vehicles. Where cover is on "COMPREHENSIVE" basis, the insurance covers the risk of fire, theft, accidental collision and malicious damage. It also covers liabilities to third parties for injuries sustained or damage to third party properties as well as cost of towing the vehicle to the nearest repairer following an accidental damage. A "THIRD PARTY" insurance however provides for both the risk of liability to third parties for injury as well as damage to third party properties only.
It covers indemnity against loss arising from any claim or claims by reason of any negligence, omission or error committed in conduct of the insured’s business in the professional capacity by any person who may be in employment of the insured.
This insurance provides compensation for liabilities incurred against the members of the public whilst the insured or any one acting on her behalf is in course of duty. Hence, cover is for liabilities for injuries sustained by third parties as well as damage to third party properties.
Contractors all risk insurance is designed to protect you against such risks as fire, floods, storms, malicious damage, vandalism and theft. It is a policy that covers all risks normally associated with a construction project.
Bonds can briefly be described as guarantees by insurance companies attesting to the credibility of an individual or a company. There are basically two types of bonds commonly available in the market which are: the Performance Bond and Advance Payment Bond. Whilst the Performance Bond indemnifies any shortcoming in the execution of a contract, the Advance Payment Bond indemnifies any shortfall in the utilization of an advance payment.
As against the goods in transit insurance, the cover is provided for losses sustained in course or conveyance of goods in transit by sea or air outside the country. The insurance is deemed to be in force from the time the goods leave the warehouse for commencement of transit, continues during the ordinary course of transit and terminates at the final warehouse.
This includes insurance of both the Onshore and Offshore risks. Onshore risks include the refineries, Petrochemical Plants, Pumping & Metering Stations , Gas Plants & Compressors, Gas Turbine, Storage Depots/ Farms, Transportation / Pipelines, Business Interruption ask as well as Abandonment. Offshore risk however include Plant form, Oil Rigs, Sea based Pipelines, Mobile Drilling Barges, Vessel / Graft, Control of Wells / Work-over, Re-drilling, Seepage and Pollution, Terrorist Attacks well as Abandonment / Restoration.
The Pension Reform Act 2014 makes it compulsory that members of staff of an organization are insured against death following an accident and sickness up to “ 3x the Annual Earnings”.
Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. If the insured dies during the time period specified in the policy and the policy is active, or in force, a death benefit will be paid. It is a family protection policy which provide for one’s dependent’s in case of death and can as well be used to take care of key-man risk for organizations and partnership.
The insurance covers loss or damage caused by and solely due to explosion or collapse to any boiler or pressure vessel against: Damage (other than by fire) to any boiler or pressure vessel, damage (other than by fire) to other property of the insured; and liability of the insured at law to third parties either in respect of accidental injury or damage to their properties
A typical travel insurance policy will have coverage for a traveler's main concerns, including trip cancellations, medical emergencies, travel delays, and lost luggage. Most policies are built to be comprehensive to protect travelers from a variety of events that may cause a financial loss before or during their trip
Machinery breakdown insurance provides a security cover to the machines used by factories and industries. This insurance covers accidental breakdown and physical damage of the machinery, the cost of repairs or replacement of the damaged machine parts.
The insurance covers computers, data carrying materials or air conditioning plant against loss or damage to the property arising from accidental damage or breakdown. The breakdown cover however excludes damage caused by fire or by any cause external to the item or property as well as any damage which is recoverable under a maintenance agreement. In addition, the insurance can provide for an increase in cost of working as a result of an accident as well as the loss of revenue or loss of gross profit consequent upon a damage.
House owners/Householders Insurance policy is designed to provide protection against loss or damage to Private dwellings houses and apartment (owners or tenants) and the contents (furniture, electrical appliances, jewellery, etc) within the house.
